The Senior Vice President-Entertainment Finance and Strategy is to provide strategic leadership and direction for the Entertainment teams and operations. It is the responsibility of this executive to effectively safeguard the assets within this operation through oversight of all financial and strategic aspects. This position will oversee teams that manage accounting and transaction processes for MGM’s larger entertainment venues, and manage the financial planning and analysis activities related to Corporate Entertainment, and oversee the strategic planning process and execution of the strategic plan for Corporate Entertainment. The Senior VP-Entertainment Finance and Strategy also needs to be able to assist the business with strategic and operational decisions, and identify, negotiate and implement transactions that advance the Corporate Entertainment strategy such as strategic alliances, partnerships and possible M&A activities. All duties are to be performed in accordance with departmental and MGM Resorts policies, practices and procedures. STRATEGY AND ANALYSIS AND OTHER Develop and implement reporting strategies to ensure stakeholders have relevant information, such as monthly reporting package for joint venture, event financial summaries, venue summary results, etc. Manage capital process for entertainment venues, including requests, ROI analysis, etc. Oversee strategic planning process and execution of initiatives, as well as tracking of progress (key metrics) and communication to stakeholders. Liase with revenue management on pricing, deal points, ticket forecasts and related matters to help maximize revenues and minimize risk. Liase with Enterprise Analytics on more complex analytics, such as the impact of entertainment on the larger organization, or analysis of large potential content deals. Identify, negotiate and implement transactions that advance the Corporate Entertainment strategy such as strategic alliances, partnerships and possible M&A activities. OPERATIONS Ensure consistent processes for event settlement and ensure promoters are paid timely. Key participant in purchasing and compensation processes related to the Corporate Entertainment departments. Consult on specific transactions such as ticketing (i.e., whether to apply LET), marketing (i.e., how to account for uneven revenue streams) and operations (i.e., analyzing F&B commissions). Ensure department leaders and their teams understand our financial statements and are managing their departments for profitability. Provides leadership on various projects, initiatives and continuous improvement initiatives within Entertainment, and drive sustainability of executed projects. ACCOUNTING AND FINANCE AND OTHER Accounting oversight for T-Mobile Arena, Grand Garden Arena, Mandalay Bay Events Center, Mandalay Bay Beach, Park Theater. Accounting consultation for the Theater at National Harbor, and MassMutual Center. Develop and implement policies and procedures for daily, weekly, monthly and quarterly accounting processes. Liase with Corporate Accounting and Finance Shared Services Center (FSSC) for accounting processes managed by those groups and to assist with entertainment accounting issues when necessary. Oversee contract negotiation activities and compliance to current agreements for Entertainment, and ensure accounting is appropriately implemented for contracts. Oversee significant accounts receivable and deferred revenue accounts, ensure reconciled regularly, and coordinate collections with the business. Manage the annual budget process and ensure processes exist for efficient and effective assumptions and creation of budgets, including communication to relevant parties. Implement reforecasting process, and ensure other ad-hoc means of reporting exist for general analysis of performance. Collaborate with Corporate Finance to ensure we monitor debt compliance and proactively manage any issues. Creates a work environment that promotes teamwork, performance feedback, recognition, mutual respect, and employee satisfaction; quality hiring, training, and succession planning processes that encompass the company’s diversity commitment. Other job duties as assigned.
Bachelor’s degree in related field and/or equivalent years of work experience.
At least twelve (12) years of experience in a leadership capacity, in special event, entertainment, catering or hospitality industry.
Must have financial reporting and analysis experience for a major hotel/casino or entertainment organization and in-depth understanding and application of applicable federal, state, and gaming regulations.
Must possess strong leadership abilities, interpersonal skills, sound judgment, superior decision-making and problem solving skills with excellent oral and written communication to effectively deal with internal and external contacts.
CPA/MBA certification preferred
Participation in significant transactions – financing, M&A, partnership negotiation, related.
MGM Resorts International (NYSE: MGM) is one of the world's leading hospitality companies, operating a portfolio of destination resort brands, including Bellagio, ARIA, MGM Grand, Mandalay Bay and The Mirage.
The MGM Resorts International brand is synonymous with events and entertainment, presented to the world
through a unique portfolio of resort destinations, live concerts, theaters and are...nas. MGM Resorts International hosts a lineup of world-class entertainment from championship boxing matches and superstar headliners to premier sporting events and cutting-edge theatrical productions.
The Company is also currently in the process of developing MGM National Harbor in Maryland and MGM Springfield in Massachusetts. The Company also owns 51 percent of MGM China Holdings Limited–which owns MGM Macau resort and casino and is currently developing a gaming resort in Cotai– and 50 percent of CityCenter in Las Vegas, which features ARIA Resort & Casino.
The commitment of each of our employees at each of our resorts to creating the ultimate experience for our guests is the essence of MGM Resorts International.
For more information about MGM Resorts International, visit our Company's website at mgmresorts.com.
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