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ERI - Caesars: Post Merger Challenges And Opportunities Pose A Big Bet In The U.S. Casino Space
Caesars Entertainment Inc (New) Com
“How do you make money? Spin offs, split-ups, liquidations, mergers and acquisitions….” Mario Gabelli
From the above quote it would appear that Messers Gabelli and Icahn read from the same playbook regarding the imminently closing $17.3B merger deal of late last year between Eldorado Resorts, Inc.(NASDAQ:ERI) and Caesars Entertainment (NASDAQ:CZR). Both these guys nailed it in our view because if you appraise the logic, it made great sense.
Caesars had great assets but had become too bureaucratic, sunken in debt with an uncertain vision going forward. The result: A stock price below the