(Reuters) - MGM Resorts International’s (MGM.N) Chief Operating Officer and President Bill Hornbuckle has been named acting CEO and president as the U.S. casino industry confronts the coronavirus crisis.
Chief Executive and Chairman Jim Murren is stepping down prior to the expiration of his contract in light of the crisis. Paul Salem, who currently is a board member, will be made its chair, the company said on Sunday.
Murren vacated the position as of Sunday, the statement added.
The company said last month he would step down when the casino operator withdrew its financial forecast for 2020 while assessing how the coronavirus would impact operations.
The outbreak, which originated in mainland China and has spread across the world, has taken a toll on casino operators as travel restrictions designed to contain the pandemic have devastated tourism.
Reporting by Kanishka Singh in Bengaluru; Editing by Lisa Shumaker and Stephen Coates