David B. Zerfing

**** ***** **** **** *** **** 267-***-****

Gwynedd Valley, PA 19437 adwk2s@r.postjobfree.com

Summary

Financial Executive / CPA with over 20 years of experience in the Gaming and Hospitality industries. Collaborates effectively with CEOs and senior management to maximize profitability. Able to manage complex capital projects as well as systems / process improvement initiatives. Background includes multi-site management as well as small, stand-alone enterprises. Demonstrated track record of instituting financial best practices and key metrics reporting. Extensive negotiation expertise, with particular focus on entertainment professionals and high end restaurants.

Professional Experience

Valley Forge Casino Resort, King of Prussia, PA 2016 – 2021

VP of Finance/CFO promoted to GM August 2018

Hired to insert the Finance Division in all operational and marketing decisions

Set up process to properly evaluate casino events, marketing promotions and customer profitability

Led effort to revamp customer reward program and reinvestment strategy

Drove 30% increase in EBITDA through marketing initiatives and efficiencies.

Truckee Investment and Bainbridge Capital, Reno,NV & La Jolla,CA 2013 – 2015

Acquisition Consultant

Engaged to lead due diligence and negotiation process for casino hotel acquisition.

Established panel of advisors to manage acquisition strategy, including Risk Management, Legal, Facility, Environmental, and Financial. Developed list of documents and information required to be provided by “Seller” and gathered by “Purchaser”. Led review and analysis process of that information.

Recommended lowering proposed purchase price based upon due diligence analysis and developed strategy to acquire assets at that price. Insightfully identified other properties owned by “Seller” that were not being strategically held and developed strategy to have at least one added to purchase in LOI (Letter of Intent).

Oversaw development of booklet for prospective investors.

ARAMARK, Philadelphia, PA 2007 – 2013

CFO, Parks & Destinations Division

Hired for newly-created role to provide strategic and operational finance leadership to struggling division with 16 parks, 15 hotels, 10 conference centers, and 22 cultural attractions. Assembled / built team of seven Directors (Planning, Reporting, Accounting, and four Regional leads).

Led operational excellence / efficiency efforts that increased EBIT 50% across portfolio while revenue declined from $280M in ’08 to $230M in ’09 (now $350M). Established standards & tracking that reduced labor expenses by 15%. Clarified fluctuating needs; implemented variable schedules and service offerings based on demand.

Developed investment strategy that aligned business development with corporate objectives and standards. Used business fit / profitability criteria to select 60 targets; led 25 new business evaluations, with 50% win rate.

Implemented budgeting, forecasting, and revenue management best practices. Created infrastructure / dashboard to give senior management greater visibility into business operations. Enabled better decision-making as well as proactive strategic marketing interventions to address / reverse anticipated downturns in revenue.

Led development and implementation of strategic planning process; developed key metrics reporting, annual business plan, and objectives. Drove adoption of business fundamentals such as brand positioning, automated revenue management, driving ancillary revenue, auditing, and process improvement.

New Frontier, Las Vegas, NV 2005 – 2007

Chief Financial Officer

Developed financial model for $1.9B Montreux Project (2,750 rooms, 500k sq.ft retail, 90k sq.ft. gaming, and London Eye) for project . Assisted in project development and ensured SOX compliance.

Recruited to assist with project’s investment strategy after eight years of inability to generate Wall Street interest. Successfully re-approached investment banks and engaged additional prospective investors.

Secured four commitment letters for $2B before project was cancelled due to cost overruns.

Barrick Gaming Corp, Las Vegas, NV 2005

Chief Financial Officer

Consolidated financial functions of six operating hotel / casino entities and seven corporate companies. Ensured compliance with gaming regulations. Assisted Merrill Lynch in Private Placement Process.

Set up consolidated financial statements and monthly reporting. Developed procedures for Cash Management.

Orchestrated mutually beneficial buy out between two hostile partners.

Caesar’s Entertainment (acquired by Park Place Entertainment (PPE) in 2000), Las Vegas, NV 1996 – 2005

Executive Vice President, Finance & Casino Marketing, Bally’s / Paris Las Vegas (2003 – 2005)

Asked to assume financial leadership for all casino marketing areas after excessive spending levels drove casino department losses for three consecutive years. Provided accounting & reporting for 6K-employee complex (5,700 rooms, 20 restaurants / bars, 15 retail stores, and two theaters) as well as a leased mall space with external retail.

Increased table profit by over $30M in first year by restructuring casino marketing player comp, modified event criteria, and reorganized departmental labor.

Retargeted marketing efforts toward segments that were aligned with complex’s product offerings (e.g., suite size, restaurants). Increased profit per customer by refocusing on mid-level domestic casino customers and exiting “high end” (over $1M) international casino customer markets.

Developed host station that greeted and served all casino customers when their primary host was unavailable.

Executive Vice President, Finance & Administration, Bally’s / Paris Las Vegas – (PPE) (1998 – 2003)

Promoted to newly-created position to provide financial oversight and leadership to existing Bally’s Las Vegas operating property, Paris Las Vegas construction, pre-opening project, and post opening operations.

Championed innovative strategy to consolidate operation, management, and reporting for both properties as single business entity. Transformed how management conceptualized both staff and customers, which led to cost efficiencies, increased employee morale, and improved risk management.

Developed critical paths for financial aspects of pre-opening plan, all departmental budgets (pre- and post opening), and ongoing business plans. Managed > $100m in construction projects, all within budget, by implementing capital projects review process that proactively managed / approved funding for all capital projects.

Implemented labor controls / standards for all departments reducing complex labor by $20m after Paris Las Vegas opening.

Increased profit > 30% for struggling retail division by implementing retail sales analysis and inventory controls.

Streamlined purchasing cycle and eliminated missed purchases due to lost paperwork by implementing Corporation’s first paperless purchasing system; achieved cost efficiencies and accuracy results that were subsequently applied to other properties.

Vice President Finance, Western Region, Hilton Gaming (divested by Hilton as PPE) (1997 – 1998)

Transferred and promoted to provide oversight and insight into operations for Hilton Gaming’s western region. (Consisting of nine properties with $1.5B in revenue), post-acquisition of Bally’s by Hilton.

Led effort to develop best practices and oversee implementation into western region properties

Analyzed financial performance of 11 properties and assisted in development of business and operating plans.

Assistant General Manager & VP Finance, Bally’s Saloon and Gambling Hall – Hilton Gaming (1996 – 1997)

Recruited to address errors and gaps in accounting records (for joint venture and Bally’s contributing partner entities) and provide operational leadership and support to GM and management team.

Revamped financial accounting control processes, resulting in a timely and accurate month end close process. Reconciled balance sheet accounts and developed accurate monthly financial statements.

Ensured preparation of timely and accurate quarterly audited financial statements for SEC and Mississippi Gaming Commission quarterly reports.

Within six months, corrected nine month backlog of historical errors in financial statements. Instituted checks and balances along with operational practices to ensure ongoing accuracy of financial recordkeeping and reporting.

Early Career

Held progressively responsible operations and financial roles (Assistant GM, Finance Director, Operations Controller, Financial Analyst, Revenue Audit, and Accountant) in hospitality organizations such as President Casino, Merv Griffin’s Resorts, Trump Plaza, Harrah’s Marina Hotel Casino).

Education & Licensure

BA, Accounting, Moravian College, Bethlehem, PA

CPA

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