The leading casino technology provider, delivering products to more than 60,000 casino gaming machines across the United States, Acres Technology, strengthened its senior-level team with the addition of David Bain, a Wall Street gaming industry expert with a track record in corporate finance. Joining the company, he was appointed to the role of chief financial officer (CFO).

In his new role at Acres, Bain is expected to oversee strategic financial processes. Leveraging his extensive experience and wide range of skills, he will play an important role in the growth of the company. Undoubtedly, an expert with the rank of Bain will quickly prove to be an important asset to Acres’ growing C-suite.

Sharing his excitement, the new CFO spoke about the company’s role in the casino industry. Bain pointed out that it is thrilling to join the company and help revolutionize the casino industry while at the same time growing the value for Acres’ stakeholders.

“Acres is again revolutionizing the casino industry and I’m excited to join the team to help grow value for all of our stakeholders. I have enormous respect for John’s vision, passion and execution that has led casino technology innovations for over 50 years.“

David Bain, CFO at Acres Technology

Bain Brings More than 25 Years of Experience to Acres

Currently, Bain holds a BA from UCLA, as well as an MBA from Pepperdine University. Additionally, he has a JD in Corporate Law from Loyola Law School. Overall, Bain’s career spans more than 25 years. His first career steps were as an entertainment attorney, but then he decided to enter the finance vertical.

The recently announced appointment by Acres comes after earlier this year, the company unveiled its interactive system, “ticket in, bonus out.” Back in August, the company confirmed that the groundbreaking system is expected to launch in the upcoming months.

“David can work anywhere he chooses and having someone of his caliber join our team as CFO is a powerful vote of confidence in our vision and our future.“

John Acres, founder and CEO of Acres Technology

John Acres, Acres’ founder and CEO, praised Bain’s extensive experience and acknowledged that he is an invaluable addition to the company’s team of experts. Last but not least, he pointed out: “David’s leadership will help us maximize profits for our customers, partners and stakeholders.”

Before joining Acres, Bain was most recently a part of B. Riley Securities. Throughout his extensive career, he held different senior-level roles, including managing director of corporate finance, as well as senior research analyst. Within the gaming sector, Bain engaged in research that probed the slot and gaming equipment supply vertical.

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The Las Vegas Convention and Visitors Authority (LVCVA) approved the sale of 10 acres of land on the Las Vegas Strip. The deal, which will see the entity sell the parcel to Brett Torino and Paul Kanavos for $12.5 million per acre, was unanimously approved by LVCVA’s directors.

The $125 million deal will see the land passed to the experienced real estate developers. The 10 acres have historic value for Las Vegas as they were once a part of the famous Riviera property.

The Riviera was a large casino resort that first opened in 1955. After decades in business, the resort and its associated land were acquired by the LVCVA in a $182.5 deal. The agency’s plan was to use the land to erect an expansion of the Las Vegas Global Business District.

In 2015, the LVCVA closed the Riviera and by 2016 it had wrapped up the demolition of the old casino resort. Now, it has secured the sale of an extra parcel of land it didn’t need for the expansion of the Las Vegas Global Business District.

Torino and Kanavos Might Revitalize the Northern Part of the Strip

Brett Torino and Paul Kanavos are seasoned developers with experience in developing Vegas properties. However, they didn’t reveal their plans for the 10 acres of former Riviera land. Still, Torino and Kanavos did say that they picked the location because of its attractive location. While they didn’t confirm anything outright, they implied that a hotel and/or an entertainment complex might be what the future of the plot hides.

The upcoming property might attract more pedestrians toward the northern end of the Strip. According to Steve Hill, the president and chief executive of the LVCVA, Torino and Kanavos’ project is certain to appeal to their neighbors.

The two businessmen have until September 11 to close the deal. If the sale is not completed within that time frame, the LVCVA plans to relist the parcel.

The Current Deal Comes in the Wake of a Failed Sale

This isn’t the first time that the LVCVA has tried to sell this 10-acre plot. Back in 2021, the company agreed to sell the land to Claudio Fischer, a Chilean billionaire. The mogul already owns several casinos in South America and might have resurrected the Riviera or at least the idea of it in some way. Fischer had agreed to buy the land in a $120 million deal but eventually backed out of it.

The billionaire cited the high interest rates as the reason for canceling the agreement.

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