Company: Caesars Entertainment Corporation
Family Name: Frissora
Given Name: Mark
Role: Former President & CEO
Profile: Frissora’s background is as a business executive, though not specifically in the gaming industry until his appointment to the helm of Caesars in 2015. Previously he led Tenneco and then Hertz Global Holdings. He was one of the only IR company CEOs with previous experience forming business partnerships with Japanese companies. Frissora was replaced as President and CEO in April 2019 and left the company.
Caesars Entertainment built up one of the strongest ground games among the international operators campaigning for an IR license, but instability at the parent company in Las Vegas undermined the local team’s efforts, and has now caused the company to become the first major IR operator to pull out of the Japanese market.
Caesars Entertainment has named Anthony Rodio as its new CEO to replace outgoing Mark Frissora, according multiple news reports in the United States.
Caesars Entertainment agreed last week to allow investor Carl Icahn to appoint three directors to its company board, indicating that a substantial change of policy direction is in the offing as Mark Frissora steps down at the end of April.
The release of unexpectedly positive financial results on February 21 did nothing to calm speculation around the future of Caesars Entertainment, as the company’s single-largest shareholder, Canyon Partners, joined investor Carl Icahn and others in calling for the company to be sold.
The future direction of Caesars Entertainment became even less clear after it was reported by the Wall Street Journal that Carl Icahn, who holds a roughly 10% stake in the company, is urging Caesars to sell itself, showing his lack of confidence in the current leadership.
US casino operator Caesars Entertainment has entered into an agreement with outgoing CEO Mark Frissora to delay his resignation date to April 30, 2019.
On January 3, Caesars Entertainment and the National Football League (NFL) announced a multidimensional partnership. Like the recent partnership between MGM Resorts and Major League Baseball, this represents an industry response to the May 2018 US Supreme Court decision that legalized sports betting throughout the country.
All four Las Vegas-based operators which are in the hunt for an IR license in Japan reported strong financial results in the July-September period.
Caesars Entertainment Corporation’s President and Chief Executive Officer Mark Frissora has announced his resignation from the company, with effect from February 8, 2019. Over the next few months, Caesars says it will be working with a nationally recognized search firm to identify Frissora’s successor.
Canadian pop singer Celine Dion performed a sold out, two-hour show in Tokyo on June 26, her first appearance in Japan in about a dozen years, as part of Caesars Entertainment’s campaign to win one of the three IR licenses that will be up for grabs after the expected passage of the IR Implementation Bill next month.
Caesars Entertainment Corporation has announced plans to license its Caesars Palace, Flamingo, The Cromwell, and The LINQ brand in overseas destinations.
Caesars Entertainment is counting on its MICE and entertainment experience to carry off the prize of a casino license in Japan, says William Shen, the company’s managing director for Japan and South Korea.
Las Vegas-based Caesars Entertainment Corp. saw first quarter net revenue more than double in 2018Q1 compared to the prior year, reaching US$1.97 billion.
As Caesars Entertainment president and CEO Mark Frissora tours Japan this week, company executives are meeting with local officials and the media, as well as announcing a whole host of new developments that clearly puts Caesars among the front rank of international IR operators seeking a license in Japan.