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Icahn’s Caesars stake may not concern company leaders

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2024-08-21

Icahn’s Caesars stake may not concern company leaders

Now that the number of Caesars Entertainment shares owned by billionaire investor Carl Icahn are known, members of the company’s boardroom are probably breathing a bit easier.

The 88-year-old corporate raider owns a little more than 2.4 million shares in the casino operator, paying just less than $97 million in May, he reported in a 13F filing with the Securities and Exchange Commission last week.

The shares took a hit recently and Icahn’s stock was valued at $90 million as of last week.

Caesars has more than 216 million shares outstanding on the Nasdaq. So Icahn’s roughly 1 percent stake isn’t going to move the company’s needle.

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