MGM Resorts International has appointed Providence Equity Senior Managing Director Paul Salem to its board, expanding the number of directors to 13.
Salem joined Providence in 1992 and helped set up the company’s credit investment arm Benefit Street Partners, according to a statement Wednesday by MGM Resorts.
The president of Benefit Street Partners is Richard Byrne, a long-term gaming industry banker who was appointed to the Wynn Resorts board earlier this month.
Providence Equity manages $60 billion in assets, including private equity and credit. Prior to joining Providence, Salem worked in corporate finance and mergers and acquisitions at Morgan Stanley.
Salem’s hire also comes as MGM Resort seeks to regain investor confidence following twoquarters of disappointing results. Shares of MGM Resorts have fallen 25 percent since reaching a 10-year high in February.