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The council, which includes Nike co-founder and Chairman Phil Knight, will advise Huntsman, a former governor of Utah and U.S. ambassador to China, on issues related to the economy and jobs.
Last week, Loveman appeared on the "Nightly Business Report" on the Public Broadcasting Service to discuss President Barack Obama's job creation package.
Loveman said he is disappointed that Obama didn't address the housing crisis as part of the speech.
"If we don't stimulate the housing market properly, there's very little likelihood we'll see meaningful job growth," Loveman said on the television show.
Loveman, who was unavailable for comment, was described by Caesars Senior Vice President of Public Affairs Jan Jones, "as an independent in every sense of the word."
Loveman's support for Huntsman comes in the same week that Gov. Brian Sandoval endorsed presidential candidate Rick Perry, the Texas governor.
Huntsman also appointed Morgan Stanley Chairman John Mack and former U.S. Chamber of Commerce chairman Tom Bell to the campaign's panel.
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