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Best of Howard Stutz

Gaming Guru

Howard Stutz
 

Boyd Gaming COO Chakmak leaving the company

17 September 2014

Boyd Gaming Corp. said Tuesday chief operating officer Paul Chakmak was leaving the casino company.

Chakmak had been with Boyd since 2004. Company CEO Keith Smith said he would assume Chakmak’s responsibilities with the Las Vegas-based regional casino operator.

In a statement, Smith said Boyd has been looking for ways to improve its operational performance.

“Given today’s operating environment, we believe that more direct oversight and a streamlined decision-making process will position us to improve our operating performance going forward, and allow us to execute our growth strategy more quickly and effectively,” Smith said.

The company wouldn’t comment beyond the statement.

In Las Vegas, Boyd operates Sam’s Town, The Orleans, Suncoast, and three downtown casinos.

Chakmak also serves on the boards of the Las Vegas Convention and Visitors Authority, the UNLV stadium authority and the Nevada Resort Association, where he serves as vice chairman.

A Boyd spokesman said it was to still to be determined who from the company would fill those positions.

Chakmak moved to Las Vegas for a job with Boyd after leaving CIBC World Markets in Los Angeles, where he focused on debt and leverage financing.

He previously served as Boyd’s chief financial officer.

“Paul helped strengthen our financial organization as CFO, and as COO he helped guide our operations through a period of significant expansion,” Smith said.

In the same statement, Boyd Gaming reaffirmed its previous financial projections for 2014, saying the company’s cash flow would be in the range of $580 million to $600 million.