American casino giant Caesars Entertainment Corporation has announced the hiring of two senior executives in Marco Roca and Michael Daly to help lead the firm’s growth and value-creation strategies.
Las Vegas-based Caesars Entertainment Corporation revealed that Roca is joining its ranks as Global Development President and is to subsequently report directly to its President and Chief Executive Officer Mark Frissora. Most recently Executive Vice-President and Chief Development Officer for Hard Rock International, the latest team member has previously held senior development roles at Starwood Hotels and Resorts Worldwide Incorporated, Realogy Holdings Corporation and Wyndham Worldwide Corporation while his career has so far involved the completion of more than 1,500 development projects around the world.
Caesars Entertainment Corporation declared that Roca has “more than 30 years of hotel and gaming development experience” and he is now set to oversee all of its domestic and international development activities including “the pursuit and execution of new markets as well as new projects within the company’s existing property footprint”.
“Caesars Entertainment Corporation 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,” read a statement from Roca. “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.”
For his part, former GE Capital executive Daly has been appointed as Caesars Entertainment Corporation’s new Strategy, Mergers and Acquisitions Senior Vice-President and will be responsible for defining and executing its corporate growth strategies including mergers, acquisitions, joint ventures and strategic alliances under the direction of its Chief Financial Officer Eric Hession.
“The gaming entertainment industry is evolving and Caesars Entertainment Corporation is now poised to expand in both the core gaming and hospitality business as well as into adjacent businesses,” read a statement from Daly. “I look forward to joining a talented and experienced team to help advance this growth agenda.”
Caesars Entertainment Corporation stated that both appointments will be subject to the “customary gaming regulatory approvals” and follow two years of “strong performance” that has seen “improving revenue growth across the enterprise” along with an over 800 basis point swell in its adjusted earnings before interest, tax, depreciation and amortization margin.
“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,” read a statement from Frissora. “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 Corporation unlock new growth channels.”