As we reported this week, Carl Icahn is now able to sell the former Trump Plaza. That’s been vacant for five years and has become an eyesore for everyone. However, there was a breakthrough last week as to what might be next for the old hotel and casino. Apparently, Icahn couldn’t do anything with the property because he didn’t have possession of the deed.
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Which, he acquired last week by paying $3 Million to the previous management group that held it. Not to mention, the Plaza is the last casino real estate in his portfolio. Since he sold off Tropicana, it seemed clear that he is stepping away from the industry. Now, we’re learning he might have some stake in Caesars!
Caesars Stock Jumps After Reports
Just when you thought the active billionaire might be getting out of the game, he surprises everyone. In fact, after reports surfaced of his possible stake in Caesars the casino’s stock bounced to 9.01% and closed out at $8.71 on Friday.
Unfortunately, there’s no official word yet as to how much stake Icahn has in Caesars. Although if reports are true, it means he’s getting in on Caesars for a discount. Indeed, if you remember, not long ago Tilman Fertitta offered to buy Caesars at $13 a share in cash.
Facts or Fiction
At this point, everyone is waiting for either Icahn or Caesars to speak on the reports, although both have been hush about it. Therefore, it’s only hearsay at this stage. But the truth still remains, just mentioning something of such magnitude can have a powerful impact on the stock market. Nonetheless, it happened, and now we must wait for the confirmation to know if the reports are true or not. So stay tuned, we should learn the truth together real soon!