Reports of possible Caesars Entertainment sale

Local News

LAS VEGAS (KLAS) — There are potentially huge changes happening for Caesars Entertainment. Reports are suggesting Caesars will be put up for sale as soon as this week.

The New York Post is reporting that Caesars is moving forward with a sale and that the major Las Vegas Strip property will be announcing it soon.

The New York Post cites sources close to the situation that the sale was approved amid pressure from billionaire investor Carl Icahn.

He is the company’s largest shareholder and he has been pushing for a sale of Caesars Entertainment for the past couple months. The New York Post is also reporting that Tilman Fertitta, owner of the Golden Nugget, Landry’s and the Houston Rockets, was invited to review the company’s financials. Sources say that means he’s in play for the sale.

Hospitality expert David Schwartz tells 8 News Now he’s been hearing rumblings about this for a while so he’s not too surprised.

“It could be possible that the company would be split up. So, you might have Harrah’s be one company, Caesar’s be another, so you could have that. Probably the casinos would all remain open because they’re worth more open than closed, so you might not see many differences at the operational level, but you could see differences on a strategic level,” Schwartz said.

He also says Caesars has had a few changes of ownership over the years. And it’s just part of the evolution of any business.

8 News Now reached out to all the parties involved in this potential sale and only heard back from Caesars Entertainment who said they have no comment.

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