Two insiders at Caesars sold large stakes in the company this week at prices below the $31 per share offered by Fertitta Entertainment.
Director Michael Pegram and Chief Legal Officer Ed Quatmann Jr. each sold millions of dollars worth of shares. The sales were executed at average prices of $29.41 or lower, leaving significant upside on the table if the shares had been held until the close of the Fertitta transaction.
Caesars also has the option to consider and negotiate other offers through July 11, meaning those shares could be worth even more if another suitor emerges.
Caesars did not respond to multiple requests for comment before publication.
