Page 11 - aruba-today-20200923

A11
BUSINESS Wednesday 23 september 2020
Atlantic City is leading a wave of female casino leaders

By WAYNE PARRY dustry. Many who worked
Associated Press their way up from dealers
ATLANTIC CITY, N.J. (AP) — into supervisory roles went
For decades, women have on to higher-level careers
dealt cards or served drinks elsewhere in the country as
in casinos, but they rarely gambling spread.
got the chance to run the "I can think of at least a
joint. dozen women trained in
But women now run four of Atlantic City who went on
Atlantic City's nine casinos to lead very significant ca-
in what some industry ex- reers in the industry, people
ecutives and observers say who held the highest posi-
could be the future of the tions across the U.S.," said
gambling industry. McDowell, who served as
Caesars Entertainment executive vice president
hired Jacqueline Grace of the Trump casinos in
last week to run the Tropi- Atlantic City, and CEO of
cana casino as its senior Missouri-based Isle of Capri
vice president and general casinos.
manager. She is one of two Six years ago, six of Iowa's
Black women in charge of 19 casinos were led by
casinos in Atlantic City, join- women, a figure that has
ing Melonie Johnson, who since declined to five, ac-
took over leadership of the cording to Wes Ehrecke,
Borgata this year as its pres- president of the Iowa Gam-
ident. The four women who run Atlantic City casinos pose for photos on the Atlantic City N.J. Boardwalk ing Association.
on Sept. 21, 2020: From left, to right they are: Jacqueline Grace of Tropicana; Terry Glebocki of
The other women at the Ocean Casino Resort; Karie Hall of Bally's, and Melonie Johnson of Borgata. "I don't think it's a coinci-
helm of Atlantic City ca- Associated Press dence" that nearly half of
sinos are Terry Glebocki, Atlantic City's casinos are
CEO of the Ocean Casino were hard-pressed to think Nevada. Women didn't third and fourth person in run by women, said the
Resort, and Karie Hall, se- of another market with a deal in Las Vegas until the the line," said Nutton, who Atlantic City Tropicana's
nior vice president and higher percentage of fe- 1970s, giving them far few- eventually became a se- Grace, who spent 10 years
general manager of Bally's. male-led casinos. er chances." nior vice president at the in finance before entering
"I hope I live to see the day All agreed it is far less than Debra Nutton was one of Wynn and MGM casino the gambling industry. "I
where this is not considered the number of men who the first craps dealers in companies before retiring. think it's corporations being
news," Johnson said. "I think hold those jobs, with sever- Las Vegas, which so irked "When women have a seat thoughtful about a work-
the world is starting to catch al placing it at about 10%. one of her male bosses at at the table and can say of force that looks like their
up, but it's probably going "I think it speaks to the rapid the Sands that he referred a candidate: 'I know her, communities."
to be another 10 years be- changes in the gaming in- to her in front of others as she's fantastic!' the more Hall, the Bally's general
fore we get all the inequity dustry, which was tradition- "that (expletive) broad." opportunities we will get." manager in Atlantic City,
out of the workforce." ally very male-oriented, She persevered and soon When New Jersey began said, "One of the things I'm
The American Gaming over the past few years," was promoted to manager legal casino gambling really passionate about is
Association, the national said David Schwartz, a of the dice pit, where a fe- in 1978, it opened up a what comes behind us —
trade group for the casino gambling historian with male boss was unheard of new world of possibilities what that pipeline looks
industry, does not keep sta- the University of Nevada, at the time. for women, said Virginia like, so that this is not just an
tistics on the number of U.S. Las Vegas. "Many of the "The more women that McDowell, vice president aberration, that it's not just
casinos run by women, but reasons for the male domi- get a seat at the table of Global Gaming Wom- us. "This is a progression,"
numerous casino execu- nation had to do with the and prove their value, the en, which advocates for she said. "We want to keep
tives and analysts said they way casinos were run in better it is for the second, women in the gambling in- it moving forward."q

Powell: Many small companies can

borrow without Main Street

By CHRISTOPHER RUGABER Monday by the Fed.
AP Economics Writer Still, that sum is far short of the $600 billion
WASHINGTON (AP) — Federal Reserve that the Fed had initially set aside for the
Chair Jerome Powell says that many mid- Main Street program. The Treasury Depart-
size U.S. businesses are now able to borrow ment and the Fed allocated $75 billion
from banks, suggesting that the need for from congressionally approved taxpayer
a Fed lending program that was designed funds to support the Main Street program;
to serve struggling medium-size compa- any losses up to that amount would be
nies has waned. covered by Treasury.
In remarks prepared for delivery Tuesday "Main Street loans may not be the right
to the House Financial Services Commit- solution for some businesses, in part be-
tee, Powell said there are 230 loans, ac- cause...these loans cannot be forgiven," In this June 30, 2020, file photo Federal Reserve Board Chairman
counting for a total of about $2 billion, that Powell said. "The evidence suggests that Jerome Powell, reflected in the sneeze guard set up between
have been provided or are in the pipeline most creditworthy small and medium- himself and members of the House Committee on Financial
Services, speaks during a hearing on oversight of the Treasury
under the Fed's Main Street Lending Pro- sized businesses can currently get loans Department and Federal Reserve pandemic response on
gram. Powell's testimony was released from private-sector financial institutions."q Capitol Hill in Washington.
Associated Press