THE MODERN CEO
A new breed of CEO F
ollowing 30 years of gaming’s explosive growth across the US unexpected issues have emerged. All modern executive’s responsibilities now include
confronting advanced security methods, technology dangers and employee conduct mandates, to name a few. In 2020, American gaming’s “big tent”
TIM WILMOTT, FORMER CEO PENN NATIONAL Wyomissing, Pennsylvania
Retired Penn National CEO Timothy Wilmott always challenged himself during his 32 years working for powerhouse companies Penn and Harrah’s. During those years, he witnessed an explosion of gaming opportunities far beyond only Nevada and New Jersey. Today, more than 40 states offer some type of casino gaming. Wilmott’s retirement announcement surprised most industry members. Ever resourceful, he left on December 31, 2019 and immediately transferred the job to Penn President/COO Jay Snowden, an employee since 2011. Wilmott’s executive leadership skills were honed during fi rst-rate University of Pennsylvania Wharton School business education. He joined Harrah’s in Atlantic City in 1987. While working for former Harrah’s Chairman/CEO Phil Satre, Wilmott advanced to Eastern Division President in 1997 and COO in 2003. Wilmott joined Penn National in early 2008. During his tenure, Penn expanded from 15 casino operations to 41 in 19 states and now employs 33,000. This growth included paying $2.8 billion for Pinnacle Entertainment, Inc. in October 2018. The purchase added 16 casino properties, a Texas horse track and off-track betting across the Midwest, South and West, while expanding its national footprint. “My knowledge from Harrah’s helped me
streamline Penn’s effi ciency,” says Wilmott He has often criticized government bureaucrats without real-life business experience. Wilmott believes they often hurt commerce, not help it,
40 MARCH 2020
encompasses small locations, equipment and peripheral suppliers, large commercial and tribal operations, plus mobile and online providers. When including outside affiliated groups, the total industry is worth $261 billion and supports 1.8 million jobs nationwide. Casino International profiled four executives who shared many common
“Those looking for career advancement should
thoroughly learn the business to understand how every
department works together.”
because businesses leave or never invest. Wilmott has held strong opinions about the
rights and wrongs of gaming states’ different taxing/regulatory programs. He urged all executives to explore numerous alternative investment and operating options nationwide. Wilmott played “hardball” with jurisdictions that used gaming as a perpetual “cash cow”. Despite its Pennsylvania headquarters, Wilmott determined the state’s punitive business environment was enough motivation to invest in out-of-state operations and properties. In January 2018, Wilmott agreed to chair the American Gaming Association (AGA) board. Wilmott helped AGA CEO/President Bill Miller transition into his new role in January 2019 and
The ever-evolving American casino gaming industry refl ects how contemporary issues demand a strong leadership focus. Today’s casino CEOs must be more forward thinking and proactive than their predecessors. Sharon Harris explores…
philosophies despite their diverse operations and experiences. These included Tim Wilmott, former Penn National CEO and Harrah’s executive, Terry Glebocki, CEO of Ocean Casino Resort, Rodney Ferguson, CEO/General Manager of Potawatomi Hotel & Casino and Elaine Hodgson, President/CEO of Incredible Technologies.
they held weekly phone calls until Wilmott resigned in November 2019. Miller admires Wilmott, saying, “There are a lot of
heavy risk takers in this industry, massive disrupters, and larger than life characters. Tim is a pragmatic, serious-minded individual who, as a corporate guy, always seems to have the highest and best use of capital in mind and how it (can) benefi t shareholders.” So, why did this respected, accomplished CEO
retire at 61? Simple…Wilmott promised his wife he would retire once their daughter grew up and left home. His faith in Snowden, his colleague for years, was a bonus. Now refl ecting on his own career path, Wilmott
offers solid advice for ambitious young people. Although the workplace and society have changed, competition for talent remains fi erce. He says, “Those looking for career advancement
should thoroughly learn the business to understand how every department works together. Also, take new opportunities because no job is too menial if it means gaining more experience. Finally, no matter the work environment, young employees should expect high standards and not tolerate mediocrity.” Wilmott’s professional accomplishments will be
recognized with a Lifetime Achievement Award at the 2020 Annual East Coast Gaming Congress (ECGC) in April. He is only the third recipient in the conference’s 24-year history. Congress co-founders Lloyd D. Levenson and Michael Pollock jointly congratulated Wilmott for building Penn as he developed trust with regulators, his staff and within Penn’s operating communities. Wilmott says the ECGC is the “best conference the industry has.”
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