Asaka Ishiyama has more than 35 years of hands-on business experience in real estate, construction, financing, and business both at foreign capital and Japanese companies, with extensive exposures to American, Australian, Southeast Asianand South Asian business cultures.

Ishiyama previously was the head of Citigroup asset management group, where he directed and managed debt/real investment investments in Japan.

Ishiyama worked with major foreign and Japanese real estate investors/developers, and involved in major asset acquisition, planning/development, operation, management, restructuring/refinancing and disposition both at home and abroad. The properties Ishiyama has concerned with diversify highly from urban commercial complex development including casino facility to world-class luxury beach/golf/ski mountain resorts.

Ishiyama holds USCPA and a Japan Real Estate Brokerage License. He graduated from Sophia University in Japan.

Fredric E. Gushin

Managing Director

Fredric Gushin founded Spectrum Gaming Group in 1993 after working 13 years for the New Jersey Division of Gaming Enforcement (“DGE”), where he was promoted to Assistant Director and Assistant Attorney General. At the DGE, Gushin oversaw the openings of 12 Atlantic City casino hotels and managed civil and administrative litigation before the New Jersey Casino Control Commission. He personally argued more than 50 cases before the Commission.

Gushin has worked with a variety of private-sector and governmental clients since founding Spectrum. He has advised private casino developers on operational and management issues and provided gaming expertise to a number of gaming jurisdictions over the years. He also served as a Commissioner with the Oneida Indian Nation Gaming Commission that regulates the Turning Stone Resort Casino near Syracuse, NY.

Gushin has worked with private sector clients throughout the United States, the Caribbean, South America, Asia and Europe on a wide range of issues. As Assistant Director and Assistant Attorney General of New Jersey’s Division of Gaming Enforcement, he oversaw all compliance related issues regarding New Jersey’s multibillion-dollar gaming industry including security and surveillance, development and compliance with accounting and internal control procedures and development of emergency plans to respond to incidents occurring in casino.

With Spectrum, Gushin has led engagements evaluating casino operations for compliance for private sector and governmental clients.

Gushin received his BA from the American University School of Government and Public Administration in 1970, his Juris Doctorate from Rutgers University in 1973, and his Masters from American University in 1979.

Michael J. Pollock

Managing Director

Michael Pollock oversees a broad portfolio of Spectrum services, including policy and impact studies for country, state and local governments, and financial and market studies for private-sector clients.

Pollock began analyzing the casino industry in 1978 and served as spokesman for the New Jersey Casino Control Commission from 1991 through 1996. He was a close advisor to the chairman, and oversaw the Office of Legislative Liaison. During this period of rapid deregulation, his charge was to maintain public confidence in the integrity of the regulatory system.

Pollock is the author of the award-winning book Hostage to Fortune: Atlantic City and Casino Gambling, published by the Center for Analysis of Public Issues in Princeton. The book examines the impact of casinos on Atlantic City and New Jersey. He has testified before the International Tribunal at The Hague, the World Bank in Washington DC, the US Senate Indian Affairs Committee and the US Senate Select Committee on Indian Gaming, and has been a featured speaker at the Congressional Gaming Caucus, a group of US House of Representatives members from gaming jurisdictions. He has also testified before numerous legislative committees throughout the United States.

He has led Spectrum economic analyses in markets throughout North America, as well as in Latin America, Guam and Korea.

Pollock has won 20 journalism awards, and is the former editorial page editor of The Press of Atlantic City. Pollock is often cited by national media outlets, including The New York Times, Star-Ledger, BBC, MSNBC, ABC News and National Public Radio.

Pollock earned his MBA, with high honors, from Rutgers University, and has served as a member of the adjunct faculty of New York University, Rutgers University and Stockton University.

Dan Phillips

Senior iGaming Adviser

Over a 25-year period, Dan Phillips has established himself as a senior figure in the regulated gaming industry for several public and leading companies across the online, retail and social spaces. He has held director and C-level roles with Playtech, Gala Coral, Chartwell, Fertitta Interactive, and others.

Phillips advises B2B and B2C organizations in Europe, the Americas and Africa in disciplines including operations, content, responsible and ethical practices, risk management, change management, new technology, and commercial engagements.

Originally a croupier, Phillips worked his way up through London’s retail casino industry before developing, launching and operating online and mobile casinos, poker, bingo, live dealer, social and sports products. He has also worked on and integrated multiple M&A projects in the sector.

Phillips holds several business and economics diplomas, as well as having held gaming, key individual and personal management licenses with the UK and Alderney gaming commissions. He is FT Non-Executive Director trained and sat as a school governor chairing various committees including finance, remuneration, resourcing, and information and communications technology.

Matthew Roob

Senior Vice President, Financial Analysis

Matthew Roob joined Spectrum in January 2019 after seven years at Seneca Gaming Corp., where he most recently served as Executive Director of Financial Planning and Analysis. At Seneca, he worked with the executive team in overseeing three successful casinos in Western New York

Roob is a strategic and financial analyst experienced in financial markets and management consulting. His experience in casino development and other gaming jurisdictions began in 1995, when he worked with Casino Magic, Ameristar and Isle of Capri on developments in the Southeast and Midwest. His work for these clients led him to KPMG where he was focused on casino valuation and development. Roob led a team to value Alliance Gaming’s casino operations in Mississippi and Nevada for a possible sale. The result of the valuation encouraged Alliance to continue to operate the properties and more fully develop them for many years prior to the sale.

Roob’s first casino-company experience came in 1998, when he left public consulting to become the Manager of Planning & Analysis for the riverboat casino operator Empress Entertainment. As the internal consultant for the ownership group, Roob was active in evaluating the market potential for placing slots at the Woodlands Raceway in Kansas City, KS, and developing the valuation and the bid for a riverboat in Missouri. He also evaluated Empress’s competition and marketing strategies helping shape the plan that raised EBITDA and led to the eventual sale of Empress to Horseshoe Gaming.

At Merit Management, Roob worked in casino development and operating consulting. He developed economic impact models, market cannibalization and the financial models for casinos in Vicksburg Mississippi, and French Lick, IN. His domestic casino work ranges from developing a valuation and operating plan for a casino cruise line in Florida, to market analyses of Cripple Creek and Blackhawk Colorado as well as work with cardrooms and tribal casinos in Washington State.

While his primary responsibilities with Seneca Gaming were overseeing the budget process and the analytics of the gaming, hospitality and marketing programs, the Nation was interested in expanding its operations, and fending off competitors. He again stepped into casino development and market evaluation mode. The Nation expanded its Buffalo Creek Casino from 457 slots and a snack bar to a full casino with 1,100 slots, 30 tables, three restaurants and a sports bar. Balancing sizing of the new project to maximize the market without eroding the Seneca Niagara Falls Casino was the prime challenge. The project has expanded the overall market without impairing the Niagara Falls operation.

In this development analytics role, Roob was also responsible for developing the financial model for a fourth tribal casino in the Rochester suburb of Henrietta, NY, which included identifying the level of penetration by existing operators and the underserved nature of the market, a detailed five-year financial model, and presenting the economic impact and employment estimates to the Henrietta City Council.

Roob earned an MBA from the University of Chicago and B.A. degrees in Economics and History from Kenyon College.

Alex Igelman

Principal, Spectrum Esports Advisors

Alex Igelman, the Executive Chairman and Founder of Millennial Esports Corp., is a lawyer with over 25 years of experience in technology, entertainment and casino gaming. In 1996, Igelman was the first lawyer to focus on Internet gaming and in this regard was instrumental in the early success of both PartyGaming and PokerStars. In 2004, he was involved in the creation and formation of Gaming VC, an AIM listed public gaming company that has become a giant in the space. Since 2013, Igelman has been focused on the esports sector and in 2014 came in as a consultant to PGL, the first esports related company to be later acquired by Millennial Esports Corp. In late 2016, he was elected CEO when the company went public on the TSX-V (GAME) and since that time has led the company in its successful growth and has raised over $27 million in doing so.

Juliann Barreto

Director of Finance

Juliann Barreto started in the gaming industry in 2007 working for Ernst & Young, where she advised private equity firms in the acquisition of hotels and casinos. Specifically, she led forensic investigations of casino applicants and worked with gaming regulators to review such applicant’s suitability for gaming licensure. Barreto investigated applicants for major gaming corporations such as Harrah’s Entertainment, The Palms and Penn National Gaming.

Barreto joined Spectrum in 2018, bringing with her more than 15 years of experience in accounting, finance and forensic investigative experience. At Spectrum she oversees the accounting functions and growth strategies. She also acts as the Financial Director for the National Council of Legislators from Gaming States, for which Spectrum serves as Executive Director.

Prior to joining Spectrum, Barreto was chief financial officer of an International Restaurant and Real Estate Group. At Aoki Group Inc., Juliann oversaw all finance and accounting functions, as well as real estate investment and business development. Previously, she was a Senior in Assurance and Advisory at Ernst & Young, and the Chief Budget Officer and Treasurer at the University of Miami Graduate School.

Barreto holds a BA in Accounting and Finance and a Master’s of Professional Accounting and Financial Planning from the University of Miami. She is a member of the AICPA and founder of a 501(c)3 education fund.

Timothy Tangye

Chief Technology Officer, Chief Security Officer

Tim Tangye joined the Spectrum Gaming Group in 2016 with its acquisition of NFC Global. Tangye has more than 30 years of professional experience in information technology, holds A+ and Network+ certifications, and has been with NFC Global since 1991. His educational background in information technology and criminal justice as well as eight years of police training with the Law Enforcement Explorers of two different municipalities combine to form a unique mix of skills and knowledge well suited to support Spectrum and NFC’s investigative businesses.

While at NFC Global, Tangye has developed software systems to identify and detect fraud in financial services loan applications, as well as the fraudulent use of cellular telecommunications. Both of these systems were commercialized and sold to leading companies in their respective industries. He was the co-architect of NFC’s WebProducts™ online ordering, tracking and case management system.

Tangye has conducted computer investigations; including assisting a major Legal and Risk Management information provider with a multi-state investigation to identify and successfully prosecute a computer hacker involved in data and identity theft activity. He was also responsible for the identification and location of a suspect making death threats against a contestant for a major pageant organization. Tangye also assisted a university with the investigation of internal misuse of computing resources, leading to the identification and termination of the employee involved.

Prior to joining NFC, Tangye served as a computer programmer at Automatic Forecasting Systems, a statistical forecasting software company, where he developed software to automate time series analysis.

Tangye graduated from the Middle Bucks Institute of Technology with a degree in Computer Technology. He also studied at Bucks County Community College with a focus on Criminal Justice, Statistics, and Fortran Programming.

Stephen Gongaware

Stephen J. Gongaware is Senior Vice President of Business Development at Management Science Associates, Inc. (MSA), a privately held diverse information technology services firm providing innovative solutions driven by its three core competencies of analysis, technology and data management. Gongaware leads MSA’s Casino Gaming Practice, offering solutions for casino sports books, slot operations, marketing analytics, casino mobile applications, and innovative services for gaming-equipment manufacturers. Gongaware has developed and led projects with six of the top 10 casino operators worldwide. Gongaware further oversees MSA operations in Southeast Asia, including mainland China. Gongaware has developed multiple successful partnering arrangements with Fortune 500 companies.

Prior to joining MSA, Gongaware was CEO of NetworkNext, a national advertising firm, Director of Research and Development for Cellomics, Project Manager for Golf Digest Information Systems, and an Electrical Engineer at Westinghouse Electric Corporation. Gongaware was awarded US Patent #US6365367.

Gongaware received his BSEE degree from the University of Pittsburgh in 1992 and his MBA from the Katz School of Business in 1995.

Anthony Restuccia

Chief Financial Investigator

Tony Restuccia has over 39 years of experience in casino regulation, casino administration, loss prevention, and accounting. He has 26 years of experience in the New Jersey Division of Gaming Enforcement (“DGE”) managing all aspects of casino regulation and enforcement. Restuccia has 13 years of experience in the private sector including loss prevention, auditing, and financial analysis. His private sector experience includes seven years with Walmart, four years with CPA firms, and two years in the casino industry.

At the DGE, Restuccia held several management positions including Chief Investigator, Deputy Chief – Licensing Investigations and the Supervising Agent for the Office of Financial Investigations. His responsibilities included managing the investigations of corporate, service industry and individual license applicants, conducting financial analysis, and regulatory and enforcement matters relating to casino operations and DGE’s slot machine lab.

Restuccia spent two years in Casino Administration in Nevada where he developed and implemented management policies and regulatory procedures relative to casino operations, prepared forecasts, budgets and financial analysis.

He began his career with CPA firms in New Jersey and Philadelphia, where he serviced a wide range of small to medium size clients in all phases of accounting, auditing and taxation.

Restuccia received his BS in Business Administration with a major in Accounting from Waynesburg College in 1974.

William Kisby

Senior Vice President – Investigations

Bill Kisby is the former Senior Director of Gaming and e-Commerce of NFC Global LLC, a US-based global company and a division of Thomson Reuters. NFC was a recognized security industry leader, providing international due diligence, risk consulting and compliance services to a diverse set of clients.

Kisby served 27 years with the New Jersey State Police, 15 of which were with the New Jersey Division of Gaming Enforcement Casino Intelligence Unit. Kisby later became Unit Supervisor of the Casino Intelligence Unit and also the New Jersey State Police South Unit, which monitors organized crime in southern New Jersey.

Kisby also served for five years as Adjunct Faculty with the Atlantic Community College, Casino Career Institute, where he taught a course on organized crime and the casino industry to law enforcement officers from jurisdictions involved in casino gaming throughout the United States and Canada. He has also testified before the President’s Commission on Organized Crime regarding organized crime infiltration in the casino industry in New Jersey and as an expert on organized crime before the New Jersey Casino Control Commission.

Kisby was formerly on the Board of Directors of the Law Enforcement Intelligence Unit Foundation from its inception in 2003 through 2010. He also is a Member of the Council of International Investigators. Kisby is a licensed private investigator with the state of New Jersey (1996-present).

Kisby has extensive experience working for governmental clients throughout the Caribbean, working on such engagements as due diligence investigations, anti-money-laundering consulting, and regulatory consulting.

Michelle Martin

Senior AML Associate

Ms. Michelle Martin is President, ComplianceAid, AMLFC Institute & theList.pro. She possesses over twenty-four years of experience in banking, insurance, regulatory compliance, public and private accounting. She is a Certified Anti-Money Laundering & Financial Crimes Prevention Professional (CAMLFC) and Certified Anti-Money Laundering Specialists (CAMS). Ms. Martin is founder of the Anti-Money Laundering and Financial Crimes Institute (AMLFC Institute). During the last 8 years; Ms. Martin was an invited speaker at 37 Conferences/Seminars in 31 countries where 10,000+ Financial Industry executives were educated on Anti-Money Laundering (AML), Counter Financing of Terrorism (CFT), Financial Crimes Prevention (FCP) & Foreign Account Tax Compliance Act (FATCA) topics. Ms. Martin has trained over 600 Senior Public Officials, Members of Parliament and Ministers from the Americas. She developed and implemented 73 AML/CFT Policies, Procedures and Risk Assessment Program for Financial Institutions active in multi-jurisdiction that led to uniform risk mitigating procedures design to detect, deter, prevent for compliance with laws and regulations of 21 countries. She also contributed with 47 main stream media to produce reports on Anti-Money Laundering issues directed toward the general public or business community. Recently, she instituted the customer risk rating system of a top U.S. Bank with customer base of 7.5 million and coordinated an enhance due diligence (EDD) remediation project of all high risk customers.

Douglas M. Walker

Senior Academic Affiliate

Doug Walker is a professor of economics at the College of Charleston, in Charleston, South Carolina. He also owns a consulting firm, Casinonomics Consulting, LLC. Walker is recognized as a top expert in the world on the economic and social impacts of casinos. He has worked with Spectrum on numerous engagements, including major projects in Florida, Iowa and Indiana.

Walker has written two books, the most recent of which is Casinonomics: The Socioeconomic Impact of the Casino Industry (2013, Springer). He has published more than 40 academic journal articles and book chapters on the economics of gambling. His papers have been published in journals such as Applied Economics, Contemporary Economic Policy, Growth and Change, International Gambling Studies, Journal of Gambling Studies, Journal of Health Economics, Public Choice, Public Finance Review, and Review of Regional Studies.

Walker serves as the Economics Editor for Gaming Law Review and Economics, a Regional Assistant Editor for International Gambling Studies, and he is on the Editorial Board of the UNLV Gaming Research and Review Journal.

Daniel Schiffman

Vice President – Support Services

Daneil Schiffman is a prominent gaming lawyer and transactional attorney, commercial litigator and mediator. He coordinates litigation support and Spectrum’s panel of expert witnesses as well as working with Spectrum’s array of services to law firms, governments, regulators, and gaming enterprises.

Schiffman has served as a Referee, Special Master, Mental Hygiene Evaluator, Guardian ad Litem, and Receiver in Supreme and Surrogates’ Courts, as Counsel to Puerto Rico’s Economic Development Administrator and Secretary of Labor, and as Legal Advisor to the US General Service Administration, and the New York City Jr. Chamber of Commerce.

As a continuing legal educator, Schiffman was a consultant and lecturer for Practicing Law Institute’s Bar Review course among others. In the gaming law field, his work includes lecturing for World Gaming Congress, (1987-1999) Global Gaming Expo, American Bar Association, ALI-ABA (co-chair of gaming law series). Publications include Casino Credit and Collection Law (IAGA, 1989), International Casino Law (U.Nev.,1991;1993,1999), The Gaming Lawyer(1985–2005). Member, Editorial Board, Gaming Law Review (1997-present).

At New York University School of Law, Schiffman was a member of the Law Review staff, earned the University Prize Scholarship, and was President of the Pre-Bar Association. He is a member of the bars of New York, U.S. Supreme Court, U.S. Courts of Appeal for the 1st, 2nd , 3rd and 4th Circuits, U.S. District Courts for New York, the NYC Bar Assoc., International Assoc. of Gaming Advisors, and International Masters of Gaming Law. He enjoys the highest peer review rating (av) from Martindale-Hubbell and many other sources.

Vigne Kozacek

Senior IT Associate

Vigne Kozacek has more than 25 years’ experience of managing information technology operations and business activities, predominantly in the gaming industry. With a career base including Camelot, Boylesports and William Hill, he has successfully delivered and managed positive change programs including merger support and solution acquisitions.

As Head of Special Projects then Head of Business Information Systems (BIS) Security at William Hill Plc, Kozacek delivered major infrastructure development programs. His combination of expertise of collaborative systems management and the ability to identify change priorities and value-added solutions were demonstrated in improvement to operational performance, revenue maximization and minimizing risk.

Specifically at William Hill, Kozacek was tasked with managing the technology elements to bring about the merger of three acquired entities – acquisition in Nevada centered on sports books, remote licensed betting terminals (LBTs), and the development of a feature-rich mobile sports betting platform. He also led the upgrade of a 20-year-old computerized race and sports book system (CBS) legacy system integrating diverse betting platforms, legacy systems and third-party products.

When appointed as the first IT Director to Ireland’s largest independent bookmaker, Boylesports Ltd., Kozacek inherited an under-resourced IT department, a customer-centric business operating a single website, and a system unable to handle volume betting.

A root-and-branch review of IT requirements, the recruitment and training of new staff, and the development of six new websites to facilitate online betting with extensive improvements to the licensed betting office offering across 161 sites lead to a total revision of the systems to a market leading state.

Kozacek has extensive experience of working closely with leading suppliers of betting applications and platform providers including IGT and OpenBet to identify, evaluate and implement cutting edge gaming solutions. Kozacek has attained in excess of 40 IT and ICT (information computer technology certifications throughout his career to date.

Patty DiFlorio

Associate

Patty DiFlorio is a former Manager of the Casino Accounting and Operations Unit of the NJ Casino Control Commission. The Unit is responsible for evaluation of Internal Control Procedures and regulatory compliance for all Atlantic City Casinos on an ongoing basis and during mock openings. The unit also works closely with Commission attorneys to amend and update the NJ Regulations related to Internal Controls, Gaming Equipment and Rules of the Games.

With Spectrum, DiFlorio has worked with West Virginia Government officials in finalizing Minimum Internal Control Standards and led a team in evaluating procedures during various trial openings. She has also done compliance reviews and financial stability evaluations for other jurisdictions.

DiFlorio has been a tax preparer and advisor for 19 years dealing mostly with individual and small business tax returns.

DiFlorio graduated with honors from The College of NJ with a BS in Accounting and is a licensed CPA in the State of NJ.

Lee Richardson

CEO, Gaming Economics

Lee Richardson, founder and CEO of Gaming Economics, an international iGaming consultancy and advisory business, works with Spectrum on US-based sports betting engagements. He boasts clients in Europe, Asia and the Americas. He also delivers a Sportsbook Management module for the Totally Gaming Academy, a division of Clarion Events.

A General Motors-trained engineer, Richardson held senior marketing and commercial roles with the Hertz Corporation in both UK and Europe. He is a Former marketing director with the British Horseracing Board and has since operated within the iGaming business for almost 20 years, holding senior CEO/COO roles with Tote Direct, Coral-Eurobet plc, Chartwell Games International, Boylesports and ONEworks.

Richardson earned his MBA from University of Strathclyde (Glasgow). He is a Chartered Marketer and a Fellow of the UK Chartered Institute of Marketing.

Doug Reed

Senior Pari-Mutuel Associate

Doug Reed is a widely recognized authority in the horse racing industry, and is also active in the evolution of the racino industry. He is Director Emeritus of the University of Arizona Race Track Industry Program (“RTIP”) and has extensive experience as a racing official, track executive and racing and gaming industry consultant. He also is involved at the intersection of eSports and gaming with is partnership with Spawn Point, a strategic partnership to utilize eSports to enhance and invigorate gaming properties.

He was affiliated with the RTIP for 20+ years and responsible for all aspects of the racing program, including administration, instruction, promotion and fundraising. He was also director of the RTIP’s annual Global Symposium on Racing & Gaming, North America’s largest pari-mutuel racing conference.

Prior to joining the University of Arizona, Reed was vice president of Santa Fe Racing, Inc., which operated two pari-mutuel tracks in New Mexico. He also spent many years as a racing official, including serving as racing secretary at Arlington Park, Oaklawn Park and Rockingham Park.

Reed has been a featured speaker and presenter at a variety of industry conferences, seminars and events, including events hosted by the Asian Racing Conference, Association of Racing Commissioners International, Harness Horsemen International, International Simulcast Conference, National Council for Legislators from Gaming States and the International Conference of Gambling & Risk Taking.

Highly regarded on the international racing scene, Reed has ties to many international racing jurisdictions, including Japan, Hong Kong, Singapore, Canada, New Zealand, Australia, Ireland, United Kingdom, France, Sweden, South Africa and Korea.

He received his undergraduate degree in mathematics from Albright College, and an MBA from the University of Arizona, Eller School of Management.

Ted Grove

Senior Associate for Legal and Law Enforcement Services

H. Theodore (“Ted”) Grove spent the majority of his legal career with the New Jersey Attorney General’s Office, where he served in a variety of assignments for 18 years. For eleven years he was a State Prosecutor in the elite Organized Crime and Racketeering Bureau, For the last seven years he was the Bureau Chief and Supervising Deputy Attorney General of the Casino Prosecutions Bureau, which exclusively handled all crimes committed in Atlantic City’s 13 casinos, including many sophisticated cheating schemes as well as substantial money laundering prosecutions. He was a member of the Atlantic City Money Laundering Task Force for 10 years, seven of which he served as co-chair of the joint federal-state Task Force.

After retirement from the Attorney General’s Office in 2007 he joined Spectrum, where he has undertaken a variety of assignments. He assisted gaming regulators in West Virginia and Delaware in drafting expansive statutes and regulations as those states respectively transitioned from racinos into full table game casinos, analyzed the impact the expanded casinos would have on their law enforcement and criminal justice systems, and instructed regulators, police and prosecutors in the detection, investigation and prosecution of gaming crimes and related Bank Secrecy Act issues.

Grove was a key member of Spectrum’s team which counseled both the Ohio Casino Control Commission and the Massachusetts Gaming Commission as they formulated policy to implement newly authorized casino gaming. Ted led teams in both jurisdictions investigating and assessing the casino licensing suitability of corporate and individual applicants. Grove also completed a long-term assignment for the Casino Regulatory Authority of Singapore, which retained Spectrum for regulatory and due diligence matters related to Singapore’s evolving casino industry.

Grove is a graduate of Delaware Law School, and is admitted to practice law in New Jersey and Pennsylvania.

Scott Fisher

Senior Associate Analyst

Scott Fisher has consulted on leisure industry development projects, from development project financial analyses to economic impact analyses, since 1994. He has experience with feasibility analyses, cash flow projections, ROI analyses, development planning, economic impact analyses and strategic positioning for a broad array of leisure developments. Fisher has provided strategic advisory services for existing operations looking to increase market share and operating margins. He and project staff have provided commercial operators, private developers and Native American tribes and First Nations with casino, hotel- and resort-related analyses, as well as demand modeling for golf course, marina, theatre, bowling alley, spa and other related leisure developments.

Fisher has worked for Spectrum on various engagements around the world.

Fisher earned an Executive MBA from Freeman School of Business, Tulane University. He also holds a MA and PhD in Economics from Tulane University and a BS in Mathematics/Economics from Union College in New York.

Thomas Alcorn

Senior Associate – Africa

Tom Alcorn brings extensive international experience to every engagement. Based in South Africa, he has specialized in operating, and consulting for, small to mid-sized gaming operations throughout Africa and Europe.

Alcorn spent 13 years in senior management at Sun International, at the time the most prominent gaming operator in Africa before moving on to management positions at a newly opened casino resort in Greece. He spent four years with Emerald Safari Resort & Casino in Johannesburg and then two years with Storm International, a major casino operator in Russia.

For the last 12 years, Alcorn has specialized in opening, training and consulting for gaming projects throughout Africa and Europe.

Joan Alcorn

Senior Associate – Africa

Joan Alcorn has consulted in the casino, tourism, hospitality and leisure sectors since 1983. She began her career with leading international travel company Rennies Travel after earning a National Diploma in Travel & Tourism as well as the three IATA certifications, including the Advanced IATA certification.

Early in 2006, Alcorn was invited to serve on a panel of Failte Ireland West Region (Tourism Ireland) to work on a white paper for the development of an integrated casino resort on the rural North-West Coast of Ireland to boost the tourism and rural infrastructure.

Alcorn has successfully marketed and was part of the opening and development teams of many casinos, integrated resorts and other leisure developments across Africa, the Caribbean and Europe. This has led her to provide numerous companies with professional research and feasibility studies for the development of casinos (land and internet-based) and other gaming-related business.

In Africa, Alcorn has driven and managed change as a consultant for several casino companies based in Tanzania, Uganda, Kenya, Swaziland and South Africa by developing and implementing casino procedures and ensuring compliance. During her time in Uganda she was part of the team that provided the initial draft for the law reform for gaming in Uganda.

Alcorn is a 1993 graduate of the University of South Africa (UNISA) with an MBA degree majoring in International Marketing.

Andrew Krimmel

Director of Finance and Administration

Andrew’s expertise is in the area of finance. His career began with working for one of the largest mutual fund families in the US based in Malvern, PA. While there, Andrew worked his way onto one of the company’s corporate finance teams providing analytical support and analysis to senior management and top executives. From there Andrew moved on to serve as the CFO for a boutique due diligence firm. He was responsible for coordinating health insurance, 401(k) plan, payroll and accounting along with human resource accountabilities. Andrew specialized in providing complex analysis and financial forecasting. Andrew’s ability to powerfully articulate the results of his forecasting and analysis shaped the decisions made by top level executives and led the company to enter its most profitable year. Andrew holds a Bachelor’s degree in Finance from the University of Pittsburgh.

Andrew Tottenham

Senior Associate – Europe

Andrew Tottenham is managing director of Tottenham & Co, an independent consulting firm specialising in strategic planning, feasibility studies and project development for the international gaming industry, and is the senior associate for Spectrum Gaming Group’s European operations.

Tottenham founded Tottenham & Co. in 1986, fostering its growth into one of the most prestigious management consulting firms specializing in the international gaming industry. Tottenham clients include blue chip gaming operators such as Las Vegas Sands, Sun International and Rank PLC, as well as suppliers such Deloitte, KPMG and IGT. The firm has also acted as advisers to the governments of Hungary and Switzerland. Andrew Tottenham has owned and/or managed casinos in the UK, Turkey, Spain and the Czech Republic. For five years, Tottenham was Managing Director Development Europe for Caesars Entertainment Inc; as such he was responsible for Caesars expansion into Europe, the Middle East and Africa. In addition, for almost three years, Tottenham was the In-Country Project Lead for Las Vegas Sands’ Madrid project.

Tottenham has provided expert testimony for numerous Government inquiries into the social and economic impact of gambling in the United States, United Kingdom and Europe. He has extensive experience of lobbying the European Commission and other European institutions on behalf of his clients.

In his role as a consultant and as MD Development for Caesars he has analysed the viability of casino resorts throughout the world, including but not limited to; Japan, Korea, Austria, France, Greece, Italy, Turkey, Spain, Portugal, Canada, and the USA. He has negotiated joint venture and management agreements in China (SMS lottery), Slovakia, the Netherlands, Spain, Slovenia, and the Czech Republic. Tottenham has also had involvement in the interactive gambling industry having project-managed the development of online casinos and an interactive TV gambling channel.

Tottenham was instrumental in the founding of a charity, The GREaT Foundation (now The Responsible Gambling Trust), which raised and distributed funds for research into and the treatment of problem gambling. In its first year, during which he was Chairman, the charity raised £5 million pounds from the UK gambling industry.

David Isaacson

Vice President – Spectrum Gaming Capital

David Isaacson is Vice President at Spectrum Gaming Capital. Isaacson is an expert at analyzing gaming bank loans, high-yield and other forms of corporate debt. He was the co-author of our September 2013 Internet Gaming Presentation.

He joined SGC from Moody’s Investors Service where he covered a portfolio of gaming, lodging and cruise companies and, previously, as a Structured Finance Analyst covering asset backed securitizations. In his work at Moody’s, David was responsible for assigning rating recommendations, monitoring ratings and drafting credit related research on commercial casino companies, Native American casinos and gaming equipment manufacturers, and on the gaming and leisure industry generally.

David has an MBA from NYU’s Stern School of Business with a concentration in Corporate Finance and Accounting, and a Bachelor’s from Yeshiva University where he majored in Economics and graduated with honors.

Joseph S. Weinert

Executive Vice President

Joseph Weinert has been analyzing the gaming industry since 1996. At Spectrum, he researches and directs studies for private- and public-sector clients worldwide. He has been the project leader for numerous projects in multiple domestic jurisdictions, as well as in the Czech Republic, Russia, Slovak Republic, Spain and United Kingdom.

Weinert works on an unusually broad range of projects, including market analyses (domestic and international), economic-impact studies, reasonableness analyses, litigation support, strategic planning, regulatory services, due diligence investigations, and Internet gambling, among other areas.

Weinert came to Spectrum after 18 years at The Press of Atlantic City, where for his last eight years he was responsible for the newspaper’s intensive coverage of the casino industry. He is a frequent speaker at industry conferences worldwide and has been quoted in prominent media outlets, including The Wall Street Journal, Financial Times, Barron’s, Forbes, New York Times, Washington Post, USA Today and CNN, among many others. In addition, he has testified before legislative committees in Massachusetts, New Jersey and Pennsylvania.

Weinert helps to organize Spectrum’s three nationally recognized conferences – the East Coast Gaming Congress, Florida Gaming Congress and Pennsylvania Congress. He is a member of the Advisory Board of the Eastern European Gaming Summit, held annually in Sofia, Bulgaria.

Weinert holds a BA in Journalism from Ohio Wesleyan University and a certificate for completing the Wharton Seminars for Business Writers at the University of Pennsylvania.

Julian Graves

Non-Executive Chairman

Julian Graves joined Spectrum as Non-Executive Chairman in September 2017. He has worked across a wide variety of industry sectors and in a number of capacities. Boasting a deep understanding of data, customer insight and relationship management he has harnessed the power of brands to create and manage highly successful and sustainable businesses with turnover in excess of £30m and teams of 70+. He has sold, acquired and restructured assets and businesses to maximize growth potential, conceptualized, developed and installed new business IT systems and processes and extended traditional bricks and mortar enterprises into the digital world.

As a Managing Director at Clarion Events, Julian transformed the Gaming Division into the world’s most successful and respected provider of exhibitions, conferences, training and information for the global gaming industry.

He led the rehabilitation of a “damaged brand” and created the Totally Gaming strategy, which underpinned the rebirth of ICE – now the world’s largest gaming business exhibition. He successfully created and launched new events in Brazil, Japan and Africa to support the responsible development and expansion of the gaming industry in these regions and also developed and created Juegos Miami, produced specifically for the Pan-LATAM gaming industry. During his tenure he was responsible for the highest ranking digital info service, TotallyGaming.com and through acquisition and product development created The Totally Gaming Academy, a practitioner-led, global training service for regulators, operators and suppliers.

Having worked intensively in media sensitive arenas, including the international gambling and global defense and security sectors, Julian has a conceptual understanding and ‘coal face’ experience of deploying effective crisis management strategies.

Liliana Costa

Vice President Latin America

Liliana is a leading government and international relations expert specializing in public policy in complex sectors in challenging markets.

Liliana developed her skills in the oil and gas sector in Africa and during the last five years has developed a deep understanding of gaming throughout Latin America and Caribbean with a major focus on Brazil as the country attempts to modernize it’s gambling laws.

Amongst her core strengths is the ability to develop meaningful relationships at the highest levels with a broad spectrum of stakeholders including legislators, civil servants and regulators.

Her strategic insight into process and policy enables her to create constructive dialogue between all stakeholders in gaming and to advise suppliers and operators on their Latin American and Brazilian expansion and development strategies.

Patrick Malia

Senior Construction Analyst

Patrick J. Malia is a Spectrum Associate who specializes in providing regulatory and construction code consulting services as well as permit-expediting services throughout the country. Malia was previously Vice President and Regulatory Liaison for the Friedmutter Group, a large architectural firm specializing in casino and entertainment venues. He has been involved in various capacities in the construction industry for over 25 years.

Malia previously was employed as the Construction Official and Building Official for the City of Atlantic City, where he was responsible for supervising over 25 clerical personnel and Inspectors. Malia was responsible for the Inspections of the City’s casino and high-rise structures along with the plan review and inspection process for all buildings in the city.

Malia is licensed by the State of New Jersey Department of Community Affairs as a Construction Official, Building Official and Building Inspector and Fire Inspector for High-Rise and Hazardous Structures. He is also licensed by the International Code Council as a Building and Fire Inspector and Building Plans Examiner.

Malia holds a Bachelor of Arts degree from Rutgers University.

Paul Bromberg

Chief Executive Officer, Spectrum Asia

Paul Bromberg is Chief Executive Officer of Spectrum Asia, and has been overseeing and conducting investigations in Asia since 1988. During this time, he has worked closely with various government and law enforcement departments. He has undertaken numerous surveys and due diligence investigations for many international gaming and corporate clients.

Bromberg was formerly Director of Research for Kroll in Hong Kong before founding the specialist investigations firm, OVG International Ltd. He served as a Director of the Asian operations of Armor Holdings, Inc, a NYSE listed security and investigations firm, which acquired OVG International in June 2000, before co-founding Spectrum Asia in June 2003.

Bromberg is a recognized expert on Chinese and Southeast Asian business affairs. He speaks regularly at gaming and risk advisory conferences, and is often quoted in local media and news publications. He has had numerous articles published in various industry publications. He is also a contributing author to “Casino Industry in Asia Pacific,” published by The Haworth Hospitality Press in 2006. Bromberg served from 2006-2013 as a member of the Conference Advisory Board for Global Gaming Expo (G2E) Asia.

Bromberg has a B.A. (Honours) degree in Modern Chinese Studies from the University of Leeds, England. He spent several years conducting research at Fudan University in Shanghai and at Xiamen University in Fujian Province, China.

Paul Sternberg

Senior Lottery Associate

Paul R. Sternburg brings 25 years of marketing, sales and management expertise as a senior consultant to Spectrum.Having spent the past three years as the leader of the most successful lottery in the United States, Sternburg distinguished himself as one of the industry’s most imaginative and knowledgeable voices. He was appointed Executive Director of the Massachusetts State Lottery in January 2011 where his leadership was absolutely essential to the organization’s record-breaking success. Under his leadership, the Lottery posted two consecutive years of record sales and two highest net returns in its 41 year sales history. Sternburg, who has 17 years of experience with state lotteries, believes the industry is on the cusp of major innovation and change and is working with a talented industry to leverage technology and partnerships to help deliver revenue to good causes and facilitate responsible growth.

Pieter Remmers

Senior Responsible-Gaming Associate

Pieter Remmers is a global expert in responsible gaming and training gambling industry professionals. He has been involved in projects with the gambling industry since 1989.

He has worked on responsible gaming policies and programs in a number of countries i.e. Netherlands, South Africa, Germany, Switzerland, Luxemburg, Belgium, Italy, Spain, Malaysia, Singapore, Canada, Malta, Sweden and others. Besides Pieter is a consultant worldwide for as well as the gambling and betting industry land based and online, casinos, slot machine halls and lotteries and for regulators or other governmental bodies.

He has worked with IGT/GTech/Lottomatica (Italy , USA), Holland Casino (The Netherlands), Unibet (UK , Malta), Sun International (South Africa), Svenska Spel (Sweden), Gauselmann/Merkur (Germany), Betsson (Sweden, Malta), Fair Play Casinos (The Netherlands), Staatsloterij (The Netherlands), Lotto NL (The Netherlands), Casino 2000 (Luxembourg), SNAI (Italy), Betfair (UK), National Lottery(UK), Industry Branche organisations like AWI (Germany),VAN (The Netherlands), European Casino Association (Belgium) and many more.

He has also worked for a host of government agencies in markets such as Singapore, The Netherlands, Sweden and South Africa.

He is a member of the Executive Committee and serves as Secretary General of the European Association for the Study of Gambling (EASG). He is also a shareholder/board member of HANDS (Human Assistance Network for Daily Support, telephone counseling services).

In 2003 he was the initiator of G4 (Global Gambling Guidance Group), which deals with an International Accreditation System on responsible gaming for the gambling, betting and lottery industry, both land-based and online. At present he is the Chair of the Board of G4.

Since 2009, he has served as a member of the Responsible Gaming Committee of IMGL (International Masters of Gaming Law).

He is also a member of the Spielerschutzkommission (Responsible Gaming Commission) of the Gauselmann /Merkur Group, Germany, a member of the Advisory Council of the AWI in Germany and until 2015 he was a member of the International Advisory Panel of the Ministry of Health in Singapore.

Robert Heller

President & CEO – Spectrum Gaming Capital

Robert Heller is co-founder and CEO of Spectrum Gaming Capital. He joined Spectrum from UBS Investment Bank where he was responsible for coordinating the bank’s gaming franchise globally. Previously, he was president of Heller Gaming & Leisure, a boutique investment banking and advisory firm specializing in casinos, hotels and resorts, operating since 2003. Prior to that, Heller spent 23 years in investment banking, having established and managed teams as a Managing Director of Lehman Brothers and Bear Stearns, and at Salomon Brothers.

In his work at UBS, domestically, Heller arranged transactions for MGM Resorts, Las Vegas Sands, Wynn Resorts, Penn National, Pinnacle Entertainment, Tropicana Entertainment, Boyd Gaming, Mohegan Sun and others. Internationally, he worked on transactions in Macau, the Philippines, Mexico and India. Other prior prominent clients in gaming, lodging and leisure included Harrah’s Entertainment, Starwood Hotels & Resorts, Stations Casinos, IGT and Vail Resorts. Notable past transactions include the merger of Penn National and Hollywood Casino Corp., the sale of Caesars World Resorts, construction financing for the Borgata, the initial public offering for Vail Resorts, development financings for Mohegan Sun and Isle of Capri, the sales of Breckenridge and Steamboat ski resorts, the first commercial paper offering for Foxwoods, and the first public project financing for a riverboat casino (Hollywood Casino in Aurora, IL). In his boutique, Heller performed restructuring advisory work for institutional investor clients including Harbinger Capital and the Committee of Independent Lenders to Station Casinos.

As part of his efforts at Heller Gaming & Leisure, from 2004 to 2006, Heller was founding President and CFO of Baha Mar Resorts, Ltd., owner of the Cable Beach Resort in Nassau, Bahamas, a 2,000 room, three-hotel, golf resort complex with the Caribbean’s second largest casino. Baha Mar Resorts is currently constructing a $3bn redevelopment on its 1,000 acre assemblage. Heller coordinated the Baha Mar project at its onset including land assemblage, hotel acquisitions, operations, pre-development, arranged joint ventures, and raised almost $500 million in initial financings for the project.

Heller is a graduate of the City University of New York and began his career as a CPA with Price Waterhouse & Company. He is a frequent speaker at global industry events and has made presentations at gaming industry conferences throughout North America and in Europe, Asia and the Middle East. Heller is a former board member of the American Gaming Association, and has lectured at the NYU Real Estate Institute and at the Cornell Hotel School.

Shawn K. McCloud

Senior Associate Analyst

Shawn McCloud is a full-time faculty member with Fairleigh Dickinson University’s International School of Hospitality and Tourism Management and works with Spectrum as Senior Vice President of Analysis. He has more than two decades of extensive, and progressive, financial, marketing, and operations analysis in the casino gaming and hospitality industry.

McCloud has held various analytical roles throughout his career and his collective experiences span through all facets of gaming resort operations – covering all casino gaming, marketing, food & beverage, hotel/rooms, and all other general and administrative areas of organization – and his active involvement in operations has been performed at all levels – from front-line to executive/corporate levels – which gives him comprehensive knowledge, and a thorough understanding, of the full-circle of casino gaming and hospitality industry operations.

McCloud has extensive experience in customer database analytics; evaluation and formulation of database marketing programs, promotional offers, and marketing campaigns; strategic marketing planning; competitive marketing analysis and research; creating and implementing performance goals and related benchmarking tools and standards; creation of yield management models and related reporting; financial and strategic planning; budgeting and forecasting models; planning, organizing, and preparation of operating and capital budgets; labor performance and payroll analysis; establishment of effective complimentary guidelines and related reporting; preparation of litigation support and valuation models; research and preparation of economic impact, feasibility, and market impact studies relating to a multitude of gaming operations and jurisdictions; along with the creation of a multitude of ad-hoc analyses, management tools, and presentations.

In the past, McCloud held the positions of Vice President of Strategic Planning and Analysis with The Cordish Company / Gomes+Cordish Gaming Management; Vice President of Analysis with Spectrum Gaming Group; Executive Director of Financial & Marketing Analysis with Tropicana Casino and Resort in Atlantic City; and also a variety of finance related and analytical roles with both the Tropicana and Trump Taj Mahal in Atlantic City.

McCloud completed his graduate studies at the International School of Hospitality and Tourism Management at Fairleigh Dickinson University earning an MS in Hospitality Management Studies and he holds a BA in Economics from The Richard Stockton College of New Jersey.

Steven M. Ingis

Vice President of Legal and Regulatory Services

Steven M. Ingis, Legal Advisor, is an attorney with 26 years of experience in casino gaming regulation. Prior to Spectrum, he was employed by the New Jersey Casino Control Commission from 1982 until his recent retirement in September, 2008. As Assistant General Counsel for the Commission, Ingis managed the Licensing Unit in the Office of the General Counsel, and was responsible for all casino employee and entity licensing matters.

During his tenure with the Commission, Ingis advised the agency in many of the Commission’s most notable licensing matters and represented the Commission in numerous court cases, including the recent denial of Tropicana Casino Hotel’s license renewal application. In this regard, he successfully argued the appeal from the Commission’s decision in the New Jersey Appellate Division.

For Spectrum, Ingis has been the lead attorney conducting license investigations and preparing the investigative reports in Maryland, Maine, Puerto Rico, and St. Lucia. He assisted in drafting the table games legislation in Delaware and testified regarding the regulation of casino gaming before legislative committees in New Hampshire and Pennsylvania.

Prior to joining the Casino Control Commission, Ingis served as an Assistant Morris County Prosecutor and a Deputy Attorney General in the New Jersey Division of Criminal Justice, in addition to being employed in private practice.

Ingis holds a BA in History with honors from Stony Brook and a law degree from New York University.

Wayne Marlin

Vice President, Director of Government Affairs

Wayne Marlin has wide-ranging casino regulatory, government affairs and business development experience in the public, not-for-profit and private sectors.

Marlin served as Legislative Liaison and Public Information Officer for the New Jersey Division of Gaming Enforcement. He coordinated New Jersey’s first major reform of the Casino Control Act as well as several other key casino regulatory legislative initiatives. Marlin also has extensive regulatory experience in Casino Operations, Audit and Internal Controls and Casino Licensing.

Marlin held several senior executive staff public policy development positions in New Jersey state government including Special Assistant to the Attorney General and Director of Legislative Policy for the Department of Labor and Workforce Development. He is responsible for the successful effort to establish a permanent funding mechanism for one of the state’s most prominent programs, the Workforce Development Partnership Program.

At Spectrum, Marlin serves as Director of Government Affairs and Associate Regulatory Editor of Spectrum’s National Gaming-Regulatory Digest, a Gaming Industry Observer premium subscription publication.

Marlin graduated from the University of New Mexico with a BA degree in Political Science.

William Egan

Senior Lottery Associate

Bill Egan has over 10 years of experience in the Lottery and Gaming Industry. He spent the last five years as the General Counsel for the Massachusetts State Lottery Commission. His experience touches on numerous areas, including, but not limited to, technology, game and concept development, marketing and sales trends, finance, compliance and strategic planning. Egan holds a J.D. with honors from Suffolk University Law School and a B.A. from Bridgewater State University.

His experience extends well beyond the legal underpinnings of the Lottery and Gaming Industry. Egan played a strategic role in maintaining the Massachusetts Lottery’s portfolio of products as well as devise sales strategies around new products and new games. He was effective in moving one of the most successful Lotteries in the country towards its next iteration by establishing the structure to constant upgrade of its technology in a changing legal landscape. In doing so, he assisted the Massachusetts Lottery in modifying its already successful business model while complying with state procurement laws, bonding requirements and intellectual property restrictions. During Egan’s tenure as General Counsel, the Massachusetts Lottery enjoyed five consecutive record breaking years in either gross sales or profits. In FY 2015, the Massachusetts Lottery topped the $5 billion mark in gross sales for the first time in its history.

Egan was also a member of Massachusetts Treasurer’s Online Task Force. He was responsible for identifying all legal and operational issues related to gaming on multiple platforms. He also has experience in the game development and marketing where advised the client on both legal and business strategy.

Egan believes the Lottery and Gaming Industry is on the verge of significant change based on changes in technology, changes in the legal environment and changing consumer patterns. He feels his wide-ranging experience in the industry make him uniquely qualified to advise clients on ways to evolve its business practices to remain relevant in the industry.