The Entertainment division is charged with overseeing the management and operations of live shows, acts and entertainment at 58 US gaming properties, including eight on the Las Vegas Strip.
The departures, which occurred on 2 January, are designed to bring overall Entertainment leadership under the umbrella of the wider corporate entity, with no separated leadership for individual Strip properties.
As of January 2024, Caesars is the second largest gambling operator on the Las Vegas Strip, behind MGM Resorts.
Caesars VP of corporate entertainment Chris Yancey and VP of entertainment & attraction marketing Amy Naples have reportedly been cut, as has VP of brand alliances & sponsorships Mark Weinstein, among others.
Entertainment office manager Jessica Tindor and regional VP entertainment programming and analytics Mike Hodin are also understood to have been ushered out.As reported, the move comes shortly after Jason Gastwirth exited the operator on 31 December. Gastwirth had spent five years in the position and joined the company in 2011.
The layoffs occurred on the same day that Amy Graca assumed her new position as SVP entertainment. Prior to this, Graca worked as SVP enterprise ticketing.
In the operator’s Q3 2023 report, CEO Tom Reeg highlighted the firm’s continued EBITDA growth in both digital and brick-and-motor as evidence of the company’s growth prospects.
This is despite concern over the company’s share price, which has slumped 11% over the past six months.
The departures could be related to Reeg’s ongoing commitment to cut costs, which he first initiated after becoming CEO following the business’ acquisition by Eldorado Resorts.
The macro-economic environment and continued losses in the digital division have also seen Caesars come under renewed pressure to achieve increased profits in recent months.
