ith the addition of Ramsey, Multimedia Games continues to add significant and successful casino industry expertise to its senior management team. For the last six years, he served in various executive and operational positions with Harrah's Entertainment. Most recently, Ramsey served as VP and Executive Associate to the Vice Chairman at Harrah's corporate headquarters in Las Vegas.
He also has significant slot operation experience, having served as VP of Slots & Security at the Harrah's-owned Caesars Atlantic City, where he was responsible for maximizing the performance of over 3,000 gaming devices, which generated more than us$ 400 million in annual revenue.
In his role as Chief Operating Officer for Multimedia Games, Ramsey will work closely with Multimedia Games customers to maximize revenue from the company's revenue-sharing agreements including more than 15,000 gaming units in operation domestically and internationally. Maximizing the win-per-unit performance of this installed base brings economic benefits to Multimedia's customers and the company's shareholders.
“Patrick is a dynamic and thoughtful leader and brings a proven background in slot operation management and international experience to Multimedia Games,” said Anthony Sanfilippo, President and CEO of Multimedia Games. “We look forward to benefiting from Patrick's background which enhances our ability to compete aggressively in gaming markets by developing new and relevant products and driving revenue and margin growth.”
While at Harrah's Entertainment, Ramsey was part of the senior management team that researched potential domestic and international development and acquisition projects, including ventures in Latin America, the Caribbean and Europe. In addition to Caesars Atlantic City, he served in executive positions at Harrah's Joliet (Illinois) and Harrah's East Chicago (Indiana), as well as the company's Central Division office in Memphis.
“My goal is to build upon the operational excellence Multimedia Games has demonstrated for its customers and to translate this strength into shareholder value,” Ramsey said. “I am focused on taking full advantage of the domestic and international opportunities in front of us to best serve our current and future customers. I am very pleased to join Anthony Sanfilippo and his team at this point in the company's development and look forward to an exciting future with Multimedia Games.”
Ramsey joins several other senior executives at Multimedia Games with significant experience in the casino industry, including expertise in marketing, brand management and operations across multiple gaming jurisdictions. The extensive industry knowledge of Multimedia's senior management team have positioned the Company with a focus on innovation and the creation of intellectual property, product portfolio expansion, gaining global market share and anticipating and addressing customer needs and market trends.
Ramsey has been granted stock options of 300,000 shares and is tying the majority of his compensation to the future success of the company.