Harrah's Exec Resigns

As reported by the Philadelphia Inquirer: "The top Harrah's executive in charge of the company's four casinos in Atlantic City resigned from his post Monday.

"A Harrah's Entertainment Inc. spokeswoman said yesterday that David Jonas, Harrah's regional president, resigned for 'personal reasons.' Carlos Tolosa, eastern division president for Harrah's, will serve as interim regional president until the company finds a replacement for Jonas.

"…The company's four Atlantic City properties - Harrah's, Showboat, Caesars and Bally's - accounted for 40 percent of last year's $4.8 billion in total gambling revenue. Harrah's Entertainment is also poised to become a major player in Pennsylvania, which legalized gambling last year, and is developing a site it co-owns into a racetrack and casino with 2,500 slot machines in Chester, Delaware County.

"Jonas has been intimately involved in the company's revamping of its Atlantic City casinos. He was on hand at the grand opening of the House of Blues - a major concert and restaurant venue - at Showboat casino in July, and was overseeing the development of the $175 million Pier at Caesars, a retail, dining and entertainment complex behind Caesars on the Boardwalk that is set to open in spring 2006.

"…Jonas' departure also comes at a crucial time for Atlantic City. The East Coast gambling capital has seen significant management turnover as it faces increased competition from surrounding states…"