Mr. Murphy began working in the hotel and casino industry in 1987 when he joined the MGM Grand, Inc. as Chief Financial Officer. Prior to that time, he was Senior Vice President and Chief Financial Officer for Transamerica Airlines where he served in a number of financial and operational positions for more than 18 years.

At MGM Grand Inc. he was responsible for Financing, Accounting, SEC Reporting, Financial Analysis, Taxes, Insurance and Administration. His assignments included the accounting and financial startup work for the opening of four hotel/casinos including the financial controls for the construction of the MGM Grand Hotel & Casino with a project cost of $1 billion. He was also responsible for the financial and related matters for the company’s first public stock offering and its listing on the New York Stock Exchange. He negotiated credit lines and lease financing of more than $300 million for the company and its subsidiaries; and was a member of the team that obtained $530 million in public bond and bank financing which was utilized to build the MGM Grand Hotel & Casino.

In 1994, he became Senior Vice President and Chief Financial Officer for MGM Grand Hotel & Casino in charge of Finance and Accounting, Business Planning, Financial Analysis, Casino Cage and Credit, Collections, Pit Clerk Operations, Food & Beverage Control, Purchasing, Receiving, and Warehousing.

In this position, he was responsible for a staff of over 500 employees. He was a member of the management team that initiated a company-wide campaign to reduce the cost of labor, materials and services resulting in an annual savings of $24 million. He retired from MGM Grand in late 1995 and joined the Navegante Group.

Since that time he engaged in startups and related projects including hotel and casino properties in Australia and Canada. At the MGM Grand Hotel in Darwin, Northern Territory, Australia, a newly acquired property, his assignments included the evaluation of internal control policies, financial reporting, placement of insurance and project controls for construction and refurbishment programs.

At Casino Niagara, Mr. Murphy was responsible for pre-opening planning, recruitment and staffing for all of the financial and related functions including purchasing, MIS systems, internal controls, gaming regulations, and financial controllership. After opening, he served as Project Manager in the development of a Customer Service Quality Management System including service standards, scheduling, reporting and training.

Navegante was contracted by the Ogden Corporation to conduct a comprehensive operational assessment of the Iguazu Grand Hotel Resort & Casino.  The assessment, including a 13 day on site visit during October - November 99 focused on business strategy, casino credit, marketing, casino operations, security and surveillance, internal controls, hotel, food and beverage, finance and administration.  

Mr. Murphy lead the Navegante team made up of Navegante Executives and Consultants to conduct the assessment for the Ogden Corporation.  The assessment was accepted and Navegante's recommendations are currently being implemented.

 

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