CasinoCityTimes.com

Gurus
News
Newsletter
Author Home Author Archives Author Books Send to a Friend Search Articles Subscribe
Stay informed with the
NEW Casino City Times newsletter!
Newsletter Signup
Stay informed with the
NEW Casino City Times newsletter!
Related Links
Related News
Recent Articles
Best of Howard Stutz

Gaming Guru

Howard Stutz
 

Former MGM executive McBeath joins Affinity Gaming shareholder

25 September 2014

LAS VEGAS -- Former MGM Resorts International executive Bill McBeath was named managing director of Illinois-based Z Capital Partners, the largest shareholder of casino operator Affinity Gaming.

McBeath, who once oversaw Bellagio and CityCenter’s centerpiece Aria Resort & Casino, joins the private equity firm that controls 33.7 percent of Las Vegas-based Affinity, owner of 11 casinos in four states.

“Bill brings to this role nearly 30 years of experience in starting, building, growing and improving the profitability, performance and value of companies within the gaming and resort industry,” Z Capital CEO James Zenni said in a statement Wednesday.

Zenni said McBeath’s background would be helpful as the firm “actively continue(s) to operate assets in the gaming and resort sector.”

McBeath, who left Aria in December 2012, serves as chairman of Las Vegas Events. He joined MGM Resorts in 1987. He was part of the opening team for CityCenter and served as the development’s chief operating officer.

Z Capital has been heavily involved in Affinity’s direction.

In August, Affinity finished remaking its corporate leadership, naming longtime Caesars Entertainment Corp. executive Michael Silberling as CEO and appointing three new board members, including Zenni.

Hedge fund Silver Point Capital of Connecticut owns 25.1 percent of the company and the Silver Point senior analyst, Richard Parsi, is Affinity’s chairman.

In Nevada, Affinity operates five casinos, including the three Primm resorts and the off-Strip Silver Sevens. The company also owns three Colorado casinos, two casinos in Missouri and an Iowa casino.

Affinity is not publicly traded, but has $382.7 million in long-term publicly held debt.

McBeath, 52, served as president of several different MGM-owned Strip hotel-casinos, including Treasure Island, The Mirage and Bellagio. He joined CityCenter in 2007, focusing on Aria.

McBeath worked closely with CityCenter CEO Bobby Baldwin from their days at Mirage Resorts, which merged with the then-MGM Grand Corp., in 1999. Baldwin brought him aboard early and McBeath actually held two jobs, serving for two years as president of Bellagio.

McBeath is a Clark High School graduate and a 1986 graduate of the University of Nevada, Las Vegas.
Former MGM executive McBeath joins Affinity Gaming shareholder is republished from Online.CasinoCity.com.