Harrah's CEO named Chairman of AGA Board

Filed in archive on January 12, 2007

At their year-end meeting last December, the AGA board of directors elected Gary Loveman, chairman, president and CEO of Harrah's Entertainment, Inc., to serve as chairman of the AGA. Loveman, who succeeds J. Terrence Lanni, president and CEO of MGM MIRAGE, began his two-year term at the beginning of this month.

"Gary is one of the most vocal and persuasive advocates for the continued normalization of our industry, and his forward-looking approach will serve the AGA well," said Frank J. Fahrenkopf, Jr., president and CEO of the AGA. Loveman has guided Harrah's through the waters of a huge buyout offer in recent months, making history as the fourth-largest buyout offer the U.S. stock market has ever seen.

Loveman, a former Harvard Business School professor, has been CEO of Harrah's since 2003, coming into that post from his former position as COO. Loveman has guided the company through the acquisition of the legendary Binion's Horseshoe and World Series of Poker brands, and has masterminded the acquisition of a large portion of adjacent Las Vegas Strip properties rumored to be the site of a new mega-development.

The AGA, which includes as members not only Harrah's and MGM/Mirage but most land-based casino companies in the US, was created "with the fundamental goal of creating a better understanding of the gaming entertainment industry by bringing facts about the industry to the general public, elected officials, other decision makers and the media through education and advocacy." The lobbying group has its offices in Washington, DC.