MGM Resorts CEO Jim Murren, Driving Force Behind WNBA Team Acquisition, T-Mobile Arena Construction, Betting Partnerships With Sports Leagues, Will Step Down
By Alan Snel of LVSportsBiz.com
MGM Resorts International Chief Executive Jim Murren, the driving force behind MGM Resorts acquiring the WNBA Las Vegas Aces team from San Antonio in 2017 and a big advocate of MGM Resorts spawning sports betting partnerships with the NBA, NHL, MLB, MLS and Raiders, is stepping down from his CEO post.
It’s major business news in Las Vegas, where Murren, 58, has served as MGM Resorts International chairman and CEO since 2008 and has been with MGM Resorts since 1998.
Murren was a major player in MGM Resorts’ partnership with Los Angeles-based Anschutz Entertainment Group (AEG) in building the $375 million T-Mobile Arena, which opened in 2016 and is one of the top grossing arenas for its venue size category in the world.
Murren also backed the creation of the NHL Vegas Golden Knights, which is a tenant in T-Mobile Arena along with Las Vegas-based UFC, and supported the move of the NFL Raiders to Las Vegas from Oakland.
But it was the WNBA franchise that he helped acquire that had a special place in Murren’s heart. Murren often sat courtside at Mandalay Bay Events Center with other MGM Resorts execs, dressed in jeans and an Aces shirt while watching the game and drinking a beer.
LVSportsBiz.com had an exclusive with Murren after an Aces win at Mandalay Bay Events Center last season.
“He was instrumental in the establishment of professional sports in Las Vegas, and he was deeply involved in the building of T-Mobile Arena and bringing the Vegas Golden Knights, the Las Vegas Aces and the Las Vegas Raiders to the city. Mr. Murren was an early and strong supporter of diversity, inclusion, and sustainability in Las Vegas,” an MGM Resorts news release said Wednesday.
Murren informed MGM Resorts’ board of director that he will step down before his contract expires. The company release said, “Mr. Murren will continue to serve in his current leadership roles until a successor is appointed. The Board has formed a committee of independent directors to conduct the search process. The committee is working with a nationally recognized executive search firm to promptly identify and evaluate candidates to assume the role of Chief Executive Officer.”
Murren told the company about his plan to step down before discussing 4Q earnings on a conference call Wednesday. It was a solid fourth quarter, Murren said, but below expectations.
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