Tom Reeg to Lead Fertitta's Gaming Company

Caesars Entertainment CEO Tom Reeg is expected to manage the broad operating structure of Fertitta Entertainment, which includes the Landry's and Golden Nugget casinos, once Tilman Fertitta completes the $17.6 billion acquisition of Caesars. According to Vital Vegas, it is unusual for the CEOs of acquired casino companies to remain in their roles after large mergers and takeovers.

Reeg will be responsible for managing Fertitta's gaming, entertainment and hospitality assets. However, Fertitta Motor Group, the Houston Rockets and Fertitta's commercial real estate investments in the Houston area will fall outside this scope.

Since Reeg's time at Eldorado Resorts, when the Caesars acquisition was made, new Caesars shares have lost 24.2% of their value, while rival MGM Resorts has risen about 75%. Caesars is said to have been slow on debt reduction, but under Reeg it has been successful in selling non-core assets.

In its third-quarter results, Caesars reported a loss of 61 cents per share. Revenue from the company's regional casinos rose about 6%. Because of the acquisition process, the company did not hold a conference call for its results.