Caesars Entertainment and Foodbuy Form “Parlay Solutions”
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Innovative new joint venture seeks to transform gaming industry purchasing
More than 200 Caesars suppliers have already joined Parlay Solutions
Today, Caesars Entertainment Corporation (NASDAQ:CZR) and Foodbuy, LLC, a subsidiary of Compass Group USA, Inc., announced that they are joining forces to create Parlay Solutions, the premier group purchasing organization for the North American Gaming Hospitality and Entertainment Industry. Parlay will begin serving members in September 2018.
This joint venture will combine Caesars’ expertise in the gaming industry, supplier relationships and sourcing capabilities with Foodbuy’s supplier relationships, analytics and procurement expertise.
“Parlay will help its members save on their supply chain expenses through purchasing efficiencies as well as help them optimize their spend with local and diverse suppliers,” said Mark Frissora, President and CEO of Caesars Entertainment. “Caesars Entertainment has successfully invested in its supply chain to generate substantial value for our business and this partnership with Foodbuy will deliver the same benefit to its members.”
“Our combined capabilities create opportunities for gaming operator members and industry suppliers to revolutionize the way they do business,” said Dennis Hogan, Chief Executive Officer of Foodbuy, LLC.
Parlay’s founders bring expertise managing more than $20 billion in purchasing volume and nearly 30 years of experience. Parlay will help its members to generate savings, increase revenues, optimize spend from local and diverse suppliers, and delight guests with superior products and services.
More than 200 Caesars suppliers have signed on to join Parlay. Coupled with access to more than 2,000 suppliers from Foodbuy, Parlay provides unique benefits across the broad range of products and services gaming operators need to realize savings on the millions of dollars they spend annually on their supply chain. Supplier partners will benefit from faster and more economical ways to create and grow relationships with gaming operators across North America.
Group purchasing organizations have proven successful in other industries such as healthcare, education, manufacturing and hospitality to connect buyers and suppliers for mutual benefit. Caesars and Foodbuy are pleased to announce Parlay as the first GPO created by gaming and procurement experts with unique capabilities for the gaming industry.
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