In a significant development in the Nevada gaming industry, George Markantonis has assumed a pivotal role by joining the Nevada Gaming Commission (NGC). Appointed by Governor Joe Lombardo, Markantonis is stepping into the shoes of outgoing commissioner Steve Cohen, marking a transition that promises to bring fresh perspectives and industry expertise to this regulatory body.
George Markantonis: A Seasoned Gaming Executive:
George Markantonis brings an impressive track record in the gaming industry to his new role. With seven years of experience as the CEO of The Venetian, his tenure continued even after the property’s sale to Apollo Global Management and VCI Properties. Following the sale, he assumed the role of special advisor to the Apollo board, demonstrating his enduring commitment to the sector. Markantonis also boasts a rich history of 17 years with Westin Hotel Resorts, having worked in South Africa, Canada, and the United States.
Markantonis Joins the Nevada Gaming Commission:
With his appointment, George Markantonis becomes the second former gaming executive to serve on the Nevada Gaming Commission, following Michonne Ascuaga’s appointment in 2015. Governor Lombardo praised Markantonis’s international and multi-jurisdictional gaming experience, expressing confidence in his contributions to the state’s gaming oversight. In Lombardo’s words, “I know that George’s proven leadership, outstanding character, and decades of experience will be a tremendous asset on the Nevada Gaming Commission.”
Markantonis’s Vision for the Nevada Gaming Commission:
George Markantonis expressed his commitment to the mission of the Nevada Gaming Commission, saying, “I look forward to utilizing my industry experiences to serve the commission in its work protecting the integrity of Nevada’s gaming industry and the interests of all the Nevadans who rely on its ongoing success for their livelihoods.”
Recent Appointments and Nevada Gaming Revenue:
In 2022, Nevada saw notable appointments to the Nevada Gaming Commission, including Nevada senator Ben Kieckhefer and former judge Jennifer Togliatti. These appointments filled vacant positions on the five-member NGC, following the resignations of Deborah Fuetsch and John Moran Jr. Commission members serve four-year terms in a part-time capacity, playing a crucial role in regulating the state’s gaming industry.
In terms of gaming revenue, the Nevada Gaming Control Board (NGCB) reported that the state’s casinos generated $1.31 billion in March. This represented a slight decrease of 3.1% year-on-year. The Las Vegas Strip accounted for $724.5 million of this revenue, experiencing a 2.9% decline from the previous year. Clark County, encompassing various areas including the Strip, downtown Las Vegas, and more, generated $1.1 billion, marking a 2.4% decrease. Washoe County, which includes casinos in Reno, Sparks, and North Lake Tahoe, saw a 6.1% year-on-year drop in revenue.
The appointment of George Markantonis to the Nevada Gaming Commission marks the beginning of a new era in the state’s gaming regulation. With his extensive industry experience and commitment to preserving the integrity of Nevada’s gaming industry, Markantonis is poised to contribute significantly to the commission’s mission. Alongside recent appointments and the latest gaming revenue figures, the Nevada gaming landscape continues to evolve, reflecting the dynamic nature of the industry in this iconic gaming destination.