Deals

Apollo, TPG Slash Caesars' Stake as Icahn Increases Holdings

Buyout firms controlled the casino operator for a decade
Billionaire becomes largest investor with latest purchases

Tourists walk towards the entrance to the Caesars Entertainment Corp.'s Caesars Palace hotel in Las Vegas, Nevada, U.S.
Photographer: David Paul Morris/Bloomberg

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Christopher Palmeri and Scott Deveau

March 8, 2019 at 11:43 PM UTC

This article is for subscribers only.

Apollo Global Management LLC and TPG Capital, the two private equity giants that controlled Caesars Entertainment Corp. for a decade, sold half their stake in the casino operator.

Apollo and TPG sold about 36.7 million shares of the Las Vegas-based company to a third party, according to a regulatory filing Friday. Hamlet Holdings, their holding company, now owns about 5.7 percent of the stock.