Stephen Cootey, a former Wynn Resorts CFO, has taken over the position at Red Rock Resorts, replacing Marc Falcone, who resigned effective May 31.
Cootey, 48, a one-time Wall Street analyst, joined Red Rock subsidiary Station Casinos in March as executive vice president and chief administrative officer. He’d been Wynn’s CFO since May 2014 and treasurer and senior vice president before that.
Prior to joining Wynn he worked at Las Vegas Sands as senior vice president of corporate finance from March 2012 to December 2013 and as vice president of corporate finance from October 2009 to March 2012.
Before joining the industry he was a partner and senior research analyst of Prides Capita and a vice president of Credit Suisse First Boston.
J.P. Morgan analyst Joseph Greff speculated the change came as a result of Red Rock’s mixed earnings results since the company’s initial public offering and a less-than-clear positioning of the recently acquired Palms in Las Vegas.
“We are comfortable with Steve taking over from Marc,” Greff said in a research note. “We don’t think this change signals an increase in the company’s earnings risk profile and note the departure appears to be amicable.”
Falcone, who also worked on Wall Street at one time, will provide consulting services to Station over the next 12 months at his base salary of $50,000 a month plus benefits, the company said.
