Caesars Entertainment Corporation has announced Tony Rodio as its new Chief Executive Officer.
Rodio, currently CEO of Affinity Gaming, will transition to Caesars within the next 30 days, the company said in a Tuesday release.
“Tony brings to Caesars a track record of operational excellence, proven leadership and deep industry knowledge and expertise,” said Caesars Chairman James Hunt.
“Tony is a respected and highly accomplished executive who has successfully built and grown businesses in our industry throughout his career. We are confident that Tony has the vision and depth of operating experience to lead our talented senior management team as Caesars continues its long history of delighting our guests, fostering a welcoming and rewarding workplace for our team members and creating value for shareholders and other stakeholders.”
The appointment of Rodio, who will replace outgoing boss Mark Frissora, is said to be at the behest of businessman Carl Icahn, who has aggressively acquired a 28.5% stake in Caesars since the start of the year. Icahn has also expressed a desire to either sell or merge the company as it looks to overcome significant debt.
With that in mind, Caesars also announced on Tuesday the creation of a Transaction Committee “to oversee the company’s evaluation of ongoing efforts in creating additional shareholder value.”
Although Caesars said that options included continuing to operate as an independent public company, it added that the decision to form the committee “follows inquiries from industry participants concerning possible transactions with Caesars.”
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