2 executives appointed to Caesars board from Carl Icahn’s businesses
Caesars Entertainment Inc. has recently made significant changes to its board of directors by appointing two new independent directors linked to Carl Icahn’s businesses. Jesse Lynch, who serves as the general counsel of Icahn Enterprises LP and the chief operating officer of Icahn Capital LP, along with Ted Papapostolou, the chief financial officer of Icahn Enterprises, will be joining the board pending regulatory approvals.
Carl Icahn, a prominent American businessman and investor with a substantial stake in Caesars, expressed his admiration for the company’s CEO, Tom Reeg, and the senior management team for their accomplishments since the 2020 merger. He emphasized the importance of maximizing value for all shareholders by exploring strategic possibilities for Caesars’ digital business. Following the announcement of these new appointments, Caesars’ shares on the Nasdaq exchange surged by 2% in after-hours trading.
With the addition of Lynch and Papapostolou, the Caesars board now comprises 12 directors, 10 of whom are independent. Notable members include former Las Vegas Mayor Jan Jones Blackhurst, former American Gaming Association President and CEO Frank Fahrenkopf, and corporate executives Reeg and Gary Carano. Caesars, known for its significant presence on the Strip and ownership of popular brands like Caesars, Harrah’s, Horseshoe, and Eldorado, has recently unveiled plans to renovate The Cromwell into the Vanderpump Hotel, named after reality TV personality Lisa Vanderpump.
This year, Caesars launched its first online casino live dealer studio in Pennsylvania through a collaboration with Evolution Gaming. The company holds licenses for online gaming in Michigan, New Jersey, West Virginia, Ontario (Canada), and Pennsylvania. These developments signify Caesars’ commitment to expanding its digital presence and enhancing its offerings to cater to a broader audience.
The appointment of Lynch and Papapostolou reflects Caesars’ strategic approach to leverage the expertise and insights of industry professionals associated with Carl Icahn’s business interests. Their addition to the board is expected to bring fresh perspectives and contribute to navigating the company through its next phase of growth and innovation.
As Caesars continues to evolve and adapt to the changing landscape of the gaming industry, the involvement of seasoned professionals like Lynch and Papapostolou underscores the company’s dedication to excellence and shareholder value. With a renewed focus on enhancing its digital capabilities and exploring strategic opportunities, Caesars is poised to drive sustained growth and success in the competitive gaming market.
For further updates and insights on Caesars Entertainment’s developments and the gaming industry, readers can reach out to Richard N. Velotta at rvelotta@reviewjournal.com or 702-477-3893. Follow @RickVelotta on X for the latest news and updates.
