Icahn’s Love For Caesars Continues – Increases Stakes To 17.75 Percent

Icahn’s Love For Caesars Continues - Increases Stakes To 17.75 Percent

Earlier last week, activist investor Carl Icahn had increased his stakes in Caesars Entertainment Corp, a US-based casino operator, from 9.8 percent to 15.5 percent. However, in what seems to be his unending love for Caesar’s, Icahn has further increased his stakes in Caesar’s to 17.75%, a 50% increase in a matter of weeks.

With Icahn becoming the single largest shareholder in Caesars, after increasing his stakes from 9.8 percent to 15.5 percent, earlier last week, private equity firms Apollo Global Management LLC and TPG Capital, private equity firms didn’t seem to be happy and had announced that they would pull their investments in Caesars.

As of today, according to a filing by both Apollo and TPG, the equity firms have sold nearly 36.7 million shares. On the other hand, Icahn has announced a further increase in his stakes at Caesars.

While Apollo and TPG and TPG pulling their investments was not unexpected, but Icahn’s intensifying affair with Caesars shares may take many by surprise. Also, Icahn becoming the single largest investor in Caesars had witnessed raised eyebrows from frowning analysts who are apprehensive of Icahn’s increased influence in Caesar’s corporate decision making.

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