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Money Man

By Michael Vanaskie   Thu, Sep 22, 2016

Money Man

Often in business, a well-rounded background and diverse experience provide a solid foundation for achievement. Felix Danciu is a prime example of someone able to leverage his competency in diverse industries to help realize additional success in the gaming sector.

Danciu, who currently serves as the chief executive officer of Elmcore Group—a private investment firm headquartered in Las Vegas—did not have a direct path into gaming. Upon graduating from Cornell, Danciu began his professional career in investment banking. Since then, his career has remained primarily focused within finance.

Danciu has nearly two decades in M&A and private equity—specializing in leveraged buyouts and corporate finance with extensive experience in international transactions. On top of this, Danciu has been a corporate executive in a multitude of industries including technology, manufacturing and consumer products. With such a diverse and distinguished background, it is clear that Danciu had a solid foundation for success within the gaming industry.

While Danciu’s transition to the gaming industry may appear to have happened by chance, it was more probable than one might think.

“I grew up in Las Vegas, and was surrounded by the gaming industry,” says Danciu. “It was inevitable that I would get into gaming one day.” Working in the gaming industry was, as Danciu puts it, “part of a natural evolution of my career.”

Danciu’s breakthrough in the gaming industry came from his work with NYX Gaming Group. As part of his work with the company, Danciu consulted on their operations, served as interim chief financial officer, and acted as a strategic adviser for the company’s initial public offering on the TSX Venture Exchange. Danciu credits NYX Gaming Group’s chief executive officer, Matt Davey, for giving him the opportunity to work with the company as well as providing unique insights on the industry.

“Matt Davey taught me the nuances of the industry,” says Danciu. “I was really an outsider, and feel like I still may be.”

Being an outsider, however, is not a hurdle in all instances. “With my experience outside of gaming, I was able to bring fresh ideas to tackle gaming-related problems,” explains Danciu.

In a sense, Danciu had to reconsider his usual approach, while pulling from past experiences to match his potential to the many opportunities within the gaming industry. His advice for young leaders draws from his own experience.

“Don’t be afraid to reinvent yourself,” says Danciu. “Take initiative through self-study and calculated risks, and broaden your knowledge base to stay ahead of the competitive environment.”

Danciu also stresses the benefits of having a strong professional network. “Surround yourself with good people. Any success in this industry will be through a team effort.”

By Michael Vanaskie

Michael Vanaskie, The Innovation Group

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