Jay Fennel is starting over at age 42.
After 23 years developing a casino career that started at the front desk of the now-imploded Westward Ho and led to a corporate management job at Station Casinos, Fennel finds himself chief operating officer of Club Fortune Casino, a small casino in Henderson.
"They were looking for someone to come from the outside that had a different view on gaming," he said. "Someone who knew the locals market and was ready to take Club Fortune and whatever else we do to that next level. I decided to come in and take on that challenge."
Fennel is also managing director of Silver State Capital Advisors, an investment group formed by Club Fortune's owner to look for investment and management opportunities in the financially depressed casino industry.
Fennel, the son of an anesthesiologist, moved to Las Vegas from New Orleans when he was a year old so his mother could get relief from her asthma.
Question: What attracted you to Club Fortune Casino?
Answer: When I cut loose from Station Casinos, I was very happy about the opportunities that were out there. I had to sit out for six months so I went out and did some consulting all over the countryside. Out in the Midwest, East Coast, areas like that. It really opened my eyes. There is a lot to be done out there. A mutual contact put me in touch with (property owner) Carl (Giudici). I knew Club Fortune because I did some of the due diligence on the property when Station was trying to buy it. Over a couple of months I came out here and met with Carl on several occasions and saw what his vision was, where he'd been, where he's going and what he wanted to do in the long term.
Question: What is the long-term plan for Club Fortune Casino?
Answer: We've formed a management company, Silver State Capital Advisors. We're out looking to work with banks and hedge funds to fund us and take advantage of some of the distressed opportunities right now. We've put together a group of individuals above and beyond myself. Carl is bankrolling us for the legal and travel. We have some tremendous interest and we have some targets lined up.
Question: How important is it for you to balance family and career?
Answer: I'm big on family time. It is important when I get home to put the CrackBerry down, unwind and enjoy the simpler things out there. I enjoy traveling with my family, going to the beach. Family time is very important to me in the quality of life and that was one of the things here that was going to be important to me on my next journey.
Question: How did you enter the casino business?
Answer: I grew up with the Peterson family that owned the Westward Ho. Dean Peterson, the owner of the Westward Ho, was an early mentor and second father to me. His son Michael is still one of my good friends. The day I turned 18 I started at the Westward Ho at the front desk. In the '80s the Westward Ho was one of the most profitable (cash) houses on the Strip. People fail to remember that. They think of the Westward Ho and they think of that giant hot dog. In the '80s, the place was paid for and they had a strong (cash) business.
Question: What was your career path at the Westward Ho?
Answer: I started at the front desk, worked there for a few years. The day I turned 21 I was out there on that slot floor learning. That was still when we had coin games and we didn't have automated slot accounting systems. You had to know what the payouts on the game were. You had to know what was going on. And it was customer service. You had fill bags and jackpot paper and cash around each knuckle and a couple of fills and you'd take off running.
Question: Why did you leave Westward Ho?
Answer: I realized I'd reached my potential and no one above me was going anywhere. I thanked the Petersons for the opportunity, but I wanted to go out and see what else there was for me. I took a shot and applied for the Hard Rock Hotel. I applied for the opening staff. I interviewed with (general manager) Steve Cavallaro, a completely blind interview. It must have worked out because they hired me and they put me on as the swing shift manager on the slot operations. I worked with (future Station Casinos executive) Dan Roy. Both Roy and Cavallaro are still mentors of mine today. I was promoted to director of slot operations in 1996.
Question: How did you move from the Hard Rock to Station Casinos?
Answer: (Casino executive) Don Marrandino reached out to me at Sunset Station. I'd been at the Hard Rock going on six years and I was getting complacent. It was time to move on. That was the early days of Sunset when it was the cream-of-the-crop property for Station. That was the property that all things were measured against. It had been open about a year and a half and Don was looking for a slot director. So I went over and apparently did some things right and before I knew it I found myself being shipped around to different properties as the slot director. Whatever I did, (former company Chief Operating Officer) Blake Sartini, (Chairman and CEO) Frank (Fertitta) and (Vice Chairman) Lorenzo (Fertitta) seemed to be happy with it.
Question: Why did you leave Station Casinos?
Answer: I left the company about this time a year ago. There was a difference of opinion where the company was going with (new COO) Kevin (Kelley) being back. The company was going in a different direction and we all said, "Hey, let's part ways here." I am very thankful for that. I was there through the growth years, which was a tremendous experience. I have the utmost respect for Frank and Lorenzo. They've done a tremendous job from what their father passed on to them.
Contact reporter Arnold M. Knightly at aknightly@reviewjournal.com or 702-477-3893.