This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Caesars Entertainment Names Tom Arasi President Of Hospitality

LAS VEGAS, May 20, 2013 /PRNewswire/ -- Caesars Entertainment Corp. (Nasdaq: CZR), today announced the appointment of Tom Arasi as President of Hospitality. In the newly formed role, and subject to required regulatory approval, Arasi will be responsible for the execution of Caesars' hospitality strategy across the company's network of resorts.


"Our significant investments in our hospitality offerings and assets are a testament to our guests' increasing desire to have rich and diverse experiences when they visit us. In Las Vegas, our prime position at the center of the Strip positions us ideally to capitalize on these interests," said Gary Loveman, Chairman, President and Chief Executive Officer of Caesars Entertainment. "Tom's extensive experience in the hospitality, casino and real estate industries provides him with the ideal background to lead our efforts to adapt our business to deliver an array of hospitality offerings."

Caesars Entertainment is investing more than $1 billion in the development and enhancement of its hospitality offerings. The company is creating an integrated hospitality corridor at the center of the Las Vegas Strip compromised of innovative dining, entertainment and nightlife offering, anchored by the Linq and High Roller. Other projects include the renaming and renovation of The Quad, the Flamingo and the creation of Gansevoort Las Vegas in the former Bill's Gamblin' Hall and Saloon as well as planned room upgrades. These ongoing projects follow the opening of the Octavius Tower at Caesars Palace in 2012 and the Nobu Hotel earlier this year as well as other upgrades across the company's flagship property.

Arasi will be responsible for all initiatives related to food and beverage, hotels, nightclubs and nightlife, pools and spas. He will also be responsible for the development of a cohesive strategy for the hospitality corridor in Las Vegas.

"Caesars Entertainment's footprint positions it to be the leading purveyor of hospitality and entertainment experiences," Arasi said. "I look forward to bringing together the considerable assets already in place and under development to create the most compelling offerings in Las Vegas."

Arasi has held a range of senior operating and executive roles in the hospitality and gaming industries, including, President and Chief Executive Officer of Marina Bay Sands PTE Ltd. In that role, he was responsible for the completion of the $5.7 billion integrated resort in Singapore. Previously, he has held senior roles at Intercontinental Hotels Group, Crowne Plaza Hotels, and Tishman Realty and Construction Co. He also worked at Salomon Brothers.

Jenkin, Payne

In addition to Arasi's appointment, Tom Jenkin and John Payne will assume new responsibilities as Global President of Destination Markets and President of Central Markets and Partnership Development, respectively.

"These changes concentrate the attention of our company's most-senior leaders on the enhancement of our destination markets, our domestic expansion and regional markets and our hospitality strategy – all of which are critical to our future success," Loveman said.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $95.18 1.64%
FB $117.43 -0.96%
GOOG $692.36 -0.84%
TSLA $232.32 -3.92%
YHOO $36.01 -1.42%


Chart of I:DJI
DOW 17,750.91 -140.25 -0.78%
S&P 500 2,063.37 -18.06 -0.87%
NASDAQ 4,763.2240 -54.37 -1.13%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs