Mark Frissora Out at Caesars Come February, Gaming Operator’s Stock Rebounds on News

100% up to £100
18+, opt-in required. Deposits with Skrill, PayPal, Neteller and Paysafecard not eligible. Casino bonus: min. £10, max. £100. Bonus/free spins winnings wagering requirement: x 35. Max. bonus bet: $7.50, €7.00, £5.00, can vary.
150% up to £500
New Players only, 10 Spins on Signup only on Starburst, 100 x Wagering on winnings, SMS Validation reg, No Deposit required, T&C's Apply. Welcome Bonus on first 3 deposits only, Min deposit £10, Max Bonus £500 + 100 Spins on Cleopatra, Selected slots only, 4 x Conversion, 30 x Wagering, T&C's Apply.
100% up to £5 No deposit
New players only. Max conversion £20. Selected slots only. SMS validation required.No deposit required. 100 x wagering. T&CS apply.18+
100% up to £50
£10 minimum deposit required to qualify for a 100% match bonus + 25 Free Spins. Maximum bonus is £50. 25 Free Spins for Gringos Dineros per player. Free spins are valid for 7 days. Free spins winnings paid in bonus and capped at £2.50. 18+
100% up to 25 Free Spins
New Games customers only. Sign up using promo code ‘GAMES’. Deposit and stake £5 or more to receive 25 Free Spins on selected games. Free Spins credited within 24 hours. Free spin equal to 20p per spin. The 25 free spins are only available on games Genie Jackpots, King Kong Cash, The Naked Gun or Ted. Any winnings from free spins will be paid as cash. Free Spins expire after 7 days. No wagering requirements applicable to free spins. E-Wallet & Prepaid Card restrictions apply. SMS validation may be required.Full T&Cs apply.
300% up to £30
18+. New customers only. Min £10 total stake on qualifying games. £10 Bonus, subject to 24x wager req. £10 Free Spins (20p each). £10 Golden Chips (£1 each). PayPal, certain deposit types and countries excluded. All bonuses valid for 30 days (bonus and winnings removed) on selected games.T&Cs Apply
150% up to £150
New players only. Wagering occurs from real balance first. 20 x wagering any winnings generated from free spins, contribution may vary per game. The wagering requirement is calculated on bonus bets only. Free spin is valid for 7 days from issue. Max conversion: £/$/€ 5 or 50 kr. Full Terms apply. Full Terms apply.
150% up to £/$/€950 + 95 Free Spins
New Players Only. Wagering occurs from real balance first. 50 x wagering the bonus or any winnings generated from free spins, contribution may vary per game. The wagering requirement is calculated on bonus bets only. Bonus is valid for 30 Days/ free spins valid for 7 days from issue. Max conversion: 5 times the bonus amount or from free spins: $/£/€ 20 or 200 kr. Full Terms apply.

The rumors were true about Caesars Entertainment CEO Mark Frissora: after speculation earlier this year that his days as top suit at the beleaguered gaming operator might be numbered, the company announced Thursday afternoon that Frissora is leaving his role effective February 8, 2019.

Mark Frissora

Caesars Entertainment CEO Mark Frissora is being ousted after months of speculation that he would be. (Image: YouTube)

From a business standpoint, several signs pointed to Frissora’s future with the company being in doubt. And after his non-renewal of his contract was announced, the company saw an immediate payoff.

Caesars made the announcement after the NASDAQ closed at 4 pm ET Thursday, but since then the company’s stock has shot up 10 percent after hours — by 90 cents per share, from $8.85 to $9.75 — as of 5:30 pm ET.

Earlier this month, Wall Street analysts said that a proposed merger between Caesars Entertainment and Golden Nugget would be good for business, but bad for Frissora. The proposal would place Golden Nugget CEO Tilman Fertitta at the head of the merged companies.

News of Frissora’s departure also comes after reports that several major investors have grown displeased with the direction of the company amid declining valuations, purchases that were questioned by some, and apprehension about the company’s decision to open nongaming properties in Dubai.

Caesars announced opening dates for the four Dubai properties earlier this year and Frissora praised the company's vision to expand internationally.

Caesars stock is down 24 percent since January 1, 2018, and that's including today's jump.

Making Money on His Own Demise

In a roundabout way, Frissora actually made money by losing his job.

In August, he used $955,000 of his own money to purchase 100,000 shares in the company. Each share increased by 90 cents on Thursday for a $90,000 profit. Frissora also made money on the rumored merger with Golden Nugget. Though it didn’t paint a bright future for him, Caesars stock increased by $1.11 with the rumors, for a $111,000 gain.

Frissora made a reported $24 million in 2017, including bonuses and other ancillary rewards to his $2 million annual salary.

Contractual Non-Obligation

Frissora’s contact with Caesars, originally signed on February 5, 2015, was a four-year agreement set to expire this coming February. The deal included rolling one-year renewals, but Caesars has apparently chosen to give Frissora the required 60 day notice of its non-renewal without cause intent.

Caesars’ Compensation and Management Development Committee and Chairman of the Board James Hunt will search for Frissora’s replacement throughout the three-month transition period.

According to Frissora’s contract, the non-renewal constitutes termination without clause, per Nevada statutes that allow any employer to terminate any employee for any or no reason.

The parting of ways follows controversy that haunted Frissora from the start, coming in from Hertz with no gaming industry background whatsoever.

The post Mark Frissora Out at Caesars Come February, Gaming Operator's Stock Rebounds on News appeared first on

Original source:

About the Author: AC

A player on the Horses for over 20 years. I currently bring my expertise in Sports betting to maintain and promote my related websites. I'm always looking out for the next angle to talk about on my sites and improve on my and ultimately your betting success. Good luck to all.

You May Also Like

Leave a Reply

Your email address will not be published. Required fields are marked *