Caesars search for new CEO could last “well into 2019,” says analyst

By Tim Poole

Caesars Entertainment’s search for a new CEO may last "well into 2019," according to gaming analyst Carlo Santarelli.

Santarelli, of Deutsche Bank, is quoted as saying in a research note that executive search firm Heidrick & Struggles has interviewed candidates from within the gaming industry and C-level execs from outside the industry.

No concrete progress has been made, however, leading a source to telling CDC Gaming Reports the CEO search "will go on as long as it takes to find the best candidate and [current CEO Mark Frissora} will remain as CEO until that happens."

In his note, Santarelli said: "At present, we believe the process has focused on current public company CEO’s, or those with CEO experience." He added that the hiring process "could extend well into 2019" and that it was "unlikely" Caesars would name an interim CEO.

The operator initially announced Frissora's departure as President and CEO on 1 November, with 8 February 2019 projected to be his final day.

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