Resorts World Las Vegas is going through significant leadership changes as the company makes strides to stabilize and grow following a series of challenges. On Thursday, the company confirmed that Alex Dixon, who served as chief executive officer for just under four months, will transition into a new role as a senior advisor to the Board of Directors. This move places Carlos Castro at the forefront as the newly named president and chief financial officer. Dixon’s new responsibilities will encompass leading projects on an enterprise level and cultivating strategic partnerships to drive revenue.
The leadership change comes amid the resort’s ongoing recovery from a damaging illegal betting scandal. Castro, a long-time hospitality veteran, has already made significant contributions by hiring top talent in compliance, international marketing, and food and beverage sectors. In a statement, the company expressed confidence in Castro’s ability to seamlessly transition into his dual leadership role. Acknowledging the “hit” taken in the last three quarters, Castro emphasized the resort’s focus on rebuilding its casino operations, especially by boosting slot revenue, which has seen a notable decline.
Resorts World Las Vegas expects recovery within the next 12 to 18 months as they ramp up their diligent marketing and sales efforts. Castro mentioned that even though the gaming sector is in recovery mode, non-gaming areas are currently performing well. Strong hotel occupancy rates, impressive daily rates, and robust convention bookings have all contributed to the resort’s positive outlook. The resort’s 200,000 square feet of meeting space and catering services remain profitable, bolstered by a thriving food and beverage division. However, Castro sees potential for further growth in these sectors.
Additionally, Josef Wagner, previously of the Bellagio, has joined the team as the new senior vice-president of food and beverage, suggesting an enhanced focus on culinary excellence. Castro also disclosed plans for a comprehensive overhaul of retail operations, emphasizing the need for cost efficiencies across the resort. The team has been praised for their efforts in addressing inefficiencies, showcasing a proactive approach to internal optimization. All these steps are seen as part of a broader, strategic move to steady the ship and guide the resort towards brighter days.
In March, the company faced a significant setback after it and its affiliates were fined $10.5 million following an investigation that found the casino allowed gamblers connected to illegal bookmaking
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