A Caesars Entertainment board member with ties to billionaire investor Carl Icahn has resigned.
Caesars didn’t issue a release, but the profile of Courtney Mather, CEO of Vision One, is no longer listed on the page of Caesars Board of Directors. He had served on the Board since March 2019.
The resignation comes as reports surfaced this week from Bloomberg News that Jefferies Financial was exploring investor interest in approximately $5 billion in debt to support a competing offer for the company from Icahn. Fellow billionaire Tilman Fertitta has a $17.6 billion acquisition proposal for the casino operator.
In late May, Caesars entered into an agreement to be acquired privately by Fertitta Entertainment in an all-cash transaction. In the deal, which includes a “go-shop” period for Caesars through July 11 to consider other offers, Fertitta will assume $11.9 billion of Caesars’s outstanding debt. Fertitta executives talked about the deal at Wednesday’s Nevada Gaming Control Board.
Mather was the portfolio manager and managing director of Icahn Enterprises from April 2014 to March 2020.
Veteran gaming reporter Howard Stutz with the Nevada Independent cited reports that a rival bid by Icahn is unlikely to beat out Fertitta’s.
Yogonet gaming news site reported that Mather’s departure was not the result of any disagreement with Caesars.
“The disclosure points to a governance change rather than a strategic or operational dispute, reducing the likelihood of immediate disruption for shareholders or management,” the site said. “The resignation may lead Caesars to make adjustments to its board composition and oversight arrangements as it considers any future appointments. Governance continuity is expected to remain in place as the company maintains its existing leadership structure.”
