Caesars Entertainment Makes Sweeping Cuts of Executive Ranks

Article by : Erik Gibbs Jan 9, 2024

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In a corporate-wide consolidation, Caesars Entertainment has terminated several executives from its high-level entertainment team. Sources familiar with these changes have confirmed the departure of the industry professionals.

On Tuesday, as Amy Graca assumed her role as Senior Vice President of Entertainment at Caesars, up to 10 professionals exited the company. These departures closely followed the conclusion of Jason Gastwirth’s 13-year tenure with Caesars, who ended his term as President of Entertainment on New Year’s Eve.

The list includes Vice President of Corporate Entertainment Chris Yancey, Vice President of Entertainment and Attraction Marketing Amy Naples, Vice President of Brand Alliances and Sponsorship Mark Weinstein and Entertainment Office Manager Jessica Tindor.

The list also includes Regional Vice President of Entertainment Programming and Analytics Mike Hodin, and Director of Venue Operations Paul Shlisky, among others.

On Tuesday, as Amy Graca assumed her role as Senior Vice President of Entertainment at Caesars, up to 10 professionals exited the company. These departures closely followed the conclusion of Jason Gastwirth’s 13-year tenure with Caesars, who ended his term as President of Entertainment on New Year’s Eve.

The reorganization of the entertainment division falls within the broader restructuring of the corporate framework. Graca now holds the highest-ranking entertainment position within the company, although there isn’t a specific role overseeing the Las Vegas properties.

Caesars Entertainment continues to emphasize its focus on headlining acts. The company currently has exclusive booking partnerships with Live Nation for venues such as the Bakkt Theater at Planet Hollywood.

These venues feature recent performances by Kelly Clarkson over the New Year’s Eve weekend and upcoming shows by Miranda Lambert in March. Additionally, the Colosseum at Caesars Palace hosts superstar performers like Adele, Garth Brooks and Jerry Seinfeld.

The recent changes in leadership at Caesars are not unexpected. Following Eldorado Resorts’ acquisition of Harrah’s operator for $17.3 billion in July 2020, the management team of the acquiring company assumed control of the newly formed Caesars.

Although it’s unclear if the mentioned departures are directly linked to the Eldorado takeover, the appointment of Eldorado’s CEO, Tom Reeg, as the head of Caesars hinted at impending cost-cutting measures and potential restructuring.

One of the challenges facing Reeg and his team was the integration of two distinct corporate cultures, a common challenge in large mergers and acquisitions across various industries.

Under Reeg’s leadership, Eldorado Resorts gained a reputation for allowing managers autonomy in running individual properties while also emphasizing stringent cost-efficiency measures.