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Are Icahn And Fertitta Coming Together To Purchase Caesars?

Are Icahn And Fertitta Coming Together To Purchase Caesar?
Are Icahn And Fertitta Coming Together To Purchase Caesar?

While it is yet to be confirmed but according to the sources from the US gambling industry, activist investor Carl Icahn could join hands with Tilman Fertitta another billionaire to purchase Caesars Entertainment Corp. Fertitta, also owns two popular Casinos Houston Rockets and the Golden Nugget Casino.

Since the beginning of the year, Caesars and Icahn have been making news as Icahn in a quick succession increased his stakes in Caesars. In just two weeks Icahn almost doubled his stakes in Caesars going from 9.8 percent to 17.75% and then 28.5% to become the singles largest investor in Caesars Entertainment Corp.

Since Icahn has raised his stakes in Caesars, he is also in control of the company. Icahn had been advocating that the only way ahead for Caesars is that the company either be sold or there is a merger. Also, since his publicly made comments, there have been several new reports of silent undergoing processes and bid offers for Caesars acquisition.
Amongst those offering for a merger Fertitta has been a popular one, however, his offer already got rejected.

However, with the new developments in the Caesars merger-acquisition saga, coming together of ICah and Fertita can be, and their joint proposal will be too strong for Caesars to reject.

As Icahn already has ownership of 28.5 percent of Caesars shares, only the remaining 71.5 percent needs to be bought by the duo. The market valuation of Caesars is approximately $5.6 billion. Fertita who could most probably be a partner with Carl Icahn Caesars acquisition is worth $4.8 billion.

Earlier this week unconfirmed news of a Caesar Eldorado merger was also a talking point in the gambling industry.

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About the author

Harry Matthew

Harry Matthew

Harry serves as a resident reporter for Casino Buzz. He has been responsible for building the content base and forms the core reporting strategies for the website. Along with reporting, Harry is an amazing baseball player with good record at university level. He can be reached at hm@casino.buzz

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