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LAS VEGAS-Former Torguson Gaming Group president Bob Kocienski will be responsible for financial oversight, reporting and budgeting for Cosmopolitan, the $2-billion, center-Strip mega resort, casino and condo development set to open in 2009. Kocienski was hired by Ian Bruce Eichner, chief executive of the development entity, 3700 Associates LLC.
Kocienski could not be reached for comment. Eichner says he chose Kocienski for the CFO position because of his "tremendous financial experience" and "keen strategic insight" in the sectors of gaming, tourism and project development. In May, Eichner named Marc H. Rubinstein as general counsel. Rubenstein was previously general counsel for Wynn Resorts Ltd.
Cosmopolitan will have 3,000 hotel and condominium units, 300,000 sf of retail, a 75,000-sf casino, an 1,800-seat theater, 150,000 sf of meeting space, multiple night clubs, a five-acre "beach club" and a 3,800-space underground parking garage. In total, there will be four million sf of development.
Kocienski most recently served as president and CFO of Torguson Gaming Group Inc. Prior to that, he held senior management positions at MGM MIRAGE, Mirage Resorts, Penn National Gaming, Hilton Nevada Corp. and the Las Vegas Hilton. He also has served in the New Jersey Division of Gaming Enforcement, is a former trustee for the Culinary Union 401(k) Trust, and is a past member of the Advisory Board of the Southern Nevada Academy of Finance.
Eichner is a well-known developer in Miami and New York. Eichner most recently opened the Continuum on South Beach, a luxury condominium project in Miami. Eichner's partner in 3700 Associates is gaming developer David Friedman, who helped finance and develop the Venetian.
The money partner is an affiliate of Dune Capital Management LP, which is controlled by Steven Mnuchin, the former CEO of SFM Capital Management LP, a Soros Fund Management LLC affiliate and investment advisor to Soros Credit and SFM Capital. Dune provided the majority of the capital to, and is the managing member of, 3700 Associates LLC.
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