In a fresh leadership shuffle, Resorts World Las Vegas has appointed Carlos Castro as president and chief financial officer, replacing Alex Dixon, who will transition to a senior advisory role
Resorts World Las Vegas is once again reshuffling its executive leadership. On Thursday, the company confirmed that Alex Dixon, who had been chief executive officer for just under four months, will transition into a new position as senior advisor to the Board of Directors.
Stepping into the leadership role is Carlos Castro, who has officially been named president and chief financial officer.
“Seamless Transition” Expected
Dixon’s new position will see him advance projects at an enterprise level and create strategic partnerships that will drive revenue.
The move marks a fresh chapter in a series of leadership changes following the property’s ongoing efforts to recover from a damaging illegal betting scandal.
“We are confident that this will be a seamless transition with industry veteran and respected long-time hospitality leader Carlos Castro stepping into the president and chief financial officer role,” the company said in a statement.
The same statement spoke about Castro’s “major contributions to the property” by bringing in “top area talent in the areas of compliance, international marketing, and food and beverage”, adding that the company’s “best days are around the corner”.
“We Do See Recovery Coming in 12 to 18 Months”
During a presentation to the Nevada Gaming Control Board on Wednesday, Castro acknowledged that the resort’s casino operations are still in a recovery phase, mentioning the “hit” that the company took in the last three quarters and adding that they’re “looking to rebuild that business”.
The solutions he spoke about mentioned a focus on boosting slot revenue, which has seen a notable decline.
“We do see recovery coming in 12 to 18 months as that business ramps up and we become more diligent in our marketing and sales efforts,” Castro said. “We’re confident that business will return.”, he added.
Meanwhile, non-gaming sectors are performing well. Hotel occupancy, average daily rates, and convention bookings are strong.
The resort’s 200,000 square feet of meeting space and catering services have been profitable. The food and beverage division is also “doing well,” according to Castro, but there’s room for growth.
Josef Wagner, formerly of the Bellagio, has joined as the new senior vice-president of food and beverage.
Castro also revealed a “complete overhaul” of retail operations and emphasized efforts to identify cost efficiencies across the resort while praising the team’s “excellent job of going after areas of inefficient opportunities”.
In March, Resorts World Las Vegas and its affiliates were set to pay a $10.5 million fine as a result of an investigation that revealed the casino allowed gamblers connected to illegal bookmaking operations and individuals with federal felony convictions to gamble at the venue.
