The billionaire is increasing his shares in Caesars Entertainment, though the size of his stake is unknown.
US.- Casino tycoon Carl Icahn is reportedly building a stake in Caesars Entertainment, though the former owner of the Trump Taj Mahal hasn’t disclosed how big his stake in the company is. Caesars’ shares jumped more than 11.6% on Friday after the news emerged.
According to a CNBC report, Icahn didn’t immediately respond to a request of comment and the size of his stake in the company is not known. The company’s shares jumped as much as 11.6% in morning trade on Friday.
Last year, the company rejected a merger approach by Tilman Fertitta, the billionaire owner of Golden Nugget Casinos, who offered US$13 a share in cash and stock. Fertitta would have become the CEO of the combined company.
Moreover, in 2018 Icahn also sold his take in Tropicana Entertainment for US$1.8 billion to Gaming and Leisure Properties and Eldorado Resorts. A year before he had shut down the Trump Taj Mahal casino, now operating under Hard Rock International’s casino brand.