Caesars Entertainment Corporation (NASDAQ: CZR) today announced the appointment of two senior executives to help lead the Company's growth and value creation strategy. Marco Roca will join Caesars Entertainment as President, Global Development, reporting to President and Chief Executive Officer Mark Frissora. Michael Daly will join as Senior Vice President, Strategy and M&A reporting to Eric Hession, Chief Financial Officer.
"We have great opportunities to accelerate our top line growth by taking advantage of our significantly reduced balance sheet leverage and strong free cash flow profile," Frissora said. "The additions of Marco Roca and Michael Daly will bring even more focus to our domestic and international network expansion initiatives, and help Caesars Entertainment unlock new growth channels."
The appointments of Roca and Daly follow two years of strong performance in which Caesars Entertainment has improved its operating model, driving over 800 basis points of Adjusted EBITDA margin expansion and improving revenue growth across the enterprise. The completion of the Caesars Entertainment Operating Company ("CEOC") restructuring, anticipated by the end of the third quarter, will create additional opportunities for growth.
Both appointments are subject to customary gaming regulatory approvals.
Roca brings more than 30 years of hotel and gaming development experience to Caesars Entertainment. He will oversee all domestic and international development activity, including the pursuit and execution of new markets as well as new projects within the Company's existing property footprint.
Most recently, Roca served as Executive Vice President and Chief Development Officer for Hard Rock International. Over the course of his career, he has held senior development roles at Realogy, Wyndham Worldwide, Starwood Hotels & Resorts Worldwide, among others. He has completed more than 1,500 development projects around the world over the course of his career.
"Caesars Entertainment has a portfolio of world-class brands, a solid operating track record and a commitment to employees, guests and communities that is unrivaled in the gaming entertainment industry," Roca said. "I am excited to help lead the expansion of the network to new markets around the world and to help increase productivity of underutilized assets in priority markets, such as Las Vegas."
Daly joins Caesars Entertainment from GE Capital, where he was responsible for Strategy, M&A and Corporate Development. He has spent the last 15 years at GE and GE Capital in a variety of strategy and finance roles. At Caesars Entertainment, Daly will be responsible for defining and executing the Company's growth strategies, including joint ventures, strategic alliances and M&A.
"The gaming entertainment industry is evolving, and Caesars is now poised to expand in both the core gaming and hospitality business as well as into adjacent businesses," Daly said. "I look forward to joining a talented and experienced team to help advance this growth agenda."
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