CFO resigns at Casino Data, chief executive appointed

Tuesday, June 2, 1998 | 11:59 a.m.

Casino Data Systems Inc. today said long-time computer-industry executive Howard Yenke was named chief executive officer and a director of the company.

The slot and information-systems manufacturer also said Michael Perez, who joined the Las Vegas-based company during the regime of former chief executive Kenneth Hardesty, has resigned as chief financial officer and executive vice president.

CDS said Perez left "in connection with" Hardesty's departure. Lee Lemas, CDS vice president of finance, will assume the CFO duties.

After leading a turnaround in the company's fortunes, Hardesty resigned last month due to a prolonged licensing investigation that would have delayed CDS sales in a Midwestern state for six to 12 months.

The investigation centered on a disputed 35-year-old incident, but details weren't disclosed. Hardesty oversaw efforts that led to first-quarter net income of $320,000, or 2 cents a share, after five consecutive losing quarters.

CDS Chairman Steve Weiss said Yenke is "a seasoned executive who brings an extensive business management background, which includes a combination of public and private experiences with both small and large organizations."

Yenke, 61, was most recently president and chief operating officer of Silent Systems Inc., a private company providing thermal and acoustic products to the personal computer industry. He is a former president and chief executive officer of LANart Corp., a private company providing network solutions to the personal computer industry.

Earlier in his career, Yenke was president of Boca Research Inc. and spent 25 years with IBM Corp. in various executive and management positions. He is a director of Checkmate Electronics Inc., Access Solutions International Inc. and Communications Systems International.

The jackpot for CDS' Cool Millions Quarters multi-site progressive slot, which is found in more than 65 casinos statewide, currently exceeds $3.8 million, making it the largest quarter progressive in Nevada history.

CDS stock was down 6.25 cents a share, to $3.3125, in light mid-morning trading today. The only two gaming analysts who follow the company regularly expect the company to report a 3-cent-per-share loss for the second quarter, but to post improved results for the remainder of the year.