Michael Dunn – Chairman and CEO
Mr. Dunn has been named Chairman and CEO as of October 24th, 2016. He is a member of the Board of Directors, and previously served as Chief Executive Officer and Chairman of the Board of Directors from May 28, 2008 until April 17, 2015. He joined the Company, which was considered a turn-around project, in order to work on the reduction of significant Company debt, obtain major capital infusion, provide a rationalization of our product line, and establish a more effective product distribution. In the mid-1995 through 2006, Mr. Dunn started a company that generated a $60 million auto portfolio which later sold the paper to a subsidiary of General Motors. Mr. Dunn interfaced with the top CEO’s of automotive companies including Harold Poling, the former CEO and Chairman of Ford Motor Company, Bob Eaton, the former Chairman and CEO of Daimler Chrysler, Woody Morcott, Retired Chairman and CEO of Dana Corporation, Steven L Miller, former Chairman President and CEO of Shell Oil Company, as well as several other top automotive executives securing approximately $22.2 million in equity financing for the Company, plus an additional $20.8 million and $1.9 million in debt and lease financing, respectively. Mr. Dunn worked closely with Mr. Poling, who was the largest investor and shareholder, to manage strategic partnerships with large corporate partners and lenders such as J.P. Morgan Chase, Wachovia, Bank of America, Manheim, Allstate, Warrantech, as well as many other banks and strategic partners for funding loans for auto dealers. Mr. Dunn worked closely with Mr. Poling to successfully create, brand, develop and deploy a revolutionary auto-financing program for independent dealers, including signing a contract with Manheim, who is the owner of 86 auctions in the US (subsidiary Cox Enterprises), and floors over 17,000 independent dealers.
In 1992 to the end of the first quarter of 1995, Mr. Dunn, worked with investment bankers to raise the necessary funds to purchase Mountaineer Park in West Virginia. The park was one of the first racing facilities to pass gaming legislation for the expansion of video lottery and he was the major activist in receiving approval through the vote of the residents of Hancock County, West Virginia to expand gaming in a Bible Belt State. He coordinated the design and implementation of a $10 million renovation of the racetrack and put into service over 700 new video lottery machines. Mr. Dunn created large special events that drew over 10,000 people which dramatically enhanced the gaming handle for racetrack wagering, simulcast wagering and video lottery. Additionally, he negotiated with ESPN for nationally televised fights at the renovated facility. The park had over 450 employees and while Mr. Dunn was Chairman and CEO of the public company, he was instrumental in raising investor capital of approximately $17 million, plus an additional $17 million in construction loan and equipment lease financing.
Mr. Dunn has over 30 years of experience in developing, funding, and managing, of several public as well as private ventures in the retail, hotel, finance and gaming businesses.