WMS Gaming
Company: WMS Gaming, Waukegan, IL
Company Description: WMS Gaming is a leader in the design, manufacture and marketing of gaming machines to the global gaming industry, offering a diverse array of top-earning video and mechanical reel-spinning slot machines and video lottery terminals to commercial and tribal gaming operators worldwide.
Nomination Category: Management Awards Categories
Nomination Sub Category: Executive of the Year - Media & Entertainment
Nomination Title: Brian R. Gamache, Chairman and CEO
1. Tell the story about what this nominee achieved since January 1 2009 (up to 500 words). Focus on specific accomplishments, and relate these accomplishments to past performance or industry norms. Be sure to mention obstacles overcome, innovations or discoveries made, and outcomes:
Brian R. Gamache, WMS Chairman and CEO, rejoined WMS in April 2000 as president
and chief operating officer, and, in June 2001, was named president and chief
executive officer and appointed to the board of directors. Under his
leadership, Fortune named WMS one of the fastest growing companies in the
United States while The Wall Street Journal ranked WMS among the Top 20
publicly traded companies in compound annual return over the past decade.
During Mr. Gamache's tenure, WMS' market capitalization has increased nearly 10-
fold. Prior to rejoining WMS, Mr. Gamache served as President of Wyndham
International's Luxury and Resort Division where he managed the hotel
organization's 31 luxury properties.
Since joining WMS in April 2000, Brian Gamache has focused WMS around product
quality and customer satisfaction, fostering a Culture of Innovation, which has
positioned the Company as the leader in the slot machine supplier space with
continued market share gains in its fiscal 2009.
During a period when consumer spending was severely impacted by the recession
and casino operators significantly curtailed their capital allocation for
purchases of new slot machine equipment and technology, WMS’ focus on
innovation under Mr. Gamache’s leadership has resulted in significantly
improved financial performance. In the recently reported fiscal 2009 full year
results, WMS’ fully diluted earnings per share increased 38% on a 9% year-over-
year rise in revenues http://ir.wms.com/phoenix.zhtml?c=76037&p=irol-
newsArticle&ID=1315987&highlight=. Total revenues over the most recent three-
year period have risen by 57%, despite lower capital spending by customers.
Over the same three-year period, the Company’s operating margin has improved
from 11% in fiscal 2006 to 19% in fiscal 2009 and net income has nearly tripled
from $33 million to $92 million. These improvements reflect the progress WMS
has made in developing new, innovative and engaging slot technology while
growing its ship share from low double-digit levels to above 30% in recent
periods.
Through a stringent focus on reinvesting in the Company (on an annual basis,
WMS invests approximately 14% of revenues – nearly $100 million in the last
fiscal year – on research and development of new technologies), WMS has
garnered a reputation for developing innovative technologies that continue to
transform the slot floor. Mr. Gamache put in place new initiatives that
radically changed the Company’s approach to how it manages intellectual
property development. Examples of Mr. Gamache’s success in driving the
Company’s industry leadership in innovation can be found in the accolades
customers and industry experts afford WMS. For example:
http://ir.wms.com/phoenix.zhtml?c=76037&p=irol-newsArticle&ID=1307331&highlight=; http://ir.wms.com/phoenix.zhtml?c=76037&p=irol-newsArticle&ID=1277245&highlight=;
http://ir.wms.com/phoenix.zhtml?c=76037&p=irol-newsArticle&ID=1356390&highlight=
In a survey that acknowledges management effectiveness, Mr. Gamache was
recently recognized by Institutional Investor magazine as the top Chief
Executive Officer in the gaming and lodging industries according to sell-side
analysts. Institutional Investor’s survey also cited WMS as possessing the
2010 All-America Executive Team for the gaming and lodging industries, while
WMS also tied for 20th best management across all industries.
Unlike most companies in the current economy, WMS continues to expand under Mr.
Gamache’s leadership. While the gaming industry experienced a significant
workforce reduction in 2009, WMS hired about 200 employees in its most recent
fiscal year. In 2009, WMS was ranked on InformationWeek’s list of top 500 most
innovative business technology organizations, among Chicago’s 101 Best and
Brightest Companies to Work For by The Michigan Business & Professional
Association and by Crain’s Chicago Business to be among the 50 fastest growing
companies in the Chicagoland area, among many other accolades. Furthermore,
Howard Stutz of the Las Vegas Review Journal
http://www.lvrj.com/business/43733647.html noted, “Slot machine maker WMS
must feel like the prettiest girl at the school dance. In a room full of ugly
ducklings, the Waukegan, Ill.-based company is getting all the attention.”
2. List hyperlinks to any online news stories, press releases, or other documents that support the claims made in the section above. IMPORTANT: Begin each link with http://, and enclose each link in square brackets; for example, [http://www.youraddress.com]:
http://ir.wms.com/phoenix.zhtml?c=76037&p=irol-newsArticle&ID=1315987&highlight=
http://ir.wms.com/phoenix.zhtml?c=76037&p=irol-newsArticle&ID=1307331&highlight=
http://ir.wms.com/phoenix.zhtml?c=76037&p=irol-newsArticle&ID=1277245&highlight=
http://ir.wms.com/phoenix.zhtml?c=76037&p=irol-newsArticle&ID=1356390&highlight=
http://www.lvrj.com/business/43733647.html
3. Provide a brief (up to 100 words) biography about the nominee:
Brian R. Gamache, 51, serves as Chairman of the Board and Chief Executive
Officer of WMS Industries Inc. He rejoined WMS in April 2000 as President and
Chief Operating Officer and was named President and Chief Executive Officer,
along with his appointment to the Board of Directors, in June 2001. Mr. Gamache
became Chairman of the Board in July 2008. Under Mr. Gamache's leadership, WMS
was named one of the fastest growing companies in the United States in 2007 by
Fortune magazine. Additionally, in February 2008, The Wall Street Journal
ranked WMS among the Top 20 publicly traded U.S. companies for compound annual
shareholder return for the 10-year period ended December 31, 2007.