The man has one heck of a guardian angel, that’s all I can say. Jim Murren, the former CEO of MGM Resorts, the man who brought us resort fees is at it again. Seriously wonder about this. The man who has made his career out of nearly bankrupting people, companies, and economies, has a way of always coming out of it all wearing a smile and sporting a much fatter bank account, instead of the usual orange jumpsuit.
Currently, while continuing to hold the Nevada economy hostage, Murren is about to score big in the stock market as his “Blank Check” company Acies Acquisition Corp. merges with Las Vegas-based mobile gaming company PlayStudios. The merger will take a small, roughly $200 million company to a $1billion player in the gaming and hospitality app market once the merger is completed. The combined company is set to be listed on the Nasdaq market under PlayStudio’s name and the ticker symbol MYPS.
Past Rewards for Losses
Jim Murren was originally Chief Financial Officer at MGM. In 2007/2008, He was in charge of the City Center project that almost bankrupted MGM as the project kept going over the $4 billion budget (final cost over $9 Billion) as the national and world economies failed. Then in 2008, Jim Murren was made Chairman and CEO of MGM where he divided the company into two parts. One the real estate trust and the other the hospitality brand. He created the now dreaded resort fees and tried everything in his power to eliminate as many jobs as he could. At one point trying to blame the October One massacre for his reason to lay off employees at Mandalay Bay and other MGM properties.
In 2020, after being paid $32 million for instituting a major purge of MGM staff members, Murren retired from MGM to accept Nevada Governor Sisolack’s invitation for him to do what he did at MGM and do it to the Nevada workforce and economy, under the guise of the Covid Pandemic.
So while Jim Murren is in the position of power to tell the good people of Nevada to stay home; while he makes entrepreneurs lose their life savings in businesses that are forced to close on his orders… (and forget about being paid unemployment) he makes another killing in the stock market. And smiles to the cameras…
Wonders never cease to amaze me in this town!!