{"id":156642,"date":"2020-11-25T13:55:01","date_gmt":"2020-11-25T21:55:01","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=156642"},"modified":"2020-11-25T14:13:52","modified_gmt":"2020-11-25T22:13:52","slug":"former-mgm-resorts-ceo-jim-murren-named-cirque-du-soleil-board","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/former-mgm-resorts-ceo-jim-murren-named-cirque-du-soleil-board\/","title":{"rendered":"Former MGM Resorts CEO Jim Murren Named to Cirque du Soleil Board After Company Sold"},"content":{"rendered":"<p class=\"p1\">Cirque du Soleil is no longer in bankruptcy after creditors moved to take ownership of the Canada-headquartered circus operator. And with the takeover comes two new board members, one being former MGM Resorts CEO Jim Murren.<\/p>\n<figure id=\"attachment_156646\" aria-describedby=\"caption-attachment-156646\" data-style=\"width: 1200px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-156646\" src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/11\/Cirque-Du-Soleil-AP.jpg\" alt=\"Cirque du Soleil Las Vegas show\" width=\"1200\" height=\"800\" srcset=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/11\/Cirque-Du-Soleil-AP.jpg 1200w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/11\/Cirque-Du-Soleil-AP-142x95.jpg 142w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/11\/Cirque-Du-Soleil-AP-1024x683.jpg 1024w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/11\/Cirque-Du-Soleil-AP-768x512.jpg 768w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/11\/Cirque-Du-Soleil-AP-600x400.jpg 600w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><figcaption  id=\"caption-attachment-156646\"class=\"text-description\">Cirque du Soleil has new owners and board members, as the circus revamps for its post-COVID-19 return. (Image: Fox Business)<\/figcaption><\/figure>\n<p class=\"p1\">A group of lenders, led by Catalyst Capital Group, a private investment firm based in Toronto, has assumed control of the company. The lenders exited Cirque from bankruptcy through Canada&#8217;s Companies&#8217; Creditors Arrangement Act (CCAA) and Chapter 15 in the United States.<\/p>\n<blockquote class=\"main-blockquote\">\n<p class=\"p1\">The closing of this recapitalization marks a significant milestone for Cirque du Soleil, as it provides the Company with a solid foundation for a successful relaunch,&#8221; a release on the ownership reorganization explains.<\/p>\n<\/blockquote>\n<p class=\"p1\">Cirque du Soleil&#8217;s high-wire spectacles dove into debt as a result of COVID-19 shutting down entertainment around the world. Cirque suspended each of its 44 shows worldwide this year, and furloughed 95 percent of its 4,679 employees. In June, the show operator <a href=\"https:\/\/www.casino.org\/news\/cirque-du-soleil-files-for-bankruptcy-as-las-vegas-shows-remain-shuttered\/\">filed for bankruptcy<\/a> protection.<\/p>\n<p class=\"p1\">Cirque&#8217;s shows in Las Vegas at the time of the shutdown:<\/p>\n<ul>\n<li class=\"p1\">Michael Jackson: One &#8212; Mandalay Bay<\/li>\n<li class=\"p1\">The Beatles Love &#8212; The Mirage<\/li>\n<li class=\"p1\">Ka &#8212; MGM Grand<\/li>\n<li class=\"p1\">Zumanity &#8212; New York-New York<\/li>\n<li class=\"p1\">O &#8212; Bellagio<\/li>\n<li class=\"p1\">Mystere &#8212; TI<\/li>\n<\/ul>\n<h2 class=\"p1\"><b>Las Vegas Mainstay<\/b><\/h2>\n<p class=\"p1\">For many travelers to Las Vegas, a trip wouldn&#8217;t be complete without taking in a Cirque du Soleil show. MGM Resorts, the largest operator of Strip casinos, has long been an official partner of the circus production firm.<\/p>\n<p class=\"p1\">The new Cirque leadership will have plenty of Las Vegas knowledge by way of its new co-chairman of the board. Murren enters the Cirque boardroom with more than three decades of executive leadership in the Nevada gaming industry.<\/p>\n<p class=\"p1\">Murren was CEO of MGM from 2008 through March of 2020. He resigned from the casino giant to head Nevada Gov. Steve Sisolak&#8217;s (D) COVID-19 Response, Relief and Recovery Task Force. He remains chairman of that body.<\/p>\n<blockquote class=\"main-blockquote\">\n<p class=\"p1\">As a company with global opportunities and the ability to grow quickly, it is critical to Cirque&#8217;s successful expansion &#8212; and to its customers and partners &#8212; that we continuously execute on the right strategies,&#8221; Murren declared.<\/p>\n<\/blockquote>\n<p class=\"p1\">Murren says he&#8217;s known Cirque President and CEO Daniel Lamarre &#8212; who will remain in that role under the new ownership &#8212; for many years.<\/p>\n<p class=\"p1\">Gabriel de Alba will co-chair the board with Murren. De Alba is the managing director and partner at Catalyst. &#8220;I am very pleased to co-chair the Board with Jim Murren, whose leadership and knowledge of the industry is unparalleled.&#8221;<\/p>\n<p class=\"p1\">Catalyst&#8217;s investment portfolio includes Gateway Casinos &amp; Entertainment, which owns and operates 18 casinos in British Columbia and Alberta.<\/p>\n<h2 class=\"p1\"><b>Circus Shakeup<\/b><\/h2>\n<p class=\"p1\">New York-New York announced last week that &#8220;Zumanity&#8221; <a href=\"https:\/\/www.casino.org\/news\/new-york-new-yorks-zumanity-closes-after-over-7700-las-vegas-performances\/\">will not return<\/a>. The adult-themed show has been in residence at the Strip casino resort since 2003.<\/p>\n<p class=\"p1\"><strong>MGM says its partnership remains strong with Cirque du Soleil, and that its other four shows will return once possible and permitted by the state.<\/strong><\/p>\n<p class=\"p1\">A <i>Reuters\/Ipsos <\/i>poll conducted earlier this year found that only four in 10 people will attend a concert event before a COVID-19 vaccine is widely available.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cirque du Soleil is no longer in bankruptcy after creditors moved to take ownership of the Canada-headquartered circus operator. And with the takeover comes two new board members, one being former MGM Resorts CEO Jim Murren. A group of lenders, led by Catalyst Capital Group, a private investment firm based in Toronto, has assumed control [&hellip;]<\/p>\n","protected":false},"author":25,"featured_media":156646,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,3313],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Former MGM Resorts CEO Jim Murren Named to Cirque du Soleil Board<\/title>\n<meta name=\"description\" content=\"Cirque du Soleil has new owners, and with the acquisition, two new board members, one being former MGM Resorts CEO Jim Murren.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/former-mgm-resorts-ceo-jim-murren-named-cirque-du-soleil-board\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Former MGM Resorts CEO Jim Murren Named to Cirque du Soleil Board\" \/>\n<meta property=\"og:description\" content=\"Cirque du Soleil has new owners, and with the acquisition, two new board members, one being former MGM Resorts CEO Jim Murren.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/former-mgm-resorts-ceo-jim-murren-named-cirque-du-soleil-board\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-25T21:55:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-11-25T22:13:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/11\/Cirque-Du-Soleil-AP.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Devin O&#039;Connor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@CasinoorgDevinO\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Devin O&#039;Connor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/former-mgm-resorts-ceo-jim-murren-named-cirque-du-soleil-board\/\",\"url\":\"https:\/\/www.casino.org\/news\/former-mgm-resorts-ceo-jim-murren-named-cirque-du-soleil-board\/\",\"name\":\"Former MGM Resorts CEO Jim Murren Named to Cirque du Soleil Board\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/former-mgm-resorts-ceo-jim-murren-named-cirque-du-soleil-board\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/former-mgm-resorts-ceo-jim-murren-named-cirque-du-soleil-board\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/11\/Cirque-Du-Soleil-AP.jpg\",\"datePublished\":\"2020-11-25T21:55:01+00:00\",\"dateModified\":\"2020-11-25T22:13:52+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/02b4fee8814a4003903b0021bffb4ebf\"},\"description\":\"Cirque du Soleil has new owners, and with the acquisition, two new board members, one being former MGM Resorts CEO Jim Murren.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/former-mgm-resorts-ceo-jim-murren-named-cirque-du-soleil-board\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/former-mgm-resorts-ceo-jim-murren-named-cirque-du-soleil-board\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/former-mgm-resorts-ceo-jim-murren-named-cirque-du-soleil-board\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/11\/Cirque-Du-Soleil-AP.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/11\/Cirque-Du-Soleil-AP.jpg\",\"width\":1200,\"height\":800,\"caption\":\"Cirque du Soleil has new owners and board members, as the circus revamps for its post-COVID-19 return. 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