• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Caesars CEO Mark Frissora to step down in February

Nov 02, 2018 Newsdesk Latest News, Top of the deck, World  


Caesars CEO Mark Frissora to step down in February

Caesars Entertainment Corp chief executive Mark Frissora (pictured) is to step down from his role at the company on February 8 next year, the firm announced in a statement on Thursday, the same day it reported third quarter earnings.

Mr Frissora, 62, was named president and CEO of Caesars Entertainment in July 2015, helping to guide the Las Vegas-based casino operator through a lengthy bankruptcy reorganisation, completed last year.

“The board of directors thanks Mark for his instrumental role in leading the company through a challenging period and setting Caesars on a course for sustained, long-term growth and value creation,” said Jim Hunt, the company’s chairman, in a prepared statement.

The company said four of its board directors and the chairman “will work with a nationally recognised search firm to identify Mr Frissora’s successor”.

Commenting on his planned departure, Mr Frissora said he was “confident” that the company was well positioned “to thrive and grow in the future”.

He added: “I am committed to maintaining stability and operating discipline during this transition.”

On the quarterly earnings call on Thursday, Mr Frissora did not answer questions about his departure.

On Thursday, Caesars Entertainment reported third quarter net revenues of nearly US$2.19 billion, up 2.9 percent from the prior-year period. The company recorded net profit of US$110 million for the three months to September 30, reversing a net loss of US$433.1 million a year ago.

The casino operator also confirmed having received a proposal from privately-held Golden Nugget LLC – controlled by billionaire Tilman Fertitta – for a reverse merger that would have included Caesars Entertainment absorbing Golden Nugget and Mr Fertitta taking over as the company’s CEO.

Caesars Entertainment said in a statement it rejected the offer, as it was “not consistent with the company’s plans to create and enhance shareholder value over the long term”.

The U.S. casino operator has plans to expand in Asia, where it is developing a casino resort near the Incheon International Airport in South Korea ahead of a 2021 launch. The company has also said it plans to bid for a gaming licence in Japan, hoping to build a large-scale casino resort in that country.


  • tweet
Related articles
  • Wakayama to hold 2 public hearings, 14 briefings on IR plan
    Wakayama to hold 2 public hearings, 14...

    Feb 21, 2022  

  • Public comment on Wakayama IR plan now open until Mar 10
    Public comment on Wakayama IR plan now...

    Feb 10, 2022  

More news
  • Macau resuming tourism promotion on Chinese mainland
    Macau resuming tourism promotion on...

    Aug 19, 2022  

  • SOFTSWISS Game Aggregator deal on Vibra Gaming content
    SOFTSWISS Game Aggregator deal on Vibra...

    Aug 19, 2022  


Latest News

Macau resuming tourism promotion on Chinese mainland

Macau resuming tourism promotion on Chinese mainland

Aug 19, 2022  

Macao Government Tourism Office (MGTO) said on Friday that it is resuming promotion of Macau as a travel destination, targeting mainland Chinese consumers. Its new campaign starts this month and runs...
Read More
SOFTSWISS Game Aggregator deal on Vibra Gaming content

SOFTSWISS Game Aggregator deal on Vibra Gaming content

Aug 19, 2022  

Ambrose So, CEO of Macau op SJM cuts stake for US$11mln

Ambrose So, CEO of Macau op SJM cuts stake for US$11mln

Aug 19, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

“The key focus is digging ourselves, together with the other five operators, out of hole that Macau has been in for the last three years”

Lawrence Ho Yau Lung

Chairman of casino operator Melco Resorts



Most Popular

  • China restates action on overseas-bet fugitivesChina restates action on overseas-bet fugitives August 17, 2022
  • David Chow exits board of casino services biz Macau LegendDavid Chow exits board of casino services biz Macau Legend August 17, 2022
  • Singapore’s Gambling Regulatory Authority inauguratedSingapore’s Gambling Regulatory Authority inaugurated August 16, 2022
  • Galaxy Ent 2Q EBITDA dips 41pct sequentially, 1H lossGalaxy Ent 2Q EBITDA dips 41pct sequentially, 1H loss August 18, 2022
  • Studio City Phase 2 opening 2Q23, in stages: Lawrence HoStudio City Phase 2 opening 2Q23, in stages: Lawrence Ho August 19, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us