What are Carl Icahn’s intentions after latest Caesars stock purchase?

What are Carl Icahn’s intentions after latest Caesars stock purchase?

Article brief provided by The Nevada Independent
  • Howard Stutz, The Nevada Independent
June 6, 2024 3:52 PM
  • Howard Stutz, The Nevada Independent

Billionaire investor Carl Icahn has not lost his fascination with Caesars Entertainment.

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Bloomberg News reported last week that Icahn — who made millions by selling his company stock four years ago after helping increase its value — has acquired an undisclosed stake in the gaming company, which operates 52 casinos and resorts in 18 states including 15 properties in Nevada. The story caused the company’s stock price to increase more than 15 percent and led to speculation over his intentions.

“I like Caesars and I own some stock, I would never do activism in Caesars,” Icahn told CNBC after the news broke.

Icahn, 88, whose net worth is $5.4 billion according to Forbes, doesn’t do things quietly.