Being a public figure means greater scrutiny, where a single incident can damage or benefit a lifetime of work. In the U.S., the number-one evening television news anchor recently received a six-month suspension for repeatedly embellishing his reports of events he covered during his career. All on tape, his return is doubtful since his credibility is so compromised. Despite years of solid reporting, his legacy will include this episode. Speaking of legacies, what about our own gaming luminaries? Caesars Entertainment CEO/President Gary Loveman recently announced his planned exit on June 30. The former Harvard Business School professor joined Harrah’s Entertainment, Caesars’ predecessor company until 2010, in 1998. He replaced then CEO Phil Satre in 2003. Legendary operator/founder Bill Harrah opened his first Reno, Nevada bingo parlor in October 1937. Decades later, hundreds of millions worldwide recognize the familiar Harrah’s logo. Loveman, known as “The Experimenter,” revolutionized casino loyalty promotions with his “Total Rewards,“ program. Often imitated by competitors, Loveman’s genius with numbers and analytics redefined the calculation of a customer’s “value.“ However, he also leaves behind a financially-troubled company trying to reduce billions in debt from overexpansion, competition and a poor economy. What will be Loveman’s legacy? Despite his achievements, many never viewed the efficient Loveman as people-oriented. After Loveman closed Atlantic City’s profitable Showboat last August, one longtime employee accused him of being an “aloof, numbers-obsessed” executive who “didn’t truly grasp the human aspect” of gaming and its people. The employee said, “To us, it didn’t seem like he had a seat-of-the-pants feel for the business. It was all analytics and pie charts.” After hearing Loveman speak many times, I found him to be smart and entertaining, but not that approachable. Legacies also arise when a relatively unknown individual has great impact. Although not a household name outside, or maybe even within, Nevada, the late Bob Faiss was among the world’s most prominent gaming lawyers. He helped create Nevada’s gaming laws. Bob was also my friend and one of the great gentleman of our time. In August 2000, I met Bob and his wife Linda when they took me to lunch in Reno, Nevada during an interview. He gave me a signed copy of his Nevada gaming law book, which I still have. Bob also became a mentor and appreciated resume reference. We had breakfast at G2E every year – until he fell ill three years ago – despite constant demands on his schedule. Besides his obvious legal skills, Bob’s quiet charm made everyone feel important. Bob always thanked me for my time. Was he kidding? I was honored to learn so much from our conversations, often receiving professional advice and objective analysis on American gaming issues. His mother Theresa, 97, died in 2012; his father Wilbur, 102, died in 2013. I expected Bob’s genetics to carry him through old age, but he died last spring at 79. The gaming world and his family/friends lost one of its best, but his legacy of providing solid legislation and common sense regulation lives on. In Washington, where would the American Gaming Association be without the tireless work of former CEO Frank Fahrenkopf Jr.? From a “seed” of an idea in 1995, Frank helped create a trade association now ranked among Washington’s most powerful and influential. His successor, Geoff Freeman, is off to a great start in continuing that legacy. But, there can also be mixed legacies, where an asterisk will always accompany the accomplishments. Just look at high-profile politicians, celebrities and business executives. One example is the late MGM CEO Terry Lanni, who in his 13 years as its leader took a one-property Las Vegas company to a multi-billion dollar corporation of 17 worldwide resorts. He presided over MGM’s mergers with Mirage (2000) and Mandalay Resort Group (2005). We spoke at length after Hurricane Katrina in 2005, when he detailed the devastation at MGM’s Beau Rivage in Biloxi, Mississippi. I learned great information and heard his compassion for the employees. However, Lanni retired in 2008 amid controversy from alleged discrepancies in his company biography. Claims of his educational degree proved incorrect. Sadly, he soon became very ill and died in 2011. But, we still witness his legacy by just driving down the Las Vegas Strip. When I retire someday, I hope to leave a legacy of professionalism and integrity in my work and relationships. Excluding your family, who technically should care for and respect you, no one else has to. It is a bonus when they do. I’ll keep my fingers crossed and hope for the best.
