Vol. 8 • No. 1 • January 11, 2010 - Print This Issue
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Vol. 8 • No. 1 • January 11, 2010, Featured Articles, PEOPLE
Casinos Austria Shakes Up Management
At a meeting in December, the supervisory boards of Casinos Austria AG and Casinos Austria International approved the group’s international expansion plans. The first step in this strategic realignment is the reorganization of responsibilities at the board level, which includes the removal as chairman of Karl Stoss (left, at the debut of Mega Millions last year)
Gaming operator Casinos Austria has announced several executive management shifts to better focus its international efforts.
Josef Leutgeb, CFO of Casinos Austria International, stepped down from his role as financial director of Casinos Austria AG at the end of 2009 to focus primarily on the international business.
Paul Herzfeld, CEO of Casinos Austria International, will give up his role as deputy director general of Casinos Austria AG in mid 2010 to concentrate on the division's continuing international expansion activities.
To balance the absence of Leutgeb and Herzfeld and reinforce the parent company, Casinos Austria AG Director General Karl Stoss has given up his role as chairman of the CAI board. For that same reason, Dietmar Hoscher, a director on the Casinos Austria AG board, also has left the CAI board. Both changes took effect on January 1.
Bettina Glatz-Kremsner, the financial director at Austrian Lotteries GmbH, is now performing that same function at Casinos Austria AG.
After the December meeting where all the changes were announced, Director General Stoss said, "I am really delighted we have such a competent management duo as Paul Herzfeld and Josef Leutgeb heading up our international business activities, and Bettina Glatz-Kremsner will now handle finance for the whole Group. These are two important steps towards a lean and efficient management structure."
Stoss also commented on the continuing search for a potential partner for CAI.
"Our goal is to find the best, not the quickest solution," said Stoss. "Good things sometimes take time, and luckily we are not under any time pressure."
More Featured Articles
WEEKLY FEATURE: Singapore Sets VIP Rules
The long-awaited revelation of the rules governing the VIP market in Singapore were released last week and it appears that most of the conjecture was correct. As a result, it’s clear now that the VIP market will not be as important as it is in Macau and that the “mass market” will become a main target for any Singapore casino (Genting’s Resorts World Sentosa, left).
Pennsylvania Passes Tables
Lawmakers finally passed a bill to add table games to Pennsylvania’s slot-only casinos, including Philadelphia’s Parx Casino (l.), and to amend portions of the state’s 2004 gaming law.
GLOBAL GAMING BUSINESS PODCAST: The Late Redenia Gilliam-Mosee, Former Bally’s Executive
Redenia Gilliam-Mosee, a former Bally’s and Harrah’s Atlantic City executive, died last week, leaving behind a legacy that included deep community involvement. This week, we feature her last interview with Global Gaming Business magazine, for an interview that ran in February of last year.
When Great Might Not Be Good
Record revenues announced by Macau casinos could mean another effort by the Chinese government to cool the growth rate for casinos in the SAR.
Russia Staying the Course
During a televised meeting with journalists from the various Russian television networks, President Dmitry Medvedev (l.) made it clear that his government does not intend to back away from its anti-gaming position and will do nothing to help develop the four proposed “gaming zones.”