At this point, Carl Icahn’s intentions are quite obvious. In fact, his tactics make it clear to industry leaders that a sale of Caesars Entertainment could soon be on the horizon. Not to mention, the 83-year-old has been selling off a lot of his properties. Which, is another clear sign that he might throw in the towel. However, Icahn isn’t planning on going out that easy or quiet for that matter. So the only question that remains is, what will the top shareholders do next?
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Deal or No Deal
For the past few weeks, a hot, fast sale of Caesars is all that the old man can think about it seems. But, there’s still a good chance Icahn won’t get his final wishes. But before we get into those details, let’s first look at the perks of a sale. Sports betting in America is thriving. So if the casino merges with another operator like Eldorado, as it was once rumoured. Then Eldorado could take advantage of other key states offering legalized sports betting where Caesars already has a foothold. But Sports betting wouldn’t be enough to drive Caesars out of debt and put them in a favourable financial situation. In other words, it wouldn’t be a safe bet to bank only on sports betting to save Caesars.
Just Say No
The truth is, Caesars Casino may be the same age as Icahn, although the operator still has a bright future ahead. So, there’s definitely got to be a better way forward than selling fast just to please a billionaire. In fact, Caesars is booming and pushing forward might be a better alternative. And if they don’t give up now, it’s likely they could pull themselves out of the money hole and get back on top. Other than that, it’s going to take an exceptional buyer to purchase debt. Plus, whatever else is needed to keep them thriving forward. With that in mind, it might not be worth selling at the moment. After all, the company already removed $16 Billion of debt in less than two years.