Jim Murren is one of the leaders in entertainment in the USA and the world. As we will see, Jim Murren leaves his post at the head of the MGM to join the government of Nevada. It is a thunderclap in the world of gambling and in particular igaming. But is the drama of the COVID-19 really at the origin of this departure as we claim?
La MGM Resort
The MGM Resorts International (formerly a division of Metro-Goldwyn-Mayer, hence the initials MGM) Has prestigious hotels and casinos around the world. It is in Lasvegas that the American giant has its most beautiful assets with the Mandalay Bay and the Bellagio. We find him in Reno, but also in Macao. He also has Online casinos and poker room. Its activity is also entertainment with concert halls and stadiums. We are talking about a group that revolves around the seven billion turnover per year - a pillar of the sector. So when the Big Boss resigns, it makes noise especially when the COVVI-19 paralyzes totally Las Vegas and the whole sector of casinos and hotels in the world.
Why did Jim Murren resigned?
With a salary of 10 million annuals without the premiums, one wonders what is happening in the head of a man when he writes his letter of resignation. On the one hand, there is the beautiful story which will undoubtedly be the one preferred by the Americans. Nevada, like the rest of the world, undergoes the COVVI-19, but if the cases are less numerous than in New York, its main economic source being tourism, the economic crisis is raging. The Government of Nevada has decided to create a kind of crisis cell where the public and the private sector would share their experiences and their ideas to try to save the ship that tanns dangerously. Again, we will find the Trumpists who want to continue - after all, the main victims are the poor, the old and the African -Americans - and the Democrats who want to prevent the pandemic from settled and invades all US . We of course caricature, but not that much when we listen to both camps.
When Nevada creates this public and private unit, a multi-millionaire is invited and not the president of an association that fights every day to feed the inhabitants of Vegas who have lost work and health insurance. We are in the US and we will therefore praise the magnanimous gesture of Jim Murren who resigned to go and save Nevada ...
From a more American point of view, it will be noted that he left with a check for $ 32 million that could be described as a golden parachute or a Mega Jackpot on an online slot.. In addition, he had nose, since he sold his MGM shares before the crisis and thus obtained an additional $ 22 million. With the crisis, the action lost 76% and it would have touched "only" $ 6 million.
MGM tries to catch up
Obviously, in the US, everyone is not a Trumpist and the carrot is large enough to scandalize part of the population in the midst of a crisis and in particular, the employees of the MGM who have not yet been dismissed. The new boss has been elected and it will be Bill Hornbuckl. Barely elected, he shows white leg by granting a full salary over 15 days to all his employees and in addition a bonus of $ 1 million. With more than 75. 000 employees, we barely come close to $ 14 per head ... You talk about a bonus!
And in the meantime, will Jim Murren are going to save Nevada? A story to follow ..
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