MGM Resorts International has expanded the terms of employment for two important managers, movements that can be designed to ensure continuity at the top of the company when its highest -ranked executive resigns at the end of 2028.
The Las Vegas-based game giant submitted new employment contracts with CFO Jonathan Halkyard and head of commercial manager Gary Fritz, both effective October 1.
During his new business, Halkyard will remain at MGM until September 2029 and earn a base salary of $ 1.25 million and an annual target bonus equivalent to 150 percent of that amount. The agreement also provides annual dividends valued at $ 3.1 million, divided evenly between performance share units and limited share units.
A separate form 4 submitted to the US Securities and Exchange Commission shows that Halkyard recently received 46,065 limited share units, worth approximately $ 1.5 million at current market prices, marking the first part of his new incentive plan. He now owns approximately 114,000 shares of the MGM share, valued at approximately $ 3.6 million based on Monday’s final price of $ 31.57.
Fritz, who monitors MGM’s digital operations, agreed to a three -year contract by 2028, which includes a base salary of $ 1.5 million, a target bonus of 175 percent and annual share grants valued at $ 4.5 million. His business also includes specific results incentives, which are bound to BETMGM’s profitability and the launch of new digital offers.
MGM Resorts President and CEO Bill Hornbuckle is under contract until 2028. Hornbuckle, 67, was offered an advisory role at the end of its current term to help open the company’s not yet completed casino in Osaka, Japan.
Halkyard is available on a short list of internal candidates who can succeed Hornbuckle, according to the company’s insiders.
New GMS named at MGM Resorts Casinos
MGM Resorts International has appointed four new managers to lead five of its Las Vegas resorts, all promoted from the company, according to an internal company memo.
Mark Czerniak will serve as head of Bellagio. He previously worked as CFO for Bellagio and Park MGM and has held financial leadership roles at MGM Grand, The Signature and New York-New York since joining MGM Resorts 2016.
Doug Sandoval will monitor Aria and VDara, which gives more than two decades of financial experience at Premier Las Vegas Resorts.
Mark Lefever has been appointed head of Cosmopolitan. Lefever joined MGM Resorts 2015 and has had CFO roles on Luxor, Aria/Vdara, MGM Grand/Signature and New York-New York.
Andy Meese will lead Park MGM after more than 25 years in hospitality strategy and operational roles over Mandalay Bay, Delano (now W Las Vegas), Luxor, City Center and Bellagio.
Czerniak will report to Ayesha Molino, who will be MGM Resorts Chief Operating Officer on January 1 and follows the outgoing Corey Sanders. Sandoval, LeFever and Meese report to Sean Lanni, President and COO for Cosmopolitan, who recently expanded their surveillance to Aria, VDara and Park MGM.
Players refuse to admit legal struggle with Strip Megaresport
A lawyer for Gambler Robert “RJ” Cipriani called on a ninth circuit panel on October 6 in Las Vegas to revive its trial against the resort world Las Vegas and former President Scott Sibella. Cipriani, who goes under the X -handle “Robinhood 702”, has been pushing his fall for several years, claiming that the casino allowed another player to harass him for weeks.
Attorney Mitchell Keiter said that the court erroneously dismissed Cipriani’s case by relying on Judicial Estoppel, a legal principle intended to prevent people from taking inconsistent positions in court. He claimed that Cipriani’s claims have never changed in substance and that the resort the world failed to intervene until the situation “went out of hand.”
Resort’s world adversary Tamara Beatty Peterson said that Cipriani’s story switched between applications, while the defense of Sibella claimed that he could not be personally responsible according to neglect or “guest” responsibility.
US circuit judge Gabriel Sanchez questioned whether Cipriani actually gained any unfair advantage by changing his submissions and saying that he “still struggled to find out what that advantage is.”
Keiter told Review-Journal that he was “very satisfied” with how the procedure went.
The three-judge panel heard arguments but did not issue a decision and made the matter under submission.
Golden State prohibits Sweepstakes Casinos
California will make Sweepstakes Casino’s illegal as of January 1 after Gov. Gavin Newsom signed AB 831 to team Saturday. The bill was unanimously adopted by the state legislature.
The action, supported by the California Nations Indian Gaming Association, is intended to protect the exclusive rights of the trunks to run games in the state. Cniga claimed that Sweepstakes casinos, online platforms that allow users to play casino games, violated these rights.
The move represents a major blow for the Sweepstakes industry. California, the country’s most populous state with more than 39 million inhabitants, dwarves other states that are considering similar legislation, including New York, where a bill is still waiting for the Kathy Hochul government. Florida, the third largest state, recently failed to pass a competition ban.
Industry groups had urged News that veto the bill. Social Gaming Leadership Alliance quoted a study showing 85 percent of Californians favors regulating and taxing sweep stake operators. CEO Jeff Duncan warned that AB 831 could remove $ 1 billion from the state economy and prevent digital game innovation.
Contact David Danzis at ddanzis@ theplayerlounge.com or 702-383-0378. Follow @AC2vegas_danzis at X.
