Thomas Roberts and Michael Rietbrock to serve as independent Directors of MGP.
LAS VEGAS – MGM Resorts International announced the inaugural Board of Directors of MGM Growth Properties LLC. The MGP Board will feature two independent directors, Thomas Roberts and Michael Rietbrock. Roberts is a strategic advisor and corporate governance consultant to public and private companies and was previously a partner at Weil, Gotshal & Manges for more than two decades, where he served as Chairman of the Corporate Department. Rietbrock has a highly distinguished career analyzing and investing in Real Estate, Gaming, and Lodging securities and was most recently the Head of Global Equity Research and Co-Head of U.S. Equities at Nomura Securities, where he played a key leadership role in the development of the firm’s U.S. operations.
Jim Murren, Chairman and CEO of MGM Resorts International, said, “We welcome Tom and Mike to the MGP Board of Directors. Tom’s experience advising companies on complex, high-profile situations coupled with his deep knowledge of corporate governance matters and best practices will support the establishment of guidelines and procedures for the MGP Board, while Mike’s background in finance and global equity markets, particularly in Real Estate, Gaming, and Lodging, will provide a solid foundation to help oversee MGP’s execution of its financial strategy and industry positioning. They will bring significant relevant experience to the MGP Board that we believe will drive an expertly managed board that will be aligned with shareholder interests and entirely focused on the success of this newly formed company.”
Murren continued, “We are also pleased to announce that Elisa Gois will join the MGP Board. Elisa joined MGM Resorts from Host Hotels & Resorts, where she created and led the Corporate Strategy Analytics, Feasibility and Business Intelligence & Portfolio Analysis departments. As Chief Analytics Officer and Senior Vice President of Enterprise Analytics at MGM Resorts, she brings important analytical perspectives and a track record of driving growth and results. In addition to Elisa, Tom and Mike, we will fill the remaining seats on the MGP Board with MGM leaders who will provide invaluable strategic oversight across a range of key areas at MGM Resorts and also bring critical knowledge of the assets that will initially comprise the REIT. We look forward to growing MGP’s Board as the company expands in the coming years.”
The full MGP Board will be composed of the following individuals:
- Elisa Gois, Chief Analytics Officer and Senior Vice President of Enterprise Analytics at MGM Resorts.
- Bill Hornbuckle, President of MGM Resorts.
- John McManus, Executive Vice President, General Counsel and Secretary of MGM Resorts.
- Jim Murren, Chairman and Chief Executive Officer of MGM Resorts.
- Michael Rietbrock (Independent Director), former Head of Global Equity Research and Co-Head of US Equities at Nomura Securities.
- Thomas Roberts (Independent Director), former Senior Partner at Weil, Gotshal & Manges.
- Dan Taylor, Executive at Tracinda Corporation and Independent Director of MGM Resorts.
Murren concluded, “Today’s announcement, combined with the appointments of James Stewart and Andy Chien, as MGP’s CEO and CFO respectively, underscores the deliberate steps we are taking to create a premier company in this space. MGP’s independent directors and executive team will provide extensive and applicable experience and complement our Board members from MGM Resorts.”
As previously announced, MGM Resorts will create a controlled Real Estate Investment Trust (“REIT”) to which MGM Resorts will contribute ten premier real estate properties, with more than 24,000 hotel rooms and more than 2.3 million square feet of convention and meeting space, including:
- Seven large-scale Las Vegas resorts and entertainment properties: Mandalay Bay, The Mirage, Monte Carlo, New York-New York, Luxor, Excalibur, and The Park.
- Three regional casino resort properties: MGM Grand Detroit in Michigan and Beau Rivage and Gold Strike Tunica, both of which are located in Mississippi.
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