MGM Mirage CEO to Retire

One of the biggest supporters of gambling in the United States and owner of the land based gambling group, MGM Mirage, J. Terrence Lanni announced his retirement plans as he just celebrated his 65th birthday. The spokesman for the company that announced the retirement of their long time chairman stressed that his retirement has nothing to do with the recent allegations that have been circling the rumor mill. The recent rumors were saying that there were some false educational claims that were regarding the 65 year old executive of the MGM Mirage. He has been a strong supporter of the US online casino industry. Support from powerful people such as Lanni is definitely something that the US online casinos have been trying to get in order to overturn the ban on internet gambling in the United States.
Lanni has already suggested who should be his successor, Operating Officer Jim Murren. The MGM Mirage is a corporation that is majority owned by Kirk Kerkorian a billionaire. They are both on the same page in regards to the future of their company. The 47 year old, Jim Murren, will be a younger voice and pint of view for the company and hopefully will bring fresh new ideas. Their company has performed strongly over the past years, even with the online casino industry as a fierce competitor. Lanni served as the company’s chairman for over thirteen years and took the company’s resorts from just one in Las Vegas to 17 resorts all over the world.
The online casino supporter will step down from his executive position, but will still remain as a member of the board. Lanni said, "It's time for a younger generation to take over. I believe it is now time to step aside from full-time engagement and turn over the reins to the new generation. Jim [Murren] is fully equipped to lead the company through these turbulent times in the global economy and take it to new levels of growth and success.” He will still remain as a voice for online casinos in the US. He is confident that his choice in successor is a good one, he adds, "Further, the company has been actively implementing a succession plan for almost 2 years including the appointment of Jim Murren as COO more than a year ago."