Gambling in the USA
Everi Announces Senior Management Transition
The Board of Directors of Everi Holdings has announced that Chief Executive Officer Michael D. Rumbolz will be appointed Executive Chairman of the Board and that current Chief Operating Officer Randy L. Taylor will succeed Mr. Rumbolz as Chief Executive Officer of the Company. Mr. Taylor also will be appointed to the Board of Directors. All appointments will be effective 1 April 2022.
“Under Mike’s leadership the Company’s market capitalization has increased from $168 million at the time of his appointment as Interim President and CEO in February 2016 to approximately $2 billion today. The Company’s appreciation in market value, the significant growth we have achieved across our business and the culture of collaboration and innovation that exists at Everi today all directly reflect Mike’s leadership. Mike was instrumental in establishing a vision for Everi, and he steered the Company through significant changes while implementing new operational practices. His contributions include improving the Company’s depth and breadth of leadership, driving a corporate culture based on teamwork, collaboration and inclusion, and putting Everi on a growth path based on continuous operational improvement. He led the Company’s smart, targeted internal and external investments that have significantly improved the Company’s earnings power and its Free Cash Flow. Mike has placed Everi on a very strong foundation for the future. On behalf of our Board of Directors, we sincerely thank Mike for his nearly six years of outstanding service to the Company as our CEO, and we are excited that we will continue to benefit from his experience, insights and guidance as Executive Chairman,” Ronald Congemi, Lead Independent Director of Everi, said.
“During his more than ten years at Everi, Randy Taylor has consistently assumed additional leadership and operations responsibilities. We are very fortunate to have a talented executive in Randy who is capable of seamlessly stepping into the CEO role to continue to lead and advance the strong growth trajectory and momentum the Company has established over the last several years. Randy knows Everi intimately and has played a critical role in shaping the Company’s growth initiatives while also being a leading advocate for establishing the values and principles we stand for as a company. Randy is highly respected by all of our stakeholders, both in and outside the company, and the Board is highly confident he is ideally suited to become our next CEO to continue to advance and execute Everi’s growth strategy in the years ahead,” Ronald Congemi added.
“I am honored by the trust the Board has shown me and excited by the substantial opportunities we have to grow Everi in the years ahead. Mike has had a tremendous influence on building Everi, and I have greatly appreciated the opportunity to work closely with him. With our core, recurring-revenue businesses continuing to grow strongly and early-phase growth ventures like iGaming and our cashless wallet technology set to be meaningful contributors in the future, Everi is favorably positioned for near and long-term growth and continued success,” Randy Taylor said.
Randy Taylor has served as President and COO since 1 April 2020, having previously been Executive Vice President, CFO, and Treasurer since March 2014. Mr. Taylor joined Everi in November 2011 as Senior Vice President and Controller.
Prior to joining Everi, he served at Citadel Broadcasting Corporation for ten years rising through a variety of financial roles to become Chief Financial Officer and Principal Financial Accounting Officer. Previously, Mr. Taylor served in various financial positions in the gaming industry with both casino operators and gaming suppliers.
“It has been an honor to serve as Everi’s CEO, working with the finest team in the industry for nearly six years. I believe the Company’s best years are still ahead and I look forward to all of Everi’s future successes. I am confident that under the continuity of the Company’s leadership highlighted by Randy assuming the CEO role and with our great team, that Everi will continue to drive our existing business momentum and will continue to grow shareholder value,” Mike Rumbolz said.
As discussions about legalizing gambling in Georgia gain momentum, major casino operators like Wynn Resorts and Boyd Gaming are poised to lead the charge if the state changes its restrictive laws.
During a recent Georgia House study committee meeting, Christopher Gordon, president of Wynn Resorts’ development arm, expressed keen interest in building a multibillion-dollar casino should legal barriers be removed. Similarly, Boyd Gaming’s government affairs vice president Ryan Soultz highlighted Georgia’s market attractiveness.
Wynn’s model would be similar to its $2.6 billion Encore Boston Harbor, suggesting that a new Georgia casino could employ up to 4000 workers and contribute substantial gaming tax revenue.
Although specific locations have not been chosen, both companies have indicated they would need constitutional changes to move forward. Their willingness to invest heavily in the Peach State demonstrates a strong belief in the untapped potential of the state’s gambling market.
Such developments offer a compelling argument for lawmakers to consider gambling expansion, marking a shift toward economic incentives as a primary motivator for legislative change.
Should Georgia proceed with legalizing casino gambling, the legislative language will be crucial in shaping the industry’s landscape. Key proposals may include requiring casino companies to invest at least $1.2 billion per resort and generate a minimum number of jobs, often set at around 10,000 per license. This ensures that any developments bring tangible benefits to the local economy.
Additional legislative demands include rigorous background checks for key personnel, proven industry experience, and adherence to strict technical and financial standards. Only companies with substantial capital and robust infrastructure, like Wynn Resorts and Boyd Gaming, are likely to meet these stringent requirements.
Gambling in the USA
Plaza Hotel & Casino to welcome the U.S. National Champions Summerlin South All Stars to be TNT Ignitors for Welcome to the Weekend Friday Fireworks, next Friday, Sept. 5
The Plaza Hotel & Casino will welcome the U.S. National champions, the Summerlin South All Star team to be the special guest TNT Ignitors of the property’s Welcome to the Weekend Friday Fireworks show, next Friday, Sept. 5 at 9:15 p.m., taking place on the Plaza’s rooftop pool deck.
“Getting to ignite the Plaza’s amazing fireworks show is a great honor for the team,” said Chris Mallory, president of Summerlin South. “And we thank the Plaza and Jonathan for the warm welcome and fun celebration planned for the team, including a pizza party for them and their families.”
“All of Las Vegas is proud of the accomplishments that the Summerlin South team made in the All Star postseason,” said Jonathan Jossel, CEO of the Plaza Hotel & Casino. “We look forward to hosting the team and their families, and we hope all of their fans come out to celebrate with them and enjoy the fireworks show.”
The summer fireworks shows are staged from the top of the Plaza’s South Tower every Friday at 9:15 p.m. from May through September.
The public can watch the Welcome to the Weekend Friday Fireworks Show for free at the rooftop pool, at Carousel Bar under the Plaza’s iconic dome, and from in front of the Plaza on Main Street, which will be closed to vehicular traffic during the show for viewing the fireworks from Carson Avenue to Ogden Avenue.
The Plaza’s fireworks will be dependent on weather conditions and are subject to change or cancellation. Updates will be available on the Plaza’s social media channels, including Facebook, Instagram and Twitter.
New Hampshire charitable gaming revenue has reached $24.8 million last month, up from the previous year’s figure of $14.5 million, boosted by the opening of new casinos.
The latest figures come from the New Hampshire Lottery and Gaming Commission, which shows that of the 15 casinos, only four saw losses, while four others were not in operation last July.
The Nash Casino, which opened in March, generated the highest revenue of all the casinos – $5.8 million.
The highest year-over-year increase was seen by the Revo Casino Lebanon, which opened in a new location in December, and saw revenue rise by 321% from $387,836 to over $1.6 million.
Other notable rises were seen from the Lakes Region Casino, which generated an increase of 24% year-over-year and The Brook, which saw a 17% rise from $4.7 million to $5.5 million.
The biggest declines came from The Lucky Moose Casino, where profits dropped by 79% from $666,454 to $139,748, and the Gate City Casino, which saw profits fall by 16% from $2.7 million to $2.3 million.
Historic horse racing revenue rose by 85% year-over-year, from $10.6 million to $19.7 million, while games of chance revenue increased by 53% from $3.3 million to $5.1 million.
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