Vol. 9 • No. 23 • June 13, 2011 - Print This Issue
RSS 2.0 Feed
Vol. 9 • No. 23 • June 13, 2011, Featured Articles, GLOBAL GAMING BUSINESS PODCASTS
GLOBAL GAMING BUSINESS PODCAST: Dan D’Arrigo, Chief Financial Officer, MGM Resorts International
This week, the Global Gaming Business Podcast features an interview with Dan D’Arrigo, the chief financial officer for MGM Resorts International, on how the company’s finances have improved and the impact of CityCenter.
Download this Podcast Episode or Click Below to Play it.
Dan D’Arrigo succeeded current MGM Resorts President and CEO Jim Murren as CFO several years ago. He was just in time for the recession and the financial difficulties that brought to the company. And the construction of CityCenter didn’t help that financial crunch. In this interview, D’Arrigo explains how the company averted bankruptcy at the depths of the recession and why refinancing debt and writing down assets have contributed to an improved financial performance. He explains the company’s financial position today and how the operations in Macau have added to a healthier bottom line. He also explains how new marketing efforts, including the launch of the M life players club, will help improve the bottom line in the near future. He spoke with Global Gaming Business Publisher Roger Gros at his offices in Bellagio in March.
More Featured Articles
WEEKLY FEATURE: Asia Centric
The fifth annual G2E Asia was held last week in an environment of exploding growth for Macau. Delegates learned about expansion opportunities across the Pacific Rim and explored a trade show floor represented by almost 200 exhibitors. Sheldon Adelson (shown with American Gaming Association head Frank J. Fahrenkopf) received the show’s Visionary Award.
Caesars Ohio Cuts Deal With State
Two weeks after halting construction in Cleveland and Cincinnati, Rock Ohio Caesars COO Matt Cullen (l.) has cut a deal with Ohio Governor John Kasich to increase payments to the state, although the established tax rate will not change, and racinos would be approved.
Rank Majority Held By Guoco
U.K. gaming operator Rank Group has been taken by surprise at the success of a low £1.50-a-share offer from Malaysia’s Guoco Group. The mandatory bid managed to take Guoco’s stake in Rank from 41 percent to 56 percent in a matter of days.
Sands Cuts Ribbon on Pennsylvania Hotel
Politicians, regulators and executives gathered to officially cut the ribbon on the new 300-room hotel at the Sands Casino Resort Bethlehem.
India Gets First True Casino
Gaming fans in India will be happy to hear the country is getting its first land-based, full-service casino. The Mayfair Gangtok resort (l.) in Sikkim will be the first of its kind on the subcontinent.
Norton Exits Caesars
Founder of game-changing customer loyalty program, Total Rewards, says hail and farewell after 13 years with the international casino company.
Toledo to be First in Ohio
Newly appointed Hollywood Casino Toledo General Manager Richard Saint Jean (l.) brags that his casino will be the first of Ohio’s four regional casinos to open, unless the Ohio government throws another wrench into the mix.