LAS VEGAS & RENO, Nev. - Caesars (NASDAQ:CZR) Entertainment, Inc. (NASDAQ: CZR), a prominent casino-entertainment company, announced today the appointment of Kim Harris Jones to its Board of Directors. The appointment is effective immediately, contingent upon regulatory approvals and licensure requirements.
Harris Jones, a seasoned executive with a substantial background in finance and strategic leadership, joins the board after notable tenures at Mondelez (NASDAQ:MDLZ) International and Kraft Foods (NASDAQ:KHC). Her experience spans over two decades in the consumer goods and automotive industries, including significant roles at Chrysler and General Motors (NYSE:GM).
The addition of Harris Jones is expected to provide Caesars Entertainment with enhanced strategic insight. Gary Carano, Executive Chairman of the Board, highlighted her reputation as a thoughtful leader, anticipating that her perspective will contribute to the company's future growth and innovation.
With a distinguished career, Harris Jones has been recognized by several publications for her influence and leadership. She was named to the "100 Most Influential Black Corporate Directors" list by BoardProspects Magazine and has received similar accolades from CFO Magazine, Black Enterprise Magazine, and Savoy magazine.
Tom Reeg, CEO of Caesars Entertainment, expressed his enthusiasm for Harris Jones's appointment, citing her alignment with the company's vision and her expertise in navigating complex challenges.
Harris Jones holds an MBA and a bachelor's degree in accounting from the University of Michigan, and she has served as a CPA. Her current board memberships include United Rentals , Inc. (NYSE: NYSE:URI), TrueBlue, Inc. (NYSE: TBI), and Fossil Group, Inc. (NASDAQ: NASDAQ:FOSL). She is also actively involved in various non-profit and professional associations.
With Harris Jones's appointment, the board of Caesars Entertainment now comprises 10 members. The company, established in 1937, operates under several brand names, including Caesars, Harrah's, Horseshoe, and Eldorado, and is known for its diversified gaming and entertainment services.
InvestingPro Insights
As Caesars Entertainment, Inc. (NASDAQ: CZR) welcomes Kim Harris Jones to its Board of Directors, the company's financial performance and stock market presence continue to be areas of interest for investors and industry observers. According to real-time data from InvestingPro, Caesars Entertainment holds a market capitalization of approximately $8.13 billion. This valuation reflects the company's position within the competitive casino-entertainment industry.
The company's P/E ratio, a measure of its current share price relative to its per-share earnings, stands at 10.18, with an adjusted P/E ratio for the last twelve months as of Q4 2023 at 8.11. This suggests that investors may find the stock's valuation appealing compared to its earnings. Additionally, Caesars Entertainment has reported a gross profit margin of 53.2% over the last twelve months, indicating a strong ability to control costs and generate earnings above the cost of goods sold.
InvestingPro Tips highlight several key factors that could influence investor decisions. Caesars Entertainment's stock price has experienced significant volatility and is currently trading near its 52-week low, which could present a potential entry point for investors seeking value. Furthermore, while net income is expected to decline this year, analysts predict the company will remain profitable, underscoring the company's resilience in a challenging economic environment.
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