Caesars Entertainment Corporation, parent company of three Atlantic City casino properties, named former Tropicana Entertainment head Anthony Rodio its new CEO Tuesday.
Rodio, 60, will transition into the new role over the next 30 days, taking over for outgoing CEO Mark Frissora who joined Caesars in 2015 in the midst of the company’s bankruptcy.
"Having collaborated with Tony for decades as both a colleague at Harrah's Entertainment and as leaders of different gaming companies to help position Atlantic City as a top gaming destination, I’m confident that Tony’s extensive industry experience will lead Caesars Entertainment through the next phase of growth and development," said Kevin Ortzman, regional president for Caesars Entertainment, in a statement. "We are thrilled to welcome Tony to our company."
Rodio, a veteran gaming executive, led Tropicana from 2012 to 2018, serving as president and CEO. Under Rodio, Tropicana went from a property struggling during a downtime in the industry to the second-highest revenue producing casino in the market.
“Tony brings to Caesars a track record of operational excellence, proven leadership and deep industry knowledge and expertise,” said James Hunt, chairman of Caesars’ Board.
Rodio is currently the CEO of Affinity Gaming, a position he accepted shortly after Tropicana Entertainment was sold to Eldorado Resorts in 2018.
The change in leadership at Caesars comes two months after billionaire investor Carl Icahn disclosed a large stake in the casino company and began pushing for fundamental changes.
Icahn owned Tropicana Entertainment during the six years Rodio was the president and CEO. Icahn finalized a controlling interest in Tropicana in 2010 when it was battling bankruptcy.
The company, which operates more than 35 casinos in the U.S., emerged from bankruptcy protection in late 2017, but it’s been struggling since. A committee is being put into place to consider a sale, among other things.
Rodio has worked in gaming for almost four decades, and his ties to Atlantic City date to 1980.
He was a member of the team that opened Trump Taj Mahal Casino Resort in 1990.
Rodio has held executive positions at Harrah’s Entertainment, Resorts International, Trump Marina Hotel Casino, the Atlantic City Hilton Casino Resort and Penn Gaming.
Caesars Entertainment operates Bally’s, Caesars and Harrah’s Resort in Atlantic City.
The Associated Press contributed to this report.