Mike Herrmann Email & Phone Number

Columbus, Ohio, Us

Atmore, Al, Us

 Implemented scheduling software that allowed WCH to better align labor to KPI’s in F&B, Player Services, Slots and various other transactional departments. Overall, resulted in improved customer services scores and over $1.3M in savings in the first year. Refined and implemented food and beverage offerings at one of our FL tracks that improved profitability by 35%. Assisted in designing and implementing a new host program that resulted in an average quarterly lift of 10.4% on players that were Net ADT $350+. Identified Hotel cash pricing opportunities and worked with an outside consultant to assist in implementing those changes that resulted in an increase of $1.8M or 33% in Cash and 4% lift in Theo RevPor. Evaluated Marketing Promotions, some of which impacted the Buffet; recommended a change that reduced Comp and Labor Expense and was a major factor in increasing Buffet cash basis profitability by $428K or 11%. Revamped DM program for the Reno property that increased net slot revenue by over 50% by reducing reinvestment and greater focus on geography.

Reno, Nevada, Us

 Responsible for performing and assisting in operational, marketing, and database analytics for three properties located in Louisiana, Mississippi and Florida. Review marketing analytics and discuss results, trends and strategy for Direct Mail, Promotions, Player Development and VIP Events. Work with Regional Sr. Director of Marketing in developing business plans for all three properties as well as provide insight for annual budgets. Provide feedback on Casino Operations regarding game mix, placement, hold adjustments and utilization. Collaborate with F&B leaders on hours of operations, menu mixes, PAR levels and purchasing opportunities. Continually assess all aspects of the properties to provide strategic recommendations in either enhancing revenues and/or controlling expenses.

Las Vegas, Nv, Us

 Built, oversaw, and mentored the Southern Regional Planning and Analysis team as they carried responsibility for building various Operational, Financial, Marketing and Ad-hoc Analysis for all the Pinnacle properties in the South. Lead the preparation of Weekly Forecasting as well as Quarterly Financial Reviews for the Corporate Executive Team. Responsible for building and monitoring the property budgets for of over $200M in EBITDA as well as led the Capital Expenditure Budget Process. Would participate in monthly financial reviews questioning and recommending financial opportunities. Introduced consistency and new analytics throughout the region on various reports/analysis such as the Daily Operating Report, various labor analyses, table games analysis, etc. Worked in collaboration with GM’s/Executives at five Pinnacle properties across the Southern Region to provide recommendations to ensure financial targets are obtained. Performed ROI’s\Cash Flow Analysis on multi-million dollar projects ranging from remodels to third part arrangements.

Lake Charles, La, Us

 Re-evaluated and maintained existing analysis and reports for value and effectiveness; revamped as needed. Spearheaded the Operating and Capital Budget process which involved gathering data, pulling together preliminary departmental budgets and review final revisions with department heads. Introduced a plethora of operational analysis such as Table and Slot utilization and Net Profit per Sq. Ft. Analysis. Conducted Cost versus Benefit analysis on Contract Labor resulting in over $400K in savings for the company. Built the host program for Lake Charles which was then implemented for other properties in the region. Supervised and mentored two analysts.

Lemoore, Us

 Created the annual Operational and Capital Budget, with the collaboration of Directors, by scheduling meetings and providing various analytical tools to help determine future revenues and expenses. Conducted monthly financial review meetings discussing variances from budget and prior year while providing recommendations. Would develop financial plans based on major variances and monitor those plans. Performed Return on Investment Analysis for departments on projects ranging from $15K up to $5M. Created new Table Games and Slot Analytics to aid game mix and utilization in an effort to maximize revenue. Introduced Labor Analysis which helped in reducing OT and fixed inefficiencies in the Cage and Slot departments. Re-tooled mechanics of the Marketing analysis and improved the Proforma’s for Entertainment, Player Development, and Database Marketing. Created new Database Analysis that more efficiently pinpointed offers going to customers to insure the right player was receiving correct offers.

New Orleans, La, Us

 Introduced various Table Games, Slot and Labor analysis for the New Orleans and Biloxi properties by determining inefficiencies and proposed potential opportunities to increase profitability. Created and interpreted Discounted Cash Flow Statements on various expansion/remodel projects which ranged from a capital cost of $1M up to $20M. Conducted meetings with department leaders from two properties in controlling expenses. Trained and provided assistance for other analysts in Operational, Labor, Financial, Direct Mail and Promotional analysis.

 Identified opportunities in payroll and worked with department heads to reduce FTE’s from 1,200 to 1,050 resulting in an estimated yearly savings of $3.1M. Assisted the Director of Finance in creating of the Operational Budget. Worked with the Executive Team in planning and outlining strategies to grow 5% in a declining market faced with expansion of Indian gaming, slots at tracks and increased local competition. Evaluated Direct Mail programs and provided recommendations that resulted in $300K in annual savings.

Hammond, In, Us

 Created the budget target for a property generating $360M in revenues by forecasting incremental revenue due to increased business levels, facility expansion, and increased competition. Created Cost/Benefit and ROI analyses for proposed expansion projects in excess of $30M.  Performed various competitive analyses that looked at market share, fair share and various moves from other competitors to formulate better and more effective strategies. Created and maintained various departmental profitability analyses.

Us

 Created, maintained and reviewed labor analyses with executives to help reduce expenses. Assisted in the budget process by preparing the budgeted Payroll & related expenses. Developed forecasts based on volume indicators to predict future business levels for operations. Assisted GL in monthly close process as well as handling credit card disputes.