Caesars jumps on report Carl Icahn pushing casino operator to sell

Caesars Entertainment shares are 6 percent following a Wall Street Journal report that shareholder Carl Icahn is pushing the casino operator to sell itself.

Eldorado Resorts has expressed interest in a deal with Caesars, sources told the Wall Street Journal.

Caesar’s previously rejected a bid by Tilman Fertitta’s Golden Nugget.

Icahn got involved after a handful of Caesars shareholders asked him to assist in the company’s sale. He hasn’t ruled out launching a proxy fight, which he would need to do by a March 1 deadline, sources told the Wall Street Journal.

Mr. Icahn and his company, Icahn Enterprises LP, have a large history of investing in casinos. Icahn previously owned properties including the Sands Atlantic City in New Jersey and Stratosphere in Las Vegas.

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