Caesars appoints Harris Jones to board
Harris Jones becomes the 10th director in the current Caesars board. She takes on her new role with immediate effect.
The latter part of Harris Jones’ career has been spent working in the food industry. She most recently worked at snack giant Mondelez International for two and a half years before retiring in March 2015.
While with Mondelez, she helped oversee the company’s progress after being spun off from Kraft Heinz, then known as Kraft Foods. Harris Jones had worked at Kraft since 2009 as senior vice-president and corporate controller.
Prior to this, Harris Jones worked in the automotive sector, including 17 years with Chrysler. Here, she held several leadership positions, ultimately becoming senior vice-president and corporate controller.
In addition, before her time with Chrysler, Harris Jones spent six years at General Motors.
Harris Jones, who holds an MBA in finance and a bachelor’s degree in accounting from the University of Michigan, also currently serves as a board member of United Rentals, TrueBlue and Fossil Group.
Caesars CEO welcomes “outstanding” experience of Harris Jones
Commenting on the appointment, Caesars CEO Tom Reeg says he is pleased to welcome Harris Jones to the board. He says her management level experience will support Caesars moving forward.
“Kim shares our vision for strategic, collaborative innovation,” Reeg said. “She has outstanding experience navigating complex issues and implementing transformation for optimisation.
“I look forward to working with her, the rest of our board and the management team to continue to drive results for our guests, our team members and our shareholders.”
Caesars executive chairman Gary Carano added: “Kim Harris Jones is a tremendous addition to the leadership team.
“With her extensive experience in finance and a reputation as a thoughtful and engaged leader inside some of the largest consumer-packaged goods and automotive companies, Kim’s addition will give us another lens through which to see stronger, more dynamic future possibilities for Caesars.”
Caesars to report Q1 results
The appointment comes as Caesars prepares to publish its Q1 results later today (30 April).
In its full-year results for 2023, Caesars said growth within its digital division pushed revenue up 6.5% year-on-year in 2023. Revenue was higher across all divisions, with group revenue hitting $11.53bn (£9.20bn/€10.78bn).
This growth also helped the group return to a net profit. Group net profit for 2023 reached $786m, compared to the previous year’s $899m loss. In addition, adjusted EBITDA for the year increased 21.7% to $2.92bn.
Along with announcing the results, Caesars also confirmed the acquisition of WynnBet’s Michigan igaming business. It also signed a long-term extension for igaming market access rights in the state with the Sault Ste Marie tribe of Chippewa Indians.
With this, Caesars gains access to the Sault tribe’s igaming skins, thus allowing it to operate additional digital brands in Michigan. Existing WynnBet customers are now transitioning to Caesars’ Michigan igaming platform later this year, pending regulatory approvals.
In more recent news, Caesars in March became the first operator to launch online sports betting in North Carolina. It has rolled out its sportsbook in partnership with the Eastern Band of Cherokee Indians.