Man who oversaw development of Beau Rivage leaving Mirage Resorts

Tuesday, April 25, 2000 | 12:22 p.m.

Barry Shier, chairman and CEO of GNLV Corp., a subsidiary of Mirage Resorts Inc., said Tuesday he will resign once MGM's acquisition of Mirage is completed.

In a prepared statement, Shier said he will spend time with his family and look at other "business opportunities."

As part of his duties with GNLV, Shier oversaw the construction and opening of Beau Rivage in Biloxi. The $700 million resort opened in March 1999 to glowing reviews but has posted earnings below expectations.

"This past decade has seen unprecedented change in the hospitality and gaming industry. During my years with Mirage Resorts, I have been extremely fortunate to have worked with so many fine and talented individuals," he said.

Mirage Chairman Stephen A. Wynn lauded Shier, calling him a "tremendous asset."

MGM Grand last month announced a $6.4 billion deal to buy Mirage Resorts. The acquisition is expected to be completed before the end of the year, pending approval of the Securities and Exchange Commission and various state gaming agencies.

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