Overview

• 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.