Aristocrat Execs' Live the High Life

15 December 2003

AUSTRALIA – As reported by the (Australia) Age: "Senior executives of Aristocrat Leisure are used to living life in the fast lane at company expense, Allison Jackson writes.

"Just a few weeks after reporting a $32.9 million (US$24.4 million) first-half loss in August, poker machine maker Aristocrat's acting chief executive David Creary and a coterie of senior executives and directors flew to Las Vegas and checked into one of the world's most expensive casino complexes, the Bellagio.

"After a tumultuous six months, in which the company's share price tumbled more than 60 per cent, wiping more than $1 billion off its value, Creary and his colleagues left their worries on the tarmac at Sydney's airport and kicked up their heels, five-star style, in the casino capital of the world.

"Aristocrat's senior executives and directors have a history of spending company money on generous salaries for themselves, expensive houses and lavish furnishings.

"The former chief executive, Des Randall, who was sacked in April after a $28.8 million (US$24.4 million) profit downgrade, divided his time between the company's $4.1 million house in Balmoral and a house next to a golf course in the Anthem Country Club development, an exclusive suburb of Las Vegas and home to Hollywood actors and music stars, which he bought courtesy of a $2.6 million (US$1.9 million) interest-only loan from Aristocrat.

"…Against this backdrop of corporate extravagance, Aristocrat's chief operating officer David Creary, 55, is alleged to have carried out more than $22,500 in improvements to two of his houses on Sydney's northern beaches. The costs were invoiced back to the company.

"…David Creary is no stranger to controversy. He found himself in hot water last year when he was grilled over evidence he gave in an alleged $70,000 fraud.

"…Former colleagues described Creary as a talented salesman who knew how to `cut a deal'…"


Related Links

Featured Vendors
DFI
RSA Executive Search
DFI
The latest industry tech in slot and VLT motherboards, embedded systems, industrial panels
RSA Executive Search
A Boutique Search firm specializing in the Recruitment of Hospitality and Gaming Entrepreneurs
Casino Network
Slot Machines Unlimited
Casino Network
20+ years experience selling refurbished slot machines, parts & glass for all major brands
Slot Machines Unlimited
Exporter of IGT, Williams, AVP, Trimline, Aristocrat, Konami, Bally, & parts over 20 yrs experience
Bar Maid Corporation
Broadband Hospitality
Bar Maid Corporation
Clean and dry thousands of chips, dice and tiles per hour with the high-speed CHIP CHAMPION machine!
Broadband Hospitality
Improve these critical guest-facing amenities: In-room TV, Wi-Fi, Mobile App. Priced right. All here
TOP ONE TECH LIMITED
TribalHub
TOP ONE TECH LIMITED
GLOBAL TOUCH SOLUTION PARTNER OF CHOICE,10+ years OEM manufacturing,100+ thousand units application
TribalHub
22nd Annual TribalNet Conference & Tradeshow Nov 8-11, 2021 Gaylord Texan Resort, Grapevine TX
Rymax Marketing Services, Inc.
Betson Imperial Parts & Service
Rymax Marketing Services, Inc.
Leader in creating award winning player & employee loyalty programs & events proven to increase ROI
Betson Imperial Parts & Service
Your one stop shop for all your gaming and OEM needs!
Casino City Press
Gaming Tickets, Inc.
Casino City Press
A leading publisher and distributor of casino and gaming business data and market research reports.
Gaming Tickets, Inc.
35 years in the gaming industry - premium quality slot tickets, lottery tickets on time under budget


Your Guide to 15,447 Gaming Industry Suppliers