LAS VEGAS, July 6, 2017 /PRNewswire/ -- Caesars
Entertainment Corporation (NASDAQ: CZR) ("Caesars Entertainment"),
the world's most diversified casino entertainment company, today
announced the appointment of two senior executives to help lead the
Company's growth and value creation strategy. Marco Roca will join Caesars Entertainment as
President, Global Development, reporting to President and Chief
Executive Officer Mark Frissora.
Michael Daly will join as Senior
Vice President, Strategy and M&A reporting to Eric Hession, Chief Financial Officer.
"We have great opportunities to accelerate our top line growth
by taking advantage of our significantly reduced balance sheet
leverage and strong free cash flow profile," Frissora said. "The
additions of Marco Roca and
Michael Daly will bring even more
focus to our domestic and international network expansion
initiatives, and help Caesars Entertainment unlock new growth
channels."
The appointments of Roca and Daly follow two years of strong
performance in which Caesars Entertainment has improved its
operating model, driving over 800 basis points of Adjusted EBITDA
margin expansion and improving revenue growth across the
enterprise. The completion of the Caesars Entertainment Operating
Company ("CEOC") restructuring, anticipated by the end of the third
quarter, will create additional opportunities for growth.
Both appointments are subject to customary gaming regulatory
approvals.
Marco Roca
Roca brings more than 30 years of hotel and gaming development
experience to Caesars Entertainment. He will oversee all domestic
and international development activity, including the pursuit and
execution of new markets as well as new projects within the
Company's existing property footprint.
Most recently, Roca served as Executive Vice President and Chief
Development Officer for Hard Rock International. Over the course of
his career, he has held senior development roles at Realogy,
Wyndham Worldwide, Starwood Hotels & Resorts Worldwide, among
others. He has completed more than 1,500 development projects
around the world over the course of his career.
"Caesars Entertainment has a portfolio of world-class brands, a
solid operating track record and a commitment to employees, guests
and communities that is unrivaled in the gaming entertainment
industry," Roca said. "I am excited to help lead the expansion of
the network to new markets around the world and to help increase
productivity of underutilized assets in priority markets, such as
Las Vegas."
Michael Daly
Daly joins Caesars Entertainment from GE Capital, where he was
responsible for Strategy, M&A and Corporate Development. He has
spent the last 15 years at GE and GE Capital in a variety of
strategy and finance roles. At Caesars Entertainment, Daly will be
responsible for defining and executing the Company's growth
strategies, including joint ventures, strategic alliances and
M&A.
"The gaming entertainment industry is evolving, and Caesars is
now poised to expand in both the core gaming and hospitality
business as well as into adjacent businesses," Daly said. "I look
forward to joining a talented and experienced team to help advance
this growth agenda."
About Caesars Entertainment Corporation
Caesars
Entertainment Corporation ("CEC") is the world's most
diversified casino-entertainment provider and the most
geographically diverse U.S. casino-entertainment company.
CEC is mainly comprised of the following three entities: the
majority owned operating subsidiary Caesars Entertainment
Operating Company, Inc. ("CEOC"), wholly owned CERP and
Caesars Growth Properties, LLC, in which we hold a variable
economic interest. Since its beginning in Reno, Nevada, 79 years ago, CEC has grown through
development of new resorts, expansions and acquisitions and its
portfolio of subsidiaries now operate 47 casinos in 13 U.S. states
and five countries. CEC's resorts operate primarily under the
Caesars®, Harrah's® and Horseshoe® brand names. CEC's portfolio
also includes the London Clubs International family of
casinos. CEC is focused on building loyalty and value with its
guests through a unique combination of great service, excellent
products, unsurpassed distribution, operational excellence and
technology leadership. CEC is committed to environmental
sustainability and energy conservation and recognizes the
importance of being a responsible steward of the environment. For
more information, please visit www.caesars.com.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/caesars-entertainment-appoints-senior-executives-to-lead-new-growth-initiatives-300483924.html
SOURCE Caesars Entertainment Corporation