Carl Icahn has unveiled a huge stake in Caesars and is calling on the company to sell itself (CZR)



Man playing slot machinesTom Smith watches the screen of a slot machine playing at Empire City Casino in Yonkers, NY.

  • The legendary investor Carl Icahn revealed in a statement on Tuesday that he held a 9.8% stake in the Caesars gaming giant.
  • Icahn urged the company to sell itself and said that he planned to speak from his point of view to the board of directors and other stakeholders, the file says.
  • Icahn has a tradition of mergers and acquisitions in the casino sector.
  • Watch Caesars trade live.

Caesars gaming giant was in place 5.36% to $9.64 shares Tuesday after legendary investor Carl Icahn revealed a massive stake in the company and urged the company to sell itself.

the A billionaire investor has acquired a 9.8% stake in the casino operator, according to a document filed Tuesday. Icahn stated that he thought that the sale of Caesars was the best way to serve all shareholder values, and that he planned to speak from his point of view to the board of directors and to the others. stakeholders, indicates the file.

"We believe that our brand of activism is well suited to the situation at Caesars, which requires new thinking, new leadership and new strategies.We have acquired a significant investment in the issuer because we believe that It will bring us a noticeable influence on the future of society, "said Icahn in the rankings.

Icahn has a history of mergers and acquisitions in the casino business. In 2018, he agreed to sell Tropicana Entertainment, a company he bought back in 2008, to Eldorado Resorts and Gaming and Leisure Properties for $ 1.85 billion.

And in 2017, Icahn sold the closed Trump Taj Mahal casino in Atlantic City to Hard Rock International. He acquired this property from bankruptcy two years earlier.

Caesars was down 27% in the last 12 months.

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