Published on: December 6, 2024, 10:28h.
Last updated on: December 6, 2024, 10:44h.
A new organization received initial regulatory approval this week to oversee the daily operations at Virgin Hotels Las Vegas.
The Nevada Gaming Control Board (NGCB) endorsed the proposal for an entity named “C&C 4455” to take charge of the day-to-day management at the off-Strip property, as reported in the Las Vegas Review-Journal.
C&C 4455 is headed by Cliff Atkinson, the hotel’s president, and Chad Konrad, its chief financial officer. Atkinson will assume the role of CEO for the entity, while Konrad will continue as the CFO.
Before the management transition can be implemented, the proposal also requires approval from the Nevada Gaming Commission (NGC).
Prior Management Challenges
The establishment of the new entity is viewed as a practical decision given the difficulties faced by the previous management, officials informed the regulators.
“Since reopening, the property has faced challenges. I think that’s quite public knowledge,” stated Atkinson during the NGCB meeting on Wednesday.
Virgin Hotels was previously operated by Mohegan Gaming & Entertainment.
The partnership with Mohegan simply did not yield results,” Atkinson explained. “The reason we are seeking approval for C&C 4455 is to effectively turn around the gaming operations.”
Atkinson mentioned that current plans include enhanced marketing strategies targeted at local players and visitors, the addition of more entertainment and amenities, and the expansion of customer loyalty programs, according to the Review-Journal.
“We both share a similar vision for the property, particularly the casino, and our confidence in our ability to significantly boost the casino’s performance and ensure its continued operation,” Konrad added.
Members of the Culinary Union Local 226, who initiated a strike at the Virgin Hotels Las Vegas on November 15, also voiced their opinions at the NGCB meeting.
Unfortunately, we are dealing with a company that is unwilling to meet the standards that we have negotiated in Las Vegas. They are the sole remaining company that has not engaged in fair contract negotiations,” said Culinary Union Secretary-Treasurer Ted Papageorge to the NGCB.
The property is jointly owned by Juniper Capital Management, a Canadian pension fund, and Richard Branson’s Virgin Group.
Absent Owners at Meeting
One union member, Paul Catha, questioned why no representatives from the ownership group attended the meeting on Wednesday.
Why wouldn’t Nevada require the owners of Virgin Las Vegas to be present during the review of the resort’s application to operate its own licensed casino?” Catha inquired at the NGCB meeting.
“We believe Nevada gaming regulators should delve deeper and ask broader questions regarding the funding sources and ultimate control at Virgin Las Vegas,” he added.
The Culinary Union is advocating for salary raises and increased benefits for hospitality workers at the Virgin Hotels, similar to the recent gains made by employees at other hospitality properties in Las Vegas where the union represents workers.
On the other hand, Virgin Hotels Las Vegas alleges that the Culinary Union is negotiating in bad faith.
“The Culinary Union has failed to make a serious counteroffer to any of our economic proposals, nor have they presented our latest offer to their members for a formal vote,” stated the casino in a press release.