Boyd Gaming COO leaves company after 10 years

In a statement, Smith said Boyd has been looking for ways to improve its operational performance. “Given today’s operating environment, we believe that more direct oversight and a streamlined decision-making process will position us to improve our operating performance going forward, and allow us to execute our growth strategy more quickly and effectively,” Smith said.

The company wouldn’t comment beyond the statement.In Las Vegas, Boyd operates Sam’s Town, The Orleans, Suncoast, and three downtown casinos.

Chakmak also serves on the boards of the Las Vegas Convention and Visitors Authority, the UNLV stadium authority and the Nevada Resort Association, where he serves as vice chairman.

A Boyd spokesman said it was to still to be determined who from the company would fill those positions. Chakmak moved to Las Vegas for a job with Boyd after leaving CIBC World Markets in Los Angeles, where he focused on debt and leverage financing.

He previously served as Boyd’s chief financial officer. “Paul helped strengthen our financial organization as CFO, and as COO he helped guide our operations through a period of significant expansion,” Smith said.

In the same statement, Boyd Gaming reaffirmed its previous financial projections for 2014, saying the company’s cash flow would be in the range of USD 580 million to USD 600 million.