Published on: December 5, 2024, 06:29h.
Last updated on: December 5, 2024, 06:29h.
Resorts World Las Vegas has announced the establishment of its inaugural board of directors, led by former MGM Resorts International CEO Jim Murren.
Genting Berhad, the parent company of the Las Vegas Strip casino hotel, has also added 20-year gaming industry veteran Alex Dixon as the chief executive of Resorts World Las Vegas. The board members assumed their positions yesterday, while Dixon will begin his role on Jan. 16.
The announcement of these appointments comes following Genting’s disclosure to investors that Resorts World Las Vegas faced difficulties in the third quarter due to adverse weather conditions and economic uncertainty. The period between July and September marked a two-year low for the venue in terms of earnings before interest, taxes, depreciation, and amortization (EBITDA) and revenue.
These recent developments also coincide with Resorts World Las Vegas’ efforts to address a money laundering scandal, where a former executive was accused of permitting illegal betting activities without proper scrutiny of the funds’ sources. The Nevada Gaming Control Board (NGCB) is seeking financial penalties from the property due to this incident.
Murren’s Reunion with Las Vegas
Murren’s appointment to the Resorts World Las Vegas board signals a return to Las Vegas for him. Following his departure from MGM, he oversaw Nevada’s COVID-19 response task force before getting involved with special purpose acquisition companies (SPACs) and other gaming entities. Murren is optimistic about the future of Resorts World Las Vegas.
Resorts World Las Vegas has set new standards for guest experience on the Vegas Strip. I am excited to be part of the team and contribute to the continued success of the property,” he stated. “Together with the Board, I look forward to driving growth and innovation to benefit all stakeholders of RWLV.”
With the substantial backing of parent company Genting and the experience of Dixon and Murren, Resorts World Las Vegas aims to enhance profitability and revenue in 2025.
Dixon’s Impressive Background
Las Vegas native Dixon joins Resorts World from Q Casino & Resort and Dubuque Racing Association as the CEO. His prior experience at Goldman Sachs, Caesars Entertainment, and MGM positions him well to guide Resorts World towards success.
“We have a dedicated team of employees and are confident in achieving great things together,” Dixon expressed in a press release.