Caesars to evaluate Icahn’s request
The evaluation comes after the casino mogul purchased a 10% stake in the company.
US.- Caesars Entertainment has issued an official response to Carl Icahn’s requests to represent the company’s board. This comes after the investor’s filing to the Securities and Exchange Commission.
Icahn confirmed this week that he purchased a 10% stake in Caesars Entertainment, but that he wasn’t okay with how the company is proceeding as he wants representation on the board. Caesars said that it will evaluate Icahn’s request: “Caesars Entertainment regularly engages with our stockholders and considers their ideas and input regarding stockholder value. The board and management have engaged in discussions with Mr Icahn and expect to continue a constructive dialogue. The company intends to carefully evaluate Icahn’s suggestions, including his request for board representation.”
“We continue to focus on expanding margins by refining our operating model, in part by seeking more opportunities to increase efficiency. We are also pursuing inorganic growth through acquisitions and brand licensing opportunities, including opening the Company’s first non-gaming resort, Caesars Bluewaters Dubai, last year. We expect to generate strong free cash flow in the coming years which will fuel further growth and deleveraging,” continued the company.
