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MGM Resorts reaffirmed its previously announced 2020 free cash flow targets. The company added, "The recently announced MGM 2020 program is a company-wide, business-transformation initiative aimed to leverage a more centralized organization to maximize profitability and, through key investments in technology, lay the foundation for the Company's digital transformation to drive long-term revenue growth. The program was first announced in May 2018. MGM 2020 is expected to deliver annualized Adjusted EBITDA uplift of $300 million in aggregate, consisting of $200 million by the end of 2020 and an additional $100 million by the end of 2021. MGM 2020 builds on the work accomplished as part of the Profit Growth Plan (PGP) (2015-2017) which realized over $500 million in incremental EBITDA. The highly successful program was designed and led by Mr. Sanders, making him uniquely qualified to step into this new role as MGM 2020 continues."

MGM Resorts announced changes to its leadership team and a streamlining of responsibilities. Current Chief Operating Officer Corey Sanders will be appointed Chief Financial Officer and will "lead the strategic financial transformation that is part of MGM 2020 and will integrate that work with the departments he currently leads including information technology, enterprise analytics, sales and consumer marketing," MGM said. Current Chief Financial Officer Dan D'Arrigo has chosen to take advantage of the voluntary resignation program offered as part of MGM 2020 and will be resigning from the company and the board of MGM China, MGM added. D'Arrigo will remain with the company over the next month in an advisory role. Bill Hornbuckle will expand his role and be appointed Chief Operating Officer of MGM Resorts, in addition to his current role as President. Hornbuckle will oversee operations at all enterprise properties and will lead casino marketing, design and development, human resources and entertainment. All changes will take effect March 1.