aesars Entertainment has officially announced that its Board of Directors named Anthony Rodio as Chief Executive Officer. He will join the company's and be based in Las Vegas.
Mr. Rodio has nearly four decades of experience in the gaming industry. Since October 2018, Mr. Rodio served as Chief Executive Officer of Affinity Gaming. Prior to this, he served as President, Chief Executive Officer and a member of the Board of Directors of Tropicana Entertainment, Inc. During his time at Tropicana, Mr. Rodio oversaw a period of unprecedented growth at the company, improving overall financial results with net revenue that increased more than 50% driven by both operational improvements and expansion across regional markets.
"Tony brings to Caesars a track record of operational excellence, proven leadership and deep industry knowledge and expertise," said James Hunt, Chairman of Caesars' Board. "Tony is a respected and highly accomplished executive who has successfully built and grown businesses in our industry throughout his career. We are confident that Tony has the vision and depth of operating experience to lead our talented senior management team as Caesars continues its long history of delighting our guests, fostering a welcoming and rewarding workplace for our team members and creating value for shareholders and other stakeholders. Our entire Board looks forward to his leadership in evaluating and executing the Company's go-forward plans."
"I have long admired Caesars and am optimistic about the company's future prospects. Our industry is going through a time of transition and opportunity and I look forward to leading Caesars' exceptional team through the Company's next phase of growth, innovation and value creation," Mr. Rodio commented.
Mr. Rodio led major capital projects including the complete renovation of Tropicana Atlantic City and Tropicana's move to land-based operations in Evansville, Indiana. Each of these initiatives, among others, generated substantial value for Tropicana. Prior to Tropicana, Mr. Rodio held a variety of roles at Hollywood Casino and Harrah's Entertainment.
The Board's Transaction Committee, composed of independent directors, will continue to consider and evaluate various paths for enhancing shareholder value, including continuing to operate as an independent public company. The Committee members are Thomas Benninger, Keith Cozza, Don Kornstein and Courtney Mather. The decision to form this Committee follows inquiries from industry participants concerning possible transactions with Caesars. PJT Partners LP is assisting the committee with this process. The Committee has not set a timetable for completion of its review