Billionaire investor Carl Icahn has picked up a 15.53% share in Caesars Resorts, making him the largest stakeholder in the global betting firm.
Icahn is the largest shareholder and is looking to put the company up for sale, maximizing his investment in the resort group, which is based out of Nevada. The announcement comes after Icahn purchased an additional 10% stake in the firm, and was revealed in an SEC filing. Now that Icahn has more than a 10% share in the company, Icahn is required to obtain a Nevada gaming license.
Icahn has thought that selling Caesars is in its best interest, and he upped his shares in the group to help make that happen. His position will now allow him to negotiate any potential deals moving forward.
We'll follow any developments on a potential sale and update readers as we learn more.