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| Merit Management Group executives have experience significantly improving operational results at casinos. Member of the Merit team have raised over $400 million
in two IPOs, secured and managed funding for projects in excess of $750 million and raised equity for several start-up casinos. Empress Casinos is one such case
and tells the story of how Merit Management Group was formed.
In 1997 Empress operated two casinos in the Chicago Market. Annual net revenue was approximately $369.6 million. Annual EBITDA averaged approximately $83.5 million
or a 22.6% margin. Sold, but not outstanding returns.
The ownership of Empress engaged Joe Canfora and a team of experienced casino managers to develop and implement a comprehensive strategy to address issues and
set the stage for long-term profitability. By identifying ways to reduce costs and increase gross revenues, we realized the goal of improved profit margins. We
also developed tools to identify trends that indicate slipping results. |
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