Adam Rosenberg has been named the new CEO of slot machine developer GameCo.
Rosenberg replaces Blaine Graboyes, who left the company in February after the Nevada Gaming Commission denied his gaming license renewal.
“Adam brings the ideal combination of sector expertise, financial acumen, strategic vision and proven leadership at a truly exciting time for GameCo,” said Robert Montgomery, chairman of the company’s board of directors, Thursday in a statement.
Rosenberg has over 23 years of experience as a financial executive and investor with gaming and leisure companies. After 16 years at Goldman, Sachs & Co., where he was the Global Head of Gaming in the Investment Banking division, Rosenberg assumed the same title at Fortress Investment Group. Fortress-affiliated funds were used to finance GameCo’s growth starting in 2018 during Rosenberg’s tenure at the investment group.
Rosenberg thinks his experience with gaming technology will be an advantage as GameCo develops its next generation of games.
“The global demand for differentiated gaming experiences is set for unprecedented growth,” said Rosenberg in a statement, “and the company is ideally positioned to lead an exciting new category at the intersection of video games, online wagering, and esports.”
The Nevada Gaming Commission, by a 4-1 vote in February, denied Graboyes a one-year limited gaming license, which had been previously recommended by the Gaming Control Board. Gaming commissioners cited a nearly 300-page investigative report about two years Graboyes spent as the consultant/CEO of Ohio-based Beyond Gaming from 2012 to 2014. A former executive of Beyond Gaming accused Graboyes of engineering that company’s bankruptcy and using its intellectual property to start GameCo.
Graboyes told the Gaming Commission some of the information in the report was incomplete and took portions of emails and other internal documents out of context.
GameCo currently offers casinos five slot machine games that have a skill-based component where players can win additional jackpots. The company has 16 games currently in the field – four slot machines at Choctaw Durant Casino in Oklahoma and 12 in Nevada, divided between the Atlantis in Reno, and the Park MGM and MGM Grand in Las Vegas. GameCo employs 31 people, primarily at its Las Vegas headquarters.
