MGM Mirage formwer Chairman and CEO J. Terrence Lanni dies at age 68

MGM Mirage formwer Chairman and CEO J. Terrence Lanni dies at age 68

Lanni joined Caesars World Inc. in 1977, where he worked as chief financial officer, vice president and chief operating officer for over 18 years. In 1995, he joined Las Vegas casino and hotel operator MGM Grand as chief executive officer. Under Mr. Lanni management, MGM Mirage (Currently known as MGM Resorts International) became the largest casino and hotel operator in Las Vegas and the second-largest casino company in the world. Its properties include the Bellagio, Mirage Resort, Mandalay Bay Resort and Casino, and MGM Grand Hotel and Casino.

 

In 2000, Lanni conducted and oversaw the purchase of Mirage Resorts, and the creation of MGM Mirage. In 2004, he helped MGM Mirage to acquire Mandalay Resort Group and gain ownership stakes in several Las Vegas casinos and hotels, including the Luxor Las Vegas, Excalibur Hotel and Casino and Monte Carlo Resort, in addition to Mandalay Bay. By the time the deal closed, MGM Mirage owned half of the hotel rooms on Las Vegas Strip.

Mr. Lanni also presided the planning and development of the CityCenter. The an $8.5 billion, 67-acre  complex located between the Monte Carlo and Bellagio hotels on the Las Vegas Strip, is the largest privately financed construction development in the country’s history.  Mr. Lanni announced his retirement in November, 2008, after 13 years of work for MGM Resorts.

Lanni was also one of the leading and most respected characters in the gaming, hospitality, and entertainment industry.  In 2000, he was inducted into the Gaming Hall of Fame, and in 2001 was the recipient of Casino Journals 2001 Lifetime Achievement Award. Other awards and recognitions include the 2007 CEO Diversity Leadership Award from Washington-based Diversity Best Practices, the 2002 Philanthropist of the Year and the 2002 Distinguished Nevadan.

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