Former MGM Boss Takes Over at Resorts World, Plans North Strip Growth
Resorts World Las Vegas is looking to transform as industry veteran Jim Murren takes the helm as chairman. Murren brings decades of experience and a vision to revitalize the struggling…
LAS VEGAS, NEVADA – JUNE 20: An LED screen displays an advertisement for Luke Bryan’s upcoming residency as construction continues at Resorts World Las Vegas north of a sign directing pedestrians to the Las Vegas Strip on June 20, 2021 in Las Vegas, Nevada. Genting Group’s property is scheduled to open on June 24, 2021, on the former site of the Stardust Resort & Casino. The USD 4.3 billion resort is the first new resort to be built on the Las Vegas Strip since The Cosmopolitan of Las Vegas opened in 2010 and will be the most expensive property ever developed in Las Vegas. It will feature three towers with 3,500 guest rooms and suites, a 117,000-square-foot casino and a 5,000-seat theater on its nearly 88-acre site.
(Photo by Ethan Miller/Getty Images)Resorts World Las Vegas is looking to transform as industry veteran Jim Murren takes the helm as chairman. Murren brings decades of experience and a vision to revitalize the struggling north Strip. That vision includes 40 acres of undeveloped land surrounding the $4.3 billion resort and opportunities for expansion. A proposed 20,000-seat sports arena, additional hotels, and retail spaces are possible expansion projects. Murren's leadership comes at a crucial time as Resorts World seeks to overcome financial setbacks, regulatory hurdles, and management challenges since its June 2021 opening.
Murren is the former CEO of MGM Resorts and is no stranger to large-scale development and economic recovery. At MGM he steered the company through the 2008 financial crisis. He also oversaw projects such as the $8.5 billion CityCenter and T-Mobile Arena. He aims to bring the same innovation and strategic planning to Resorts World. "Resorts World Las Vegas has transformed the Vegas Strip with its unceasing focus on providing the ultimate guest experience, which is why I'm thrilled to join the team and help continue setting the standard for premier hospitality," Murren told KSNV.
The north Strip, stretching from Desert Inn Road to Sahara Avenue, has long been plagued by stalled projects and vacant land. Murren's strategy focuses on collaboration rather than competition, emphasizing that a thriving north Strip benefits all Las Vegas properties. Notable board members, including former Nevada Governor Brian Sandoval, support Murren's vision. He looks to have the connections and expertise to turn his vision into reality.
However, the road ahead is not without challenges. Resorts World recently posted its worst financial quarter by the end of September 2024 and remains under scrutiny for potential violations of anti-money laundering laws. Yet, with Murren at the helm, there is optimism that his leadership will stabilize operations and drive long-term success. His ability to navigate economic downturns and spearhead major developments makes him pivotal in reshaping Resorts World and the North Strip into a thriving entertainment and hospitality hub.
