Carl Icahn has gotten his pick for Caesars Entertainment’s new CEO, industry veteran Tony Rodio. But how long Rodio will keep the job could be another matter entirely, with two potential buyers currently poring over the gaming giant’s books and possibly more to follow.
The change in leadership was not unexpected. Neither was the choice.
With Caesars’ share price (Nasdaq: CZR) swooning through most of 2018, Chief Executive Mark Frissora tendered his resignation in November. But no replacement was immediately found, and when his contract expired in February, he agreed to stay on until the end of this month. That the replacement would be Rodio was a foregone conclusion once Icahn had amassed a controlling equity stake earlier this year
