Golden Entertainment announced executive changes on Monday. In a press release, the Las Vegas-based company unveiled the promotion of Blake Sartini II to the position of Chief Operating Officer (COO), effective March 20.
Sartini II, who previously served as the company’s Executive Vice President of Operations, brings a wealth of experience spanning nearly 17 years within Golden Entertainment. Notably, he played a key role in the expansion of the company’s Nevada portfolio, overseeing the growth of its taverns to 69 locations and managing operations at key casino resorts and locals properties.
“Blake has worked in every capacity throughout our organization since he started at Golden almost 17 years ago,” Blake Sartini, chairman and CEO of Golden, said. “His unique knowledge of our company’s culture, commitment to operational excellence, and strong leadership skills make him the ideal individual to be given responsibility for all our Nevada casino resorts, locals properties, tavern operations and related corporate functions.”
Meanwhile, Steve Arcana, the former COO, transitions to the newly created role of Chief Development Officer. With over two decades of experience at the company, Arcana has been instrumental in navigating its transformation from a privately held slot machine route operation to a publicly traded gaming entity.
Steve Arcana
In his new capacity, Arcana will spearhead strategic initiatives focused on new tavern development, exploring food and beverage concepts for the company’s resorts, and identifying opportunities for underutilized real estate assets in Las Vegas and Pahrump.
“Steve has been with Golden for over 20 years and has been an integral part of growing our business and guiding us through many challenges,” Sartini said. “Steve has established a strong operating team and has been a consistent leader throughout his decades at Golden.
“His long history and extensive experience in the industry will continue to benefit the Company in his new role focused on creating value from new tavern development and unused assets in our casino portfolio.”
According to details outlined in a U.S. Securities and Exchange Commission filing, Sartini II’s compensation package includes a base salary of $550,000 with an annual target bonus of 100% of his base. In the event of a termination without cause, he is entitled to severance equivalent to two times his base salary plus target bonus, along with stock equity awards.
Arcana’s compensation comprises a base salary of $580,000 for a one-year term, along with a target bonus of 90% of his base salary. His severance package includes prorated base salary, health insurance coverage, country club dues, car expense reimbursement until March 20, 2025, continued health benefits for 18 months, and stock equity awards, subject to specific provisions.