Caesars Officially Has New CEO

Caesars Entertainment Corp., which has control over the World Series of Poker, officially has a new CEO. Longtime CEO Gary Loveman has been replaced by Mark Frissora, formerly CEO of Hertz Global Holdings, Inc. and Tenneco, Inc.

Loveman announced earlier this year he was stepping down as CEO. He will remain chairman. Loveman was CEO when Caesars acquired the WSOP from Binion’s in 2004.

“Since joining the company in February, I have visited most of our domestic properties, met with all of the company’s senior leaders and focused my attention on identifying new opportunities to drive growth and efficiency, which will ultimately create shareholder value,” Frissora said in a statement.

“I am excited about the opportunities ahead and to become part of such a dynamic company and industry. Caesars has a diverse collection of assets, a highly engaged management team and employee base and strong loyalty among its customers. I 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.”

Caesars is currently working through a complicated Chapter 11 bankruptcy process.

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