Full House hires former Barclays exec to board
US-based casino operator Full House Resorts has announced the appointment of Michael A. Hartmeier to its board of directors.
Hartmeier formerly worked as group head of lodging, gaming and leisure investment at banking company Barclays. Before this, he was employed by Lehman Brothers and Credit Suisse First Boston.
Hartmeier received a Master of Business Administration degree from Harvard Business School before beginning his career as an auditor at Price Waterhouse.
Commenting on the appointment, Daniel R. Lee, president and CEO of Full House, said: “We have appreciated Mike’s thoughtful advice on the capital markets for many years.
“His 25 years of investment banking experience and overall business knowledge will be valuable additions to our Company’s board of directors.”
Full House Resorts has struggled with the closure of its properties this year as a result of the COVID-19 pandemic. Despite this, for the third quarter 2020 Lee said the company had a “phenomenal” performance due to the reopening of casinos.
Revenue for the quarter totalled $42m, a drop of 5% year-on-year. Despite this, net income for the quarter rose to $7.7m, a large increase from the total of $900,000 generated in 2019.
Lee said several of the company’s properties had their best months in history within the quarter, even with COVID-19 restrictions in place.
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