Tom Reeg is the Chairman and Chief Executive Officer of Caesars Entertainment, the US casino operator formed in 2020 when Eldorado Resorts acquired the original Caesars Entertainment Corporation in a deal valued at $17.3 billion, at the time the largest transaction in American gaming history. Reeg came into the casino business by an unusual route: rather than rising through hotel or casino operations, he spent the first part of his career as a Wall Street credit analyst and portfolio manager before joining Eldorado Resorts in 2007. He was named Eldorado’s President in 2014, added the CFO title in 2016, became CEO in 2019, and has led the combined Caesars organization — which today operates more than 50 properties across roughly 20 US states — since the merger closed in July 2020.
Snapshot
| Field | Value |
| Name | Thomas R. “Tom” Reeg |
| Current Title | Chairman and Chief Executive Officer |
| Company | Caesars Entertainment, Inc. (NASDAQ: CZR) |
| Industry | US Casino Gaming, Sports Betting, iGaming |
| CEO Since | 2019 (Eldorado Resorts); 2020 (combined Caesars Entertainment) |
| Education | B.B.A., Finance, University of Notre Dame |
| Company HQ | Reno, Nevada |
Current Role at Caesars Entertainment
As CEO, Reeg is responsible for the day-to-day strategy of one of the largest casino-entertainment companies in the country, spanning the Caesars, Harrah’s, Horseshoe, and Bally’s/regional-property brands, the Caesars Rewards loyalty program, and the Caesars Sportsbook and Caesars Digital online betting and iGaming businesses. Since the merger, his public priorities have centered on paying down the substantial debt taken on to fund the deal, integrating Eldorado’s leaner, property-level operating model into the larger Caesars portfolio, and building out Caesars’ regulated online sports betting and casino business as more US states have legalized those verticals.
Career Timeline
| Years | Title | Organization |
| 2020 – present | Chairman and Chief Executive Officer | Caesars Entertainment, Inc. |
| 2019 – 2020 | Chief Executive Officer | Eldorado Resorts, Inc. |
| 2016 – 2019 | Chief Financial Officer | Eldorado Resorts, Inc. |
| 2014 – 2019 | President; Board Member | Eldorado Resorts, Inc. |
| 2007 – 2014 | Board of Managers | Eldorado Resorts, LLC |
| 2005 – 2010 | Senior Managing Director / Founding Partner | Newport Global Advisors |
| 2002 – 2005 | Managing Director, Portfolio Manager | AIG Global Investment Group |
| Prior | Senior High-Yield Research Analyst (casino, lodging & leisure sectors) | Bank One Capital Markets |
Note: Some outlets list Reeg’s Eldorado tenure beginning in 2005–2007 in different capacities (an indirect stockholder relationship through Newport Global Advisors preceded his formal board role). Caesars’ own investor-relations biography anchors his board involvement to 2007.
Education
Tom Reeg holds a Bachelor of Business Administration (B.B.A.) in Finance from the University of Notre Dame.
Path to the Top: Career Highlights
Reeg’s background sets him apart from many casino-industry peers. Before ever working for a casino operator, he spent years on the finance side of the gaming sector — first as a high-yield bond analyst at Bank One Capital Markets covering casino, lodging, and leisure credits, then as a portfolio manager at AIG Global Investment Group, and later as a founding partner of Newport Global Advisors, an investment firm that held an indirect stake in Eldorado Resorts. That analytical, credit-market lens is frequently cited (including by Reeg himself in investor calls) as the basis for his approach to capital allocation and cost discipline once he moved into operating roles.
Reeg joined Eldorado’s board of managers in 2007 and spent the next decade helping steer the company’s acquisition strategy, which included the 2014 merger with MTR Gaming Group, the 2017 acquisition of Isle of Capri Casinos, the acquisition of the Grand Victoria Casino in Elgin, Illinois, and the 2018 acquisition of Tropicana Entertainment. He was named President in 2014, added the CFO role in 2016, and became CEO in January 2019 — at which point Eldorado was still primarily a regional operator with properties concentrated in states like Nevada, West Virginia, Ohio, Pennsylvania, and Louisiana. Less than a year into his tenure as CEO, Eldorado announced its agreement to acquire the much larger Caesars Entertainment Corporation, a deal that closed in July 2020 and made Reeg CEO of the combined company.
Key Achievements in the US Gambling Industry
The Eldorado–Caesars Merger (2020). Reeg was the lead architect and public face of Eldorado’s $17.3 billion acquisition of Caesars Entertainment Corporation, structured so that the smaller, Reno-based Eldorado became the surviving parent company while adopting the more globally recognized Caesars name and its NASDAQ ticker “CZR.” The combined company emerged as the largest casino-entertainment business in the United States by property count, with more than 50 properties across roughly 16 states at closing.
Divesting William Hill’s International Business (2021–2022). Caesars had acquired UK bookmaker William Hill for roughly £2.9 billion in 2021, primarily to get at William Hill’s US sports betting technology and licenses. Under Reeg, the company then sold William Hill’s non-US operations (more than 1,400 UK betting shops plus European online operations) to 888 Holdings for a deal initially valued at approximately £2.2 billion, later revised downward before closing in mid-2022 — a transaction that let Caesars keep the US sports betting assets it wanted while offloading the international business and using the proceeds to pay down merger-related debt.
Digital Sports Betting and iGaming Build-Out. Following the merger, Caesars invested heavily in marketing to grow Caesars Sportsbook and its online casino products as more states legalized sports betting and iGaming after the 2018 repeal of PASPA (the federal sports betting ban). That spending drew scrutiny for its scale in 2021–2022; the company subsequently scaled back promotional spend and has since reported improved profitability in its digital segment.
Sale of the WSOP Brand (2024). In August 2024, Caesars agreed to sell the World Series of Poker brand and its intellectual property to NSUS Group, parent company of GGPoker, in a deal valued at $500 million ($250 million cash plus a $250 million promissory note), which closed that October. As part of the agreement, Caesars retained the right to host the WSOP’s flagship live tournament series at its Las Vegas properties for 20 years, while NSUS took over global brand ownership and online operations outside a handful of US states where Caesars retained a license.
Formula 1 Las Vegas. Caesars’ Strip-adjacent properties, including Caesars Palace, are positioned along the Las Vegas Grand Prix circuit, and the company has promoted its involvement with the race as a driver of incremental visitation and revenue during race weekends since F1 returned to Las Vegas in 2023.
Company Background: Caesars Entertainment
Caesars Entertainment, Inc. trades on NASDAQ under the ticker CZR and is headquartered in Reno, Nevada. Formed through the 2020 merger of Eldorado Resorts and the former Caesars Entertainment Corporation, the company operates casino and hospitality properties under the Caesars, Harrah’s, Horseshoe, and Eldorado brand names, along with regional and Las Vegas Strip assets including Caesars Palace. Caesars Rewards, the company’s loyalty program, is among the largest in the gaming industry, with membership reported in the tens of millions. The company’s digital arm, Caesars Digital, operates the Caesars Sportsbook mobile betting app and online casino products in multiple regulated US states.
Tom Reeg’s Role in the US Gambling Market
Since taking over the combined company, Reeg has overseen Caesars’ expansion into legal US sports betting and online casino markets state by state, positioning Caesars Sportsbook as one of a handful of national-scale operators alongside companies like FanDuel, DraftKings, and BetMGM. He has also spoken publicly, including at industry and investor events, about responsible gaming as a core obligation for large operators; under his leadership, Caesars introduced an expanded, company-wide voluntary self-exclusion policy and a 21+ minimum age policy for Caesars Rewards and gaming access in 2023. Reeg has also been a visible commentator on US gaming tax policy and state regulatory frameworks in earnings calls and industry commentary, given Caesars’ exposure across a large number of state-regulated markets.
Awards & Recognition
Recognition below is attached to the company Reeg leads rather than to Reeg personally — we could not independently verify any individual “Executive of the Year”-type award specifically credited to Reeg as of this writing, so none is claimed.
- Corporate Social Responsibility Award, National Council on Problem Gambling National Awards (2024) — awarded to Caesars Entertainment for its responsible gaming policies, including its 2023 universal self-exclusion and 21+ gaming policies.
- Customer Loyalty Program of the Year, Global Gaming Awards Americas (2025) — awarded to Caesars Rewards.
- Best Customer Service and Best Promotion, Freddie Awards (2022) — awarded to Caesars Rewards in the Americas region, voted on by frequent-traveler/loyalty-program members.
- Best Players Club, USA TODAY 10Best Readers’ Choice Awards — Caesars Rewards has placed first in this reader-voted category in multiple years (confirmed for 2021; the company has stated the recognition has recurred since).
Frequently Asked Questions
Who is Tom Reeg?
Tom Reeg is the Chairman and CEO of Caesars Entertainment, the NASDAQ-listed casino operator formed by the 2020 merger of Eldorado Resorts and the former Caesars Entertainment Corporation.
How did Tom Reeg become CEO of Caesars Entertainment?
Reeg was CEO of Eldorado Resorts starting in 2019. When Eldorado completed its $17.3 billion acquisition of Caesars Entertainment Corporation in July 2020, the combined company took the Caesars name, and Reeg became CEO of the merged entity.
What is Tom Reeg’s educational background?
He holds a B.B.A. in Finance from the University of Notre Dame.
What was Tom Reeg’s career before the casino industry?
He worked in finance roles, including as a high-yield credit analyst at Bank One Capital Markets and a portfolio manager at AIG Global Investment Group, before joining Eldorado Resorts’ board in 2007.
What is Caesars Entertainment’s role in US sports betting?
Through its Caesars Digital division and the Caesars Sportsbook app, Caesars operates online and retail sports betting and iGaming products in numerous US states where those verticals are legal, competing with operators such as FanDuel, DraftKings, and BetMGM.