Caesars Entertainment confirms new CEO
Mark Frissora takes over from incumbent Gary Loveman who joins the casino giantâs board of directors
Caesars Entertainment Corp today formally announced Mark Frissora as its new chief executive, five months after he was named CEO designate following the departure of incumbent Gary Loveman. [private]
Frissora joined the casino giant in February from car rental giant Hertz, with the management transition getting underway at the end of the first quarter.
The new chief exec said he had spent the past few months visiting Caesarsâ domestic properties and meeting with the companyâs senior execs to âidentify new opportunities to drive growth and efficiencyâ.
âI am excited about the opportunities ahead and to become part of such a dynamic company and industry,â Frissora said.
âCaesars has a diverse collection of assets, a highly engaged management team and employee base and strong loyalty among its customers.
âI am working with the leadership team and the board to formulate a multi-year growth strategy for the company that spans our footprint in Las Vegas and other markets,â he added.
Loveman will join Caesarsâ board of directors and will continue to oversee the restructuring of the company, which has debts of around $18bn.
During his tenure Loveman oversaw the operatorâs move into the online sector, including the launch of its WSOP.com brand in Nevada and New Jersey alongside Caesars Interactive CEO Mitch Garber.