Wednesday, Jan. 30, 2008 | 3:46 p.m.
What is it about longtime Station Casinos executive and former Hard Rock
Hotel & Casino president Kevin Kelley that makes casino bosses want to pull
out their checkbooks?
Kelley, Station Casinos’ recently-installed Chief Operating Officer, is
getting a one-time bonus of $500,000, Station reported to the Securities and
Exchange Commission today.
But that’s nothing compared with the costly
golden parachute that Station gave former Chief Operating Officer Bill
Warner when he left the company – making room for Kelley’s entrance.
Previously, Kelley was hired from the Hard Rock by Las Vegas Sands, becoming
a senior vice president and relocating his family to Hong Kong to oversee
operations in nearby Macau. When his former employers at Station came
calling, Las Vegas Sands executives made a hefty counter offer. But it
wasn’t enough to keep Kelley from reuniting with the company he spent 10
years with.
If you listen to any of these companies, Kelley, who grew profit at Hard
Rock and Station properties, is worth it. He knows his way around the hip,
table games crowd and the older, slot machine crowd - two critical bases
that he will be covering at his new employer.
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