Caesars Entertainment reports 1% revenue decline for 2024
An American hotel and casino entertainment company, Caesars Entertainment, reported its financial results for 2024, highlighting the 1% decline of $2.8 billion driven by Las...
Caesars appoints two new directors from Icahn Enterprises
Caesars Entertainment has announced the addition of two new members to its board of directors, both from Carl Icahn’s Icahn Enterprises.
Jesse Lynn, Icahn Enterprises’ general counsel, and Ted Papapostolou, the company’s chief financial officer, will now join Caesars’ board. With these additions, the casino giant’s board now consists of 12 members, 10 of whom are considered independent.
CEO Tom Reeg welcomed the new directors:
“I would like to welcome Jesse and Ted to the Board. Jesse and Ted bring diverse and relevant experience that will assist the Board in maximizing value for all shareholders.”
Earlier, Carl Icahn’s involvement in Caesars was increased. Known for his activist investor approach, Icahn seeks board seats and pushes for strategic changes that benefit shareholders.
Icahn expressed his respect for CEO Tom Reeg and the management team:
“I have great respect for Tom Reeg and the senior management team and what they have accomplished since the merger in 2020. We look forward to working with Tom and the Board to maximize value for all shareholders, including by exploring strategic alternatives for the Company’s underappreciated digital business.”
Caesars Digital faces challenges
Caesars’ digital sector, which includes iGaming and online sports betting, has been struggling to get the recognition it deserves in the market. Analysts believe that if Caesars separates or sells its online gaming unit, it could create more value for shareholders.
Caesars Virginia takes the crown with $28.5M in revenues
Caesars reports a good start to 2025 with more than $28.5 million in revenue during its first full month of operation of Caesars Virginia casino resort in Danville.
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