Gambling in the USA

Carl Icahn increases stakes in Caesars

Published

6 years ago

March 12, 2019

Niji Narayan

Photo Source: forbes.com

Reading Time: < 1 minute

US billionaire Carl Icahn has increased his stakes in Caesars by 50 per cent. He acquired shares from Apollo Global Management LLC and TPG Capital, the two private equity firms that controlled Caesars Entertainment Corp. for a decade.

Apollo and TPG filed in the stock market that they sold about 36.7 million shares to a third party. Icahn also reported that he has increased his stakes by 50 per cent to become the single largest shareholder of Caesers. At present, he has 15.5 per cent statkes.

Icahn, an investor known for bargain hunting and corporate activism, began actively acquiring shares earlier this year. On March 1, Caesars negotiated an agreement with Icahn that gave him three seats on the board.

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.