Nevada Resort Association

The plan is governed by a board of trustees drawn from both union and employer representatives. Named board officers include Chairman John Maddox of Caesars Entertainment, Vice Chairman Michael Britt of Red Rock Resorts, and Treasurer Paul Anderson of Boyd Gaming. Day-to-day executive leadership falls to Virginia Valentine, who serves as President and CEO of the Nevada Resort Association. The specific investment committee structure and any retained outside investment consultants are not publicly detailed.

It is a Taft-Hartley multi-employer pension fund — a defined-benefit plan covering members of IATSE Local 720, the union for stagehands and craftspeople working in Nevada's major resort casinos. It is not a family office. It pools contributions from multiple employers including Caesars Entertainment, Wynn Resorts, and MGM Resorts International under collective bargaining agreements, with joint union-management trusteeship.

The strategy tags indicate participation across both fund-of-funds structures and direct transactions, including buyout, venture capital, distressed debt, and secondaries. This suggests a hybrid approach where the plan can commit as a limited partner to external funds and also pursue direct co-investments or special situations, though the specific allocation split between the two is not publicly disclosed.

The Association functions as the plan sponsor and administrative vehicle through which contributions flow from the contributing employers — Caesars, Wynn, MGM, Boyd Gaming, and Red Rock Resorts — into the IATSE Local 720 Retirement Plan. These employers are not owners of the plan; they are obligated contributors under labor agreements. The board includes senior executives from these companies serving in a fiduciary capacity alongside union trustees.

The Nevada Resort Association Political Action Committee is a separate entity from the retirement plan and disability trust. The PAC engages in political and advocacy activities related to Nevada's resort and gaming industry, while the retirement plan is a regulated ERISA vehicle focused exclusively on providing benefits to IATSE Local 720 members and their beneficiaries. They share common association sponsorship but operate under distinct governance and legal frameworks.

Alongside the retirement plan, the Association maintains a Wage Disability Trust that provides income replacement for covered Local 720 members who become disabled and unable to work. Both trusts are domiciled in Las Vegas and draw from the same contributing employer base under IATSE collective bargaining agreements. The disability trust represents a separate pool of assets with its own benefit obligations distinct from the retirement plan.

Funding comes from employer contributions negotiated under collective bargaining agreements between IATSE Local 720 and the major Nevada resort operators. Confirmed contributing employers include Caesars Entertainment, Wynn Resorts, and MGM Resorts International. Contribution rates are set through the labor contract process and flow into the multi-employer trust, insulating the plan from the financial performance of any single contributing employer.