Caesars Entertainment Stock Soars on Carl Icahn Ownership
Shares of Caesars Entertainment popped as much as 18% after Carl Ichan acknowledged a large position in the casino giant.
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Shares of Caesars Entertainment popped as much as 18% after Carl Ichan acknowledged a large position in the casino giant.
Despite record occupancy levels driven by the Super Bowl and other holiday visitors, Caesars Entertainment’s first-quarter financial results showed a decline in earnings that may suggest the Strip’s lengthy growth period is slowing.
Caesars posted a 3.1% drop revenue to $2.74bn in Q1 as digital growth failed to offset land-based declines across Las Vegas and Regionals.
The casino, online gaming, and resort company reported revenue of $2.74 billion, down from $2.83 billion year-over-year, for the quarter ending March 31.
Caesars Entertainment has announced the appointment of experienced executive Kim Harris Jones to its board of directors.