Caesars Entertainment Corp. Is In Discussions With Carl Icahn Over This

Caesars Entertainment Corp., a U.S. casino operator, is in talks with well known investor Carl Icahn over giving him a role in helping the company find a new CEO.

The agreement between the company and Icahn would also give Icahn board seats said sources familiar with the situation.

It was recently that Ican said he had a 9.8% stake in the company and that he could nominate a slate of directors to the company’s board. Ican had also asked the company to launch a process to explore a sale but Caesars said that all deals it had already explored thus far undervalued it and did not create enough value for shareholders.

According to the sources, Ican had also proposed that CEO of Affinity Gaming be the successor to Mark Frissora, who is stepping down from is role as CEO of Caesars later this year.

The deadline for Icahn to nominate his own board directors expires on March 1st.

Caesars said on Thursday that it expected “to continue a constructive dialogue” with Icahn.

Disclaimer: We have no position in Caesars Entertainment Corporation (NASDAQ: CZR) and have not been compensated for this article.