Several casino operators have watched as their heads of operations departed recently, right in the middle of a global pandemic that has hit the gaming sector especially hard. One in particular, MGM International Resorts, already lost its former CEO and chairman, Jim Murren, who wasn’t able to stay around to see his “MGM 2020” plan fulfilled, and the company’s former president of global gaming, Brian Sandoval, left only a few days later as he sought a bid to become the president of a university. The latest departure comes from the company’s operations in Asia, where MGM China CEO Grant Bowie has confirmed his departure, effective at the end of the month.
In a filing (in pdf) with the Hong Kong Stock Exchange, MGM China announced the pending resignation of Bowie, who has been with the company since 2008. He has apparently decided not to extend his contract and the sexagenarian just wants to move on in order to “match his personal retirement plans.” His last official day will be May 31.
Even though he’s ready to move on, Bowie won’t simply walk away after his final day on the job. He will continue as an executive director while a new CEO is brought in, providing guidance to the new arrival so he can get his feet wet. Bowie will also stick around until the end of 2022 to act as an advisor to the company. Murren had made similar promises when he announced his departure, but ultimately was forced to cut ties sooner than expected in order to help Nevada rebound from the coronavirus.
MGM China adds in its announcement, “Mr. Bowie expressed his gratitude to the Board, particularly Mr. Bill Hornbuckle and Ms. Pansy Ho, the Company and MGM Resorts for this opportunity and their support over the years. He also expressed his appreciation of the entire MGM China team and has much confidence that it will continue to take the Company to great heights. The Board would like to express its sincere gratitude to Mr. Bowie for his valuable contributions to the Company during his tenure of service.”
Bowie has been in the gaming industry for a long time and was responsible for, among others, launching Wynn Macau in Macau in 2006. He then moved to MGM in 2008 and oversaw the creation of the MGM Cotai, a $3.4-billion casino resort that opened two years ago. His departure from MGM China is reportedly not due to any dispute or disagreement with anyone at the company, but it isn’t a secret that MGM China needs a new set of eyes to help it grow as Macau’s local economy changes. Whether or not this was a factor in the decision, or if Bowie’s resignation really only stems from his desire to have more free time, we’ll probably never know.
