Cirque du Soliel Entertainment Group, the company behind multiple blockbuster Strip shows, has emerged from creditor protection in Canada with new ownership and a board including former Las Vegas casino executive Jim Murren.
Cirque today confirmed the closing of the previously announced sale with its secured lenders.
The deal will provide Cirque a solid foundation for a successful relaunch, including enhanced fan experiences and a concerted drive into new markets, the company said in a news release.
Daniel Lamarre will remain president and chief executive officer and will continue to sit on the company’s board of directors.
Murren, the former chairman and CEO of MGM Resorts International, is joining the board as co-chairman, along with Gabriel de Alba, managing director and partner of Catalyst Capital Group, the company said.
“As a company with global opportunities and the ability to grow quickly, it is critical to Cirque’s successful expansion – and to its customers and partners – that we continuously execute on the right strategies,” Murren said in a statement. He said he had the “utmost confidence” in Lamarre’s ability to grow the franchise.
Cirque is the creative power behind such popular Las Vegas shows as Love at the Mirage, Michael Jackson One at Mandalay Bay and Mystere at Treasure Island.
Lamarre said he was looking forward to working with the new stakeholders and that “together, we have already begun laying the groundwork for the relaunch of Cirque du Soleil and are excited to enter the next chapter of Cirque’s history.”