Caesars Entertainment form ‘transaction committee,’ names new CEO

/ / News

Caesars Entertainment Corp. said Tuesday it formed a “transaction committee” to evaluate ways to enhance shareholder value, which could include continuing to operate as an independent company. The stock slipped 0.4% in premarket trade. The casino operator said it formed the committee, which consists of independent directors, following inquiries from industry participants regarding a possible transaction. Separately, Caesars names Anthony Rodio its new chief executive, succeeding Mark Frissora who announced in November that he was leaving. Rodio is currently CEO of Affinity Gaming, and will be transitioning to Caesars over the next 30 days. The stock has run up 38% year to date but has lost 17% over the past 12 months, while the S&P 500 has gained 16% this year and 8.5% the past year.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Lifetime Chatroom Membership