On April 15th, Caesars Entertainment went forward with plans to announce the company’s new CEO. So as the wheel’s spin faster toward a Caesars sale, investor Carl Icahn once again proves he’s running the show. On Monday, the casino-hotel named Anthony Rodio as its new chief executive. Now if that name doesn’t ring a bell, then allow us the time to introduce to you Icahn’s right-hand man.
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Old Boss Move
If you remember, Icahn sold Tropicana Entertainment last year for $1.85 Billion. Well, during his ownership, Rodio was his right-hand man and served as the company CEO. So by all means, Rodio isn’t particularly a new kid on the block. In fact, he’s quite the opposite, Rodio is a veteran in this business. Considering Icahn personally hand-selected him, then you should automatically know that it has to do with Icahn setting up the Caesars mega-sale.
In other words, it’s all business, nothing personal. Rodio is simply Icahn’s yes-man, and he’s here to do a job. So as for the future status of Caesars goes, well, it’s kind of anyone’s guess at the moment. However, now that Mark Frissora is out and Rodio is in, Caesars is now setting up a board committee in efforts to create more shareholder value.
From the Outside Looking In
So as you can see, this is all about setting up a fast multi-billion-dollar deal that will benefit the New York investor, Carl Icahn. According to the company, the choice to form this committee follows inquiries from industry participants concerning possible transactions with Caesars.
With that said, it’s clear that this deal is gearing up to be a major one. Let’s just hope that it doesn’t turn out to be disastrous for all the wonderful staff members at Caesars. Also, let’s hope the future casino sale doesn’t negatively affect the progress in Atlantic City. Other than that, a Caesars sale might be a good thing.