Navegante Group Turns over Hooters' Casino Operations; Exits after Four Years of Steadily Increasing Revenues

LAS VEGAS, Oct. 11, 2016 /PRNewswire/ -- Navegante Group's planned exit as the licensed casino operator at Hooters Casino is happening after four years of successfully managing the casino operations.

Navegante Group, a long time hospitality specialist in casino development, management and strategic turnarounds, took over the management of Hooters' casino operations in March 2012 when a financial capital group took ownership of Hooters. A hotel management group friendly with the financial group was brought in to operate all of the non-gaming operations for the property, i.e. hotel, food and beverage, entertainment and retail. Navegante's management role was anticipated to be a six-month stewardship of the property's gaming operations until the capital group found a buyer, which they did in May 2015.

During their tenure, Navegante Group appointed a very well-known and respected gaming executive, Mark Sterbens, Sr., as the General Manager of all gaming operations. Navegante Group normalized the gaming operations, optimized the casino management and accounting systems and developed new casino marketing initiatives including launching a new tiered players club and direct marketing programs. Results guided Hooters to increasing casino revenues continuously year-over-year, even as Las Vegas Strip casinos endured significant decreases in the wake of the "Great Recession."

Navegante has positioned the gaming operations to be able to lease the casino operations out to a permanent casino operator. The new lessee will assume that role as Navegante Group leaves after more than four years of successfully managing the casino operations.

"Navegante Group is proud that its management of Hooters' casino operations helped position the casino for the new owners to find a long term lessee," said Larry D. Woolf, Navegante' s CEO. "We took over under difficult circumstances, ensured continuity and implemented improvements on the casino floor while maintaining high employee morale and engagement. We look forward to monitoring Hooters' continued success."

About Navegante Group
Navegante Group, founded in 1995, is a Las Vegas-based full-service gaming company with over 20 years of corporate experience and over 100 years of combined executive experience. Navegante founder Larry J. Woolf was inducted into the American Gaming Association Hall of Fame for his years of work and contributions to the gaming industry.

Navegante Group owns and operates casinos and provides targeted consulting, property development and management services to clients worldwide. Navegante has partnered with over 70 Owners/Operators/Managers in every facet of gaming operations. For more information on Navegante please visit www.navegantegroup.com.

SOURCE Navegante Group