{"id":3120,"date":"2019-03-05T14:36:16","date_gmt":"2019-03-05T14:36:16","guid":{"rendered":"https:\/\/casinous.com\/?p=3120"},"modified":"2020-04-15T11:48:35","modified_gmt":"2020-04-15T11:48:35","slug":"carl-icahn-gets-three-seats-at-caesars-entertainment","status":"publish","type":"post","link":"https:\/\/casinous.com\/carl-icahn-gets-three-seats-at-caesars-entertainment\/","title":{"rendered":"CARL ICAHN GETS THREE SEATS AT CAESARS ENTERTAINMENT"},"content":{"rendered":"

Kyle<\/a> | March 5, 2019 | Updated on: April 15th, 2020<\/p>

Carl Icahn, an American business mogul and investor has been afforded three seats at Caesars Entertainment. The billionaire acquired nearly 10 per cent stake in the casino operator. The appointments were confirmed in a press release issued by Caesars naming Icahn Enterprises CEO Keith Cozza, Icahn Capital Portfolio Manager Courtney Mather, and Icahn Enterprises board member James Nelson. Read on for more.<\/p>\n

\"Carl<\/p>\n

<\/span>ABOUT THE APPOINTMENTS<\/span><\/h2>\n

The appointments will be in replacement of three board members who were not identified during the announcement. Icahn acquired a 9.78 per cent stake in the distressed casino group and requested representation on the governing committee.<\/p>\n

James Hunt, the chairman of Caesars said; \u201cOur new colleagues bring diverse and relevant experience, and we look forward to them joining our board in our on-going efforts to further enhance value for all shareholders.<\/p>\n

Since the completion of Caesars\u2019 restructuring, we have been undergoing a strategic process to create value, and we will continue that process working with our new directors.\u201d<\/p>\n

Caesars shares soared 4%up to $8.97 since the appointments on Friday. This comes after the company was down for a full week losing 9.2%.<\/p>\n

<\/span>ICAHN ON CAESARS<\/span><\/h2>\n

Regarding Caesars\u2019 financial state, Icahn expressed that the company should consider being acquired via a reverse takeover. He says: \u201cI believe the best path forward for Caesars requires a thorough strategic process to sell or merge the company to further develop its already strong regional presence,\u201d said Icahn.<\/p>\n

The investor said in doing so, Caesars would effectively grow its loyalty network and its operations in Nevada, Las Vegas.<\/p>\n

\u201cI expect this to make Caesars the most powerful competitor in Vegas, the gaming capital of the world. Caesars would be a great opportunity for certain investors who have already expressed interest, and I\u2019m glad the Board will explore these opportunities,\u201d Icahn added.<\/p>\n

Stay tuned to our casino site<\/a> for more gambling news and updates!<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Kyle | March 5, 2019 | Updated on: April 15th, 2020Carl Icahn, an American business mogul and investor has been afforded three seats at Caesars Entertainment. The billionaire acquired nearly 10 per cent stake in the casino operator. The appointments were confirmed in a press release issued by Caesars naming Icahn Enterprises CEO Keith Cozza, […]<\/p>\n","protected":false},"author":18,"featured_media":3121,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3697],"tags":[],"yoast_head":"\nCarl Icahn Affords Three Seats at Caesars - Casino News<\/title>\n<meta name=\"description\" content=\"Carl Icahn now holds three seats at Caesars Entertainment. The business mogul acquired a 9.78 per cent stake at the casino. 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