MGM Resorts has appointed Jonathan Halkyard to the position of Chief Financial Officer at a crucial time for the recovery of the company.
New CFO Named at Crucial Time
US leading gaming operator MGM Resorts International announced on January 6 the appointment of former Caesars Entertainment executive Jonathan Halkyard as its new Chief Financial Officer. He replaces Corey Sanders, named Chief Operating Officer of the company in early December 2020.
As a member of the leadership team, Mr. Halkyard will be responsible for MGM Resorts’ financial activities across its international and US operations, in addition to investor relations, accounting, treasury, procurement, and tax.
According to the operator’s CEO, Bill Hornbuckle, Mr. Halkyard brings ” financial discipline, investor acumen, operating experience, and seasoned corporate leadership to MGM Resorts at a vital time in [its] evolution,” as the company focuses on recovering from the coronavirus pandemic.
“His passion for hospitality, considerable experience in gaming, previous stewardship of strong balance sheets and investor credibility make him an excellent choice to complement our strong and committed leadership team.”Bill Hornbuckle, MGM Resorts CEO
Chairman Paul Salem declared that MGM Resorts and its new CFO will focus on the “disciplined execution” of its business plan, its “long-term recovery from the Covid-19 pandemic” as well as future development and expansion.
Senior Gaming and Hospitality Executive
Mr. Halkyard has significant experience in the gaming, hospitality, and energy industries. The new CFO of MGM Resorts held various management and operating positions at Caesars, former Harrah’s Entertainment, between 1999 and 2012, including Vice President, Senior Vice President, Executive Vice President, and Treasurer. Mr. Halkyard became CFO of the company in 2006 and oversaw the $30 billion sale of Harrah’s to private equity pioneers TPG and Apollo in 2008, which brought over $200 million in savings after the closure of the deal.
In 2012 and 2013, Mr. Halkyard served as Executive Vice President and CFO of NV Energy, which provides energy services and products in Nevada, and its wholly-owned subsidiaries, Nevada Power Company and Sierra Pacific Power Company.
He was most recently President and CEO of hotel operator Extended Stay America and its paired-share real estate investment trust ESH Hospitality. Mr. Halkyard joined the company in 2013 as COO and ran operations across 680 locations, before his appointment as interim CFO in 2014 and as CFO in 2015.
About his recent appointment as CFO of MGM Resorts, Mr. Halkyard declared that he is “excited and proud” to join the leadership of “one of the world’s most iconic gaming, hospitality, and entertainment destination brands.”
“We face the greatest challenges to corporate management in recent history and I am eager to get to work and continue the fine legacy of executive management at MGM Resorts,” he added.