Gary Loveman

Gary William Loveman (born April 12, 1960) is an American economist, businessman, and former professor. After nine years he left in 1998 to become COO of Harrah's Entertainment, which, following a number of acquisitions, became Caesars Entertainment. He was the CEO of Caesars Entertainment Corporation for 12 years until stepping down in June 2015, amidst a bankruptcy and restructuring. He remained chairman until late 2017. until January 2018.

In 2019, he co-founded digital health engagement platform Well. Loveman is known for the development and application of analytics to influence customer behavior, After graduating from Wesleyan, Loveman worked for the Federal Reserve Bank of Boston for two years as an economic researcher before pursuing a doctorate degree at Massachusetts Institute of Technology.

Career Harvard Business School After graduating from MIT at the age of 29, Loveman began teaching at Harvard Business School, where he was a professor for nine years, While at Harvard, Loveman taught Service Management and developed an interest in the service industry and customer service. He also launched a side career as a speaker and consultant after a 1994 paper he co-authored, titled "Putting the Service-Profit Chain to Work", attracted the attention of companies including Disney, McDonald's, and American Airlines. The paper focused on the relationship between company profits and customer loyalty, and the importance of rewarding employees who interact with customers. and "Act Like a Scientist", with fellow HBS professor, Stefan Thomke, in 2022. In 2008, he led the company as it transitioned from a public to private company, after being acquired by private equity firms Apollo Global Management and TPG Capital for approximately $30 billion.

During the 2008 financial crisis and the Great Recession, the company experienced a decrease in revenue and increased debt associated with the 2008 buyout by Apollo and TPG. Loveman cut costs and renegotiated the company's maturing debt to avoid defaulting. His leadership of the company through the debt restructuring in 2009 was praised by the American Gaming Association president and CEO Frank J. Fahrenkopf Jr. The company successfully completed an initial public offering in 2012, selling approximately two percent of its shares.

A proponent of legalizing online gambling, he helped to launch Caesars' online gambling operation in Nevada in September 2013.

As CEO, Loveman expanded Harrah's from 15 casinos in 2003 to over 54 locations in 2013, Loveman announced in February 2015 that he was going to step down from his post as CEO. He remained chairman until 2017.

Aetna He became an executive vice president of Aetna and president of its Consumer Health and Services organization,

Well Dot Inc. In January 2019, he co-founded Well Dot, Inc., a personal health management platform the company developed an artificial intelligence (AI) app tool designed to increase individual health engagement, which it markets to employers, community health organizations, and directly to consumers. Well raised its initial seed funding in November 2019, including from General Catalyst and Blue Cross and Blue Shield of North Carolina. Headquartered in North Carolina and Massachusetts, Loveman is CEO.

Committees and boards Loveman is a member of the board of directors of the Boston Celtics, of which he acquired a minority stake in 2007. He also was on the board of directors at FedEx, Coach, Inc. and of the American Gaming Association, of which he was chairman, from 2007 to 2009.

He was chairman of the Business Roundtable's Health and Retirement Committee. In 2012, he was named to the President's Export Council. He was previously a member of MIT's Department of Economics' visiting committee. Loveman and his wife have also helped with fundraising efforts for Joslin Diabetes Center. Loveman is also on the board of trustees of Boston Children's Hospital. In 2017, Boston Children's Hospital announced that $350,000 had been donated in honor of Loveman by his former colleagues to fund malaria research and a music therapy program. and diagnostic device startup Healthy.io. In 2013, Loveman was inducted into the American Gaming Association's Gaming Hall of Fame and awarded the Education Hero Award by the Las Vegas-based Public Education Foundation.