X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LAS VEGAS—MGM Resorts International has selected James Stewart, previously a managing director at Greenhill & Co., as chief executive officer of MGM Growth Properties LLC (MGP). The company also announced today that Andy Chien, also previously a managing director at Greenhill & Co., has been selected as chief financial officer of MGP.Stewart and Chien will be responsible for leading the formation of MGP and its initial public offering, and they will be instrumental in building a bench of leadership that positions MGP for success. Both executives will be located in Las Vegas.“James and Andy are well known and highly regarded investment banking leaders, and they bring to MGP more than 40 years of collective advisory and financial experience that we believe is critical to establishing a solid foundation for MGP,” said Jim Murren, chairman & CEO of MGM Resorts International. “In addition to his transaction experience, James has a deep background in corporate strategy and institutional leadership, both as a founder of Greenhill’s Los Angeles office and previously as co-head of UBS Investment Bank’s Los Angeles office. Andy also has a proven record of identifying and executing on complex financial strategies with regard to mergers and acquisitions, capital planning and financing, and other corporate finance activities. As we continue our path toward the creation of MGP, the knowledge and expertise that James and Andy bring will be invaluable in positioning MGP as a leading real estate investment trust.”“MGM Resorts is one of the world’s most recognizable names and I am excited for the opportunity to become a part of this iconic brand as CEO of MGP,” said Stewart. “This is an important time in the real estate industry, especially in gaming and leisure, where there is significant potential for growth and value creation. I look forward to harnessing all of the industry knowledge and financial expertise I have gained over my career to build and lead MGP forward as a premier REIT, with a strong operating partner in MGM Resorts.”“I am pleased to join MGP to help establish and support the REIT’s business and financial foundation,” said Chien. “REIT strategies are deeply based in financial analysis and focused on driving growth through prudent transactions, balance sheet management and portfolio optimization. I look forward to partnering with James and MGM Resorts in working toward a successful launch of MGP.”In October, MGM Resorts announced that it would create a controlled real estate investment trust to which MGM Resorts will contribute ten premier real estate properties, including more than 24,000 hotel rooms and more than 2.3 million square feet of convention and meeting space. The Properties will include:

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.