VEGAS INC Magazine - Latest Las Vegas business news, features and commentaries about gaming, tourism, real estate and more
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In business on the move gaming Caesars executive leaving for post with governor of california Sands CFO leaving despite strong earnings in first quarter By Ed Komenda staff writer By Ed Komenda staff writer An executive of Caesars Entertainment Corp. is leaving her job to work for Gov. Edmund Brown Jr. in California. Marybel Batjer, the company's vice president of public policy and corporate social responsibility, will now serve as secretary of the Government Operations Agency. In her new role, created during government reorganization, Batjer will supervise state procurement, human resources and information technology. Although she has accepted the position, Batjer, a 58-year-old Democrat, has to await confirmation from the Senate. If approved, her new salary will be $180,250. Before Batjer joined Caesars in 2005, she served as cabinet secretary for Gov. Arnold Schwarzenegger from 2003 to 2005; chief of staff for Nevada Gov. Kenny Guinn from 2000 to 2003; and undersecretary at the California Business, Transportation and Housing Agency from 1997 to 1998. Kenneth Kay is leaving his job as chief financial officer of Las Vegas Sands Corp. He will leave his post effective July 31, but plans to help the company in a six-month transition, according to a filing with the Securities and Exchange Commission. Las Vegas Sands plans to pay Kay an additional year's salary and pro-rated bonus for 2013. He's also entitled to continued health care for a year or until he finds a new job. Kay's exit follows record earnings for Las Vegas Sands. The company in May reported record first-quarter earnings, driven by massive growth in Macau. The company's first-quarter revenue grew 19.5 percent to $3.3 billion, collecting a profit of $572 million, or 69 cents a share. The numbers were up 14.6 percent from a year earlier when Sands reported a profit of $498.9 million. | 2 2 J U LY 2 0 1 3 20130722_VI07_F.indd 11 | sisolak wants outside marketing assistance laughlin, From page 7 for industrial uses in the valley's urban core make the county's parcel an attractive option, as does its proximity to Interstate 40 and a nearby railway, Restrepo said. "This project, if done properly, would be pretty beneficial to Southern Nevada if you can solve some of the utility infrastructure and transportation infrastructure problems," he said, but the county will likely need a private-sector partner to manage the development. "Trying to do something of this size managed directly by the public sector would be, in my opinion, problematic," Restrepo said. "(The county) should consider hiring a development management team to make sure it's managed properly and sold properly, because they have the expertise to do it." Commissioners discussed the future of the property during a recent board meeting and gave staff guidance on the next steps to take. Sisolak said he'd like the county to engage outside help to market the property to interested buyers. Even though that might cost some money up front, he says it will be a wise investment that pays for itself. "I'm not talking about a little multiple-listing Realtor. I would like to get somebody that had nationwide or even international reach to be able to talk to folks and do some advertising," he said. "The cost would be minimal compared to the potential upside." 11 7/18/13 2:10:01 PM