Founded in 2001 by former partners and senior consultants of major consulting firms such as KPMG Peat Marwick, PricewaterhouseCoopers, Deloitte & Touche and Bearing Point, WhiteSand Consulting has always had an emphasis on the gaming and hospitality industries. Scheri says the company has played key roles in the opening of new casino hotels and casino racetracks in Atlantic City, Las Vegas, California, Iowa, Indiana, Louisiana and Australia. It also puts on the annual Gaming Technology Summit in Las Vegas.
"It's something we have been building up to for the past three years," Scheri says. "We've done a some management work and some M&A work and have actually chased a couple of acquisitions. Now we want to do it in a more formal way with a fee-based structure that includes short-term options, which we think works out a lot better for clients."
In the partnership scenario, Scheri says it might be with a branded gaming company or others who are entering the market. "They would bring the name recognition and the bulk of the financing and we would bring the gaming management expertise," he says.
Scheri says the company is currently pursuing opportunities in North America, Asia, and Africa. Most recently, as WhiteSand Consulting, the principals of WhiteSand Gaming provided outsourced management services to Morongo Casino Resort & Spa, a Native American casino near Palm Springs, CA that is now one of the more profitable casinos in the country. WhiteSand provided temporary management services for seven months, running all aspects of the operation in preparation for a major expansion of the AAA 4-diamond rated resort.
"Our novel approach to casino management allows us to introduce a full team to assist with Marketing, IT, HR, Finance, Casino Operations and General Management for as little as three months or as long as needed," Scheri says. "Because WhiteSand Gaming approaches these opportunities as fee-based, there is no need for a long-term management contract that typically is funded through top-line revenues."
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