Caesars hires new execs to boost non-gaming expansion

Casino operator Caesars Entertainment has made a couple key hires to boost the company’s plans to diversify its operations beyond gaming.

On Thursday, Caesars announced the hiring of former Hard Rock International executive VP Marco Roca as its new President, Global Development. Caesars also appointed GE Capital exec Michael Daly as its new senior VP of Strategy and M&A.

Caesars CEO Mark Frissora said the appointments were designed to “unlock new growth channels” that won’t necessarily include gaming operations as part of Caesars’ domestic and international expansion initiatives.

Caesars is still trying to extricate itself from the messy restructuring of its main unit, which filed for Chapter 11 bankruptcy protection in January 2015. The process, which requires the approval of regulators in every state in which Caesars operates, involved prolonged court fights with junior creditors who proved unwilling to accept Caesars’ lowball offers of pennies on the dollar and forced Caesars to sell its social gaming division – one of the company’s few profit-makers – to meet creditor demands.