LAS VEGAS (AP) — Caesars Entertainment is appointing a gambling-industry veteran as its new chief executive.
The casino giant named Tony Rodio as CEO Tuesday. He’ll replace Mark Frissora, who guided the company through bankruptcy reorganization after joining Caesars in 2015.
The change in leadership comes two months after billionaire investor Carl Icahn disclosed a large stake in the casino and began pushing for fundamental changes.
Caesars, 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.
Its stock has fallen 16% over the past 12 months. Rivals MGM Resorts International and Wynn Resorts have fallen further, however.