Caesars Entertainment appoint new CMO

ars Entertainment Corporation (CEC) has announced the appointment of Chris Holden as the new Chief Marketing Officer (CMO).

The new appointment will be effective as of November 1, 2017. Holden will oversee the development of Caesars' marketing projects. Those will include the company’s loyalty programme as well as CEC’s hospitality brands.

Holden said: "I am excited to join such a talented team and help lead the charge to grow Caesars' brands globally, enhance customer engagement and drive the continued success of Total Rewards."

President and Chief Executive Officer (CEO), Mark Frissora, commented on Holden’s appointment, stating: "Chris has broad marketing experience overseeing one of the best-known and most successful loyalty programs in the hospitality industry, as well as leading analytics, digital and partnerships.”

Holden brings with him years of senior marketing experience. His most recent role was at Handy, a tech start-up, where he served as CMO. Beforehand he gained valuable experience in the hospitality and hotel industry during his 15 years spent working for Starwood Hotels and Resorts Worldwide.

Frissora added: “His experience will complement our efforts to further cement Caesars Entertainment's marketing leadership in the gaming and hospitality space.

“I am also confident that Chris will be an excellent steward for our portfolio of brands and help drive new growth for the company by further leveraging our recent investments in technology to optimize our database and continue to deliver innovative guest experiences."

The company also confirmed that it has a reached an agreement to secure an additional $265m in credit add-ons which it hopes to use to streamline the company’s balance sheet.

In a statement announcing the additional funds, Frisora said: "The add-on term loan will save Caesars Entertainment approximately $20m in annual interest expense and is the latest step in the effort to optimize the balance sheet and improve free cash flow across the enterprise. Upon completion of this and other recently announced refinancing, Caesars' annual interest expense will be reduced by more than $290m in the aggregate."

The announcements are a continuation of CEC’s restructuring following the company’s emergence from bankruptcy on 6 October 2017.