Caesars Entertainment's IPO has netted impressive results during its first action on the NASDAQ exchange this week.
The company started by launching 1.81 million shares at $9.06 per share and climbed up an impressive 80% and finishing in the $16 per share range. The company has been valued at $2.24 billion as a result of the IPO.
Caesars has 70% of its equity owned by Hamlet Holdings, through private equity firms Apollo Management and TPG Capital. Caesars Currently holds $22 billion in debt.
Caesars Entertainment is planning to use the proceeds from the IPO to fund development projects, acquisitions and maintenance within the company. Currently Caesars has more than 50 properties in the United States, where it generates 90% of its sales.