Carl Icahn's Reported Stake in Caesars Entertainment Boosts Stock

The billionaire investor's history with the casino operator hints at potential strategic moves.

Shares of Caesars Entertainment surged 15% following the news.
Icahn's past involvement led to significant changes at Caesars, including a merger with Eldorado Resorts.
The exact size of Icahn's current stake remains undisclosed.
Caesars has been focused on debt reduction and expanding its digital gaming segment.
Icahn is known for strategies that enhance shareholder value through asset sales and restructuring.