The palms casino resolts
How would then Station Casinos go about doing that?
Most recently, Stephanie served as Vice President, Program Publicity and Corporate Communications at Viacom Media Networks in Santa Monica,.
Assuming promotional allowances of 8 of gross revenues, we calculated the gross revenues to.8 million.
Even assuming there was some disruption due to the change in ownership and management, that figure shows Palms is a very different breed of casino resort than other Station properties.Will casino revenue at a Stationized Palms go from one-third of total revenue to two-thirds of the total?This would suggest that, in a best-case scenario, investors might see Palms making annual ebitda of close to 70 million (425.5 x.9) after the renovation is done by the end of second quarter next year.And we do not believe the revenue mix has changed significantly at GVR and Red Rock, since the most recent pre-Palms financial disclosures continued to show the overweighting of casino revenue in its Las Vegas properties.Stephanie also represented high-profile personalities such as CEO of Nigel Lythgoe Productions, executive producer of juggernaut American Idol and co-creator, judge and executive producer of Foxs long-running, hit summer show, So You Think You Can Dance, Nigel Lythgoe.This is a much more ambitious target than the 35 million the company originally put forth when it announced the acquisition.Management instability Whatever the strategy there is for growing revenue (and ebitda) at Palms, why is Station Casinos already onto its third general manager at the property in less than a years time?Heres the revenue breakdown of major Strip properties last year, according to the most recent.She completed her major and studies in Spanish in Granada, Spain at the Universidad de Granada.It is true that these hybrid properties, which according to the company appeal to both Las Vegas residents and tourists, have a greater non-gaming side to their operations, but they still seem to be very different than Palms.(In millions) 9M16 of Gross Casino revenues 706.2.0 F B revenues 196.6.6 Rooms revenues.6.4 Other revenues.4.0 Gross revenues 1,054.6 What kind of management experience can a company like this bring to Palms?
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What is Station Casinos doing with Palms?As explained by CFO Stephen Cootey, the companys expected returns on any capital expenditures are in the mid to low teens range.Beverage 1,126.1, other 2,335.8 Total 15,805 This is not how Station Casinos has run its business.(Gray did sign as the general manager letters informing workers of their termination bingo and rolly cake due to the closing of several F B venues at Palms in early September.) The hiring of Gray was something of a homecoming, for he was an executive at the Palms when.Palms is not a typical Station Casinos property.With nearly fifteen years of entertainment, television, lifestyle and corporate experience, Stephanie Ceccarelli is a seasoned media relations veteran.He also opened the non-gaming F B/entertainment linq District on the Strip and worked for Nike in Oregon before returning to Palms.In fact, the casino department contributed only approximately 37 of its property-level gross revenue during the fourth quarter of last year, according to Red Rock Resorts 10-K.Stephanies efforts were aimed at driving show tune-in for ratings success and she was also responsible for helping shape and implement consumer, business and trade press strategies in support of broader Viacom brand priorities.Over the course of almost eight years, she was promoted four times; she started as a Senior Account Executive and worked her way up to Vice President, Entertainment Publicity, where she began operating her own department and was responsible for strategic oversight of a five-person team.Stephanie led a team of three while at CMT.
Her clients range from Miracle Mile Shops, The Cosmopolitan of Las Vegas, Tuscany Suites Casino to Blue Man Group, Major Series of Putting, help of Southern Nevada, Shriners Hospitals for Children Open and Credit One Bank.
(In millions) Gross Revenues Gaming Revenues Gaming as of Gross Palace Station 176.1 126.0.6 Boulder Station 216.9 174.7.5 Texas Station 143.3 107.9.3 Sunset Station 222.9 168.0.4 Santa Fe Station 184.1 150.3.6 Green Valley 297.9 202.9.1 Fiesta Rancho.2.0.
When Stations Casinos officially took over last year, Michael Jerlecki, formerly the general manager of Palace Station, which is not one of the companys luxury properties, was made the new Palms general manager.
And while Stephanie most recently specialized in television program and corporate publicity, her career roster includes a host of diverse corporate, lifestyle and entertainment clients.