The San Manuel Band of Mission Indians has named former MGM Resorts International executive Daniel D’Arrigo as its new Chief Financial Officer. The former long-time Fortune 500 executive is set to lead the California tribe’s growth and development strategy, which includes the recent purchase of the Palms resort on the Vegas Strip and future plans for a reopening.
D’Arrigo comes to the San Manuel enterprise with more than 25 years’ experience in senior finance and capital markets roles in the gaming, leisure and hospitality industry, including a number of big and successful entities, such as MGM.
“As Chief Financial Officer, Dan will play a critical role in leading the Tribe’s fiscal strategy, growth and development,” said Laurens Vosloo, CEO for the San Manuel Band of Mission Indians. “One of Dan’s greatest strengths is his credibility with the investment community and capital markets. We are very pleased that Dan is joining our team at a time when the tribe is experiencing tremendous growth and has such great potential for new opportunities.”
D’Arrigo previously served as Executive Vice President, Chief Financial Officer and Treasurer of MGM in Las Vegas, where he oversaw the company’s domestic and international financial functions, including corporate finance, treasury, shared services, internal audit, and investor relations.
During his tenure with MGM, he was instrumental in structuring the acquisition and financial strategies to acquire Mirage Resorts and Mandalay Resort Group, says the tribe. He also played a key role in expanding the company’s portfolio internationally, as well as the creation of the company’s real estate investment trust.
“I am extremely honored and humbled to be joining the San Manuel enterprise,” said D’Arrigo. “The tribe has achieved much success while also assembling a top-notch leadership team under Laurens’ direction. I look forward to working alongside such experienced colleagues and further positioning the enterprise for long-term sustainable growth.”
The new appointment comes as the tribe prepares for the reopening of the Palms Casino Resort on the Vegas Strip. Originally slated to occur in late March, the tribe says it will take place at some point this spring. A series of hiring events are being held ahead of the date.
The tribe acquired the property, which remains closed since March 2020, from Red Rock Resorts last year for $650 million. The San Manuel Gaming and Hospitality Authority -the gaming and hospitality business of the tribe- secured approval from Nevada officials to operate the property in early December.
The revamped property will feature over 700 rooms and about two dozen restaurants, along with a William Hill sportsbook, earlier reports indicated. But also importantly, Palms will be making history by becoming the first resort in Las Vegas fully owned and operated by a Native American Tribe.
The San Manuel tribe also owns and operates Yaamava’ Resort & Casino at San Manuel in Highland, California, its home state. The now-rebranded venue was formerly known as San Manuel Casino, and started 35 years ago as a bingo hall. It now has become one of Southern California’s premier gaming and hospitality destinations.
Original article: https://www.yogonet.com/international/news/2022/03/29/61987-palms-39-new-owner-san-manuel-tribe-hires-former-mgm-executive-daniel-d-39arrigo-as-cfo
