James A. Barrett Jr. Mr. Barrett’s career has emphasized financial planning, capital formation and entrepreneurial business development and operation. His work has been primarily in the Design & Construction, Resort, Hospitality, Gaming and Real Estate industries, for both privately held and publicly traded entities.
The JABarrett Company, a Nevada based Financial Advisors firm, was formed in July 2011 to provide independent and objective financial and organizational guidance to private businesses and their owners. The offerings of The JABarrett Company include assessments, advisory services, risk management oversight, governance formation and operation consulting.
Capitalizing on Mr. Barrett’s experience and relationships the company also provides specific project assistance in the modeling, acquisition, development, operation, financing and sale of real estate.
While responsible for the services provided by The JABarrett Company, Mr. Barrett also personally serves as an independent advisory and fiduciary board member for a variety of companies. In these positions he provides industry based, strategically oriented oversight and guidance for the short and long-term benefit of shareholders and management.
From 1985, until his retirement in July 2011, Mr. Barrett served as the senior financial executive and a member of the Board of Directors of Marnell Companies. The Marnell Companies consists of a number of successful business units involved in planning, architecture, construction, real estate development and various investment activities. Combined revenues averaged $500 million through fiscal 2010. Mr. Barrett’s responsibilities included real estate development, treasury management, capital and operational budgeting, financial reporting, forecasting, credit and bonding relationships, risk management and tax planning.
Among the companies was Marnell Corrao Associates, the inaugural Design Build firm for Hotel Casinos in the United States. Formed in the early 1970’s, Marnell Corrao Associates designed and built over $12 billion of hotel casino related properties. Marnell Architecture, the architectural business unit, has been responsible for the signature design of many hotel casino resort properties throughout the United States, such as Bellagio, Caesars, Rio, Mirage, Borgata and The M Resort. The real estate development arm, Marnell Properties, developed and operated, from 1999 to 2010 in excess of $300.0 million of income producing properties covering over 1.0 million square feet, and marketed and sold various portfolio properties resulting in proceeds in excess of $100 million. Additional business units include Consulting, Transportation and Insurance.
Also with the Marnell Companies, Mr. Barrett was Manager of Austi, LLC, the private investment firm of the Marnell Family, a Manager of The M Resort LLC, and Marnell Sher Gaming, LLC, Marnell Family gaming investment entities and CFO, Board Member of TRIRIGA, a software development, sales and service company. TRIRIGA was sold in April 2011 in an all cash transaction to IBM.
In addition to serving with the Marnell Companies, during the same time period, he was a co-founder in 1989 of the Rio Hotel & Casino, Inc., a New York Stock exchange listed company. He was President and a member of the Board of Directors until January 1999. This company conceived, developed, owned and operated in Las Vegas, Nevada, the Rio Suite Hotel & Casino, America’s first all-suite hotel casino.
The Rio Suite Hotel & Casino opened in January 1990 with 454 suites and, over a nine year period, grew to over 2,500 suites, 5,000 employees, 100,000 square feet of gaming space and a host of related entertainment amenities on a master planned 100-acre site. Among his responsibilities Mr. Barrett directed the land acquisition and associated capital raising for all Rio projects; through both debt and equity transactions. The property grew from a cash flow of $5 million to over $100 million for the year ending December 1998. In January of 1999, the company was acquired by Harrah’s Entertainment, Inc. in a transaction valued at $800 million. Mr. Barrett remained as a consultant through April 2000.
He has been licensed by the State of Nevada gaming and other state and federal gaming entities in various capacities from 1989 to the present. From 1973 to 1986, Mr. Barrett practiced public accounting as Managing Partner of Barrett & Smith CPA’s and as a partner in the firm of Chanslor, Barbieri & DeWhitt; both Nevada based firms serving clients in Reno and Las Vegas. Mr. Barrett remains a licensed Certified Public Accountant. He is a graduate from the University of Florida with a degree in accounting.
Additional Activities In addition to his business activities Mr. Barrett has dedicated a significant amount of time and resources to a variety of professional, civic and charitable organizations.
Member, Financial Executives International
Member, American Institute of Certified Public Accountants
Member, National Association of Corporate Directors
Advisory Board Member, US Bank-Nevada (USB-NYSE)
Advisory Board Member, The Kirlin Group, LLC, Mechanical Contractors, Rockville, Maryland (Privately Held)
Chairman of the Community Board, St. Rose Dominican Hospitals – Southern Nevada (a Dignity Health Hospital)
Chairman, Board of Trustees, Las Vegas Metro Chamber of Commerce
Member, Government Affairs Committee, Las Vegas Metro Chamber of Commerce
Member, Las Vegas Global Economic Alliance
Member, FBI Citizens Academy Alumni Association
Member, James Renwick Alliance, non-profit organization supporting the Renwick Gallery of the Smithsonian American Art Museum, Washington, D.C.
Education and Licensing:
BS, BA Accounting 1973 - University of Florida, Gainesville, FL
Certified Public Accountant, Nevada
Non-Restricted Gaming License in Nevada
Casino Gaming License in Michigan
Recognized as 2010 US Bank National Advisory Board Member of the Year.
Appointed to 2010-2011 Transition Team of Governor-Elect Brian Sandoval – Nevada.
Appointed to 2012-2013 City of Las Vegas, Nevada Scorecard Review Committee
Appointed to 2012-2013 Las Vegas, Nevada Regional Development Authority
Comprehensive Economic Development Strategy Steering Committee
Appointed to 2013-2014 Shared Services Committee, Cities of Las Vegas and North Las Vegas