William Scott signed his resignation from the board of Macau casino operator MGM China Holdings Ltd and when his termination process was confirmed he later resigned from MGM Resorts International, its United States based parent.
On Friday, Hong Kong Stock Exchange was informed by MGM China that the resignation of Mr. Scott happened the same day. Persons like Mr. Scott should remain a part of the management officials. He was also an authorized representative under listing condition of stock exchange of company.
There was no reason mentioned for the resignation of Mr. Scott in the announcement. It also represented that there was no tensions and disagreement between Mr. Scott and MGM board of China.
An announcement was made by MGM Resorts last Thursday that informed about the departure of Dan D’Arrigo, their chief financial officer. The departure later became the reason of resignation of Mr D’Arrigo from MGM China’s board. Nevertheless, he will stay in contact with the MGM group for one more month to keep in view the effective replacement position being filled in. The owner and manager of two casino resorts in Macau namely MGM China informed the stock exchange of Hong Kong that the president of MGM Resorts, Bill Hornbuckle, under the rules of bourse is now an authorized person.
Since 16th March 2011, Mr. Scott had been working as the non-executive director and nominated member of the corporate governance committee of MGM China. He also worked in a joint venture of MGM Resorts International and Diaoyutai State Guesthouse as a general manager of Diaoyutai MGM Hospitality, Ltd. He was considered as the hospitality arm of the mainland Chinese government which was established in June in a 162-room non-gaming property at Bellagio Shanghai hotel. MGM Resorts aims to widen up the horizons of its locations in Asia most probably in Japan and Osaka to be its preferred location.