Gambling operator Caesars Entertainment Corporation announced that Mark Frissora assumed his post of President and Chief Executive Officer of the company on July 1. Back in February, it became clear that Mr. Frissora was to succeed Gary Loveman, who has been in charge of the operator for the past 17 years.
As President and CEO of the gambling company, Mr. Frissora is to report directly to its Board of Directors. He became Board member in February. As of July 1, Mr. Frissora also assumed the position of President and CEO of Caesars Enterprise Services and joined of the the entity’s Steering Committee.
As for Mr. Loveman, he would now serve as Chairman of Caesars Entertainment’s Board and it would be his responsibility to oversee Caesars Entertainment Operating Company’s restructuring.
Commenting on his appointment, Mr. Frissora said that he has managed to visit most of Caesars Entertainment’s domestic properties since he joined the operator in February. He also said that during that time, he has focused his attention on “identifying new opportunities to drive growth and efficiency”, which would eventually result in more value for shareholders.
Mr. Frissora is currently working with Board members and the company’s management team in order to prepare a growth strategy for all its properties in the United States as well as in other markets.
Caesars Entertainment’s new President and CEO has more than 38 years of business experience that covers different management levels and functional roles. Mr. Frissora has taken the position of Chairman and CEO of Hertz Global Holdings, Inc. and Tenneco, Inc. over the past fourteen years. Prior to that, he had taken various senior roles in different international companies.
Caesars Entertainment is one of the world’s largest gambling operators. At present, it is comprised of three main entities – Caesars Entertainment Operating Company, which filed for Chapter 11 bankruptcy protection on January 15, 2015, Caesars Entertainment Resort Properties, and Caesars Growth Partners, LLC.
The gambling operator manages 49 casino properties in the United States as well as in 5 other countries. Caesars Entertainment Resort Properties, and Caesars Growth Partners run 12 gambling facilities. Caesars Entertainment runs most of its properties under the Harrah’s, Horseshoe, and Caesars brands. The Caesars Entertainment UK family of casinos is also among the entities included in the Nevada-headquartered company’s portfolio.
