Activist investor Carl Icahn has a sizable position in casino operator Caesars Entertainment, Bloomberg News reported on Friday citing sources familiar with the matter.
Shares of the company jumped 15% after the report.
The size of Icahn’s stake in the company could not be learned, the report added.
Last month, the casino operator, which runs Caesars Atlantic City and Caesars Palace, missed market expectations for first-quarter results, offset by low table hold in its Las Vegas segment.
“I like Caesars and I own some stock, I would never do activism in Caesars,” Icahn said on CNBC.
In February 2019, the billionaire investor, after disclosing a 9.78% stake in the company, had urged Caesars to sell itself.
