One thing is sure, Carl Icahn, the ex-owner of Tropicana Casino sure is making the headlines nowadays. Indeed, in recent news, we’ve learned that he’s now officially a member of the board. And now the corporate billionaire is working with Caesars Entertainment to find a new CEO to replace Mark Frissora. Unfortunately, whoever takes over as the next chief executive will inherit the casino’s $9.1 Billion debt. However, Frissora’s successor will have a unique opportunity to lead the company out of this financial hole. After all, Caesars has a lot of exciting things going on this year!
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New times ahead for Caesars
According to the rumours, Icahn nominated Affinity Gaming CEO Anthony Rodio as the next one to lead Caesars into the future. Icahn and Rodio previously worked together back when the executive was the boss at Tropicana. But, it’s not clear at this time if Caesars will accept Icahn’s proposal, although his opinion holds weight with the operator. At the same time, Rodio isn’t the only candidate that the company is looking at.
According to Frissora, the opportunity to lead Caesars Casino is so big that it’s attracting a good talent pool. He also said the board wants somebody who has experience in the hospitality field, not just in the gaming industry. This news comes at a time when the future status of the casino remains uncertain. Not to mention, Icahn, who has a 9.8% stake in Caesars is pushing for a sale. So who knows what he has up his sleeve?
Looking for Mr Right
As the hunt for a new CEO continues, Frissora seems to know exactly what the type of person the NJ casino is looking for. In a recent interview, he said, “The board wants to see someone who’s a seasoned leader. They want someone who’s managed through difficult times and adversity.” Yes, Rodio has a good track record at Tropicana, although his relationship with Icahn might cause him to be overlooked. After all, Mr Icahn has a rep for being a smooth trickster, and his pick might not be what’s best for Caesars in the long term.