Caesars board members Jesse Lynn and Ted Papapostolou stepped down, according to the report. The departures came days before a shareholder vote on the proposed $17.6bn acquisition involving Fertitta, while the FTC requested information about the deal.
The departures and FTC information request precede a shareholder vote on the proposed acquisition.
The day’s most important stories, free. One email a day.
Texas Capital analyst David Bain lowered estimates for Boyd Gaming ahead of its third-quarter results, due on 22 October, while retaining a buy rating and a $106 price target. Bain cited valuation and possible growth catalysts, including a fourth-quarter recovery in Las Vegas locals and other regions; Boyd could also consider assets Caesars Entertainment may sell, although no venues have been put on the market.
Caesars Entertainment and Fertitta Entertainment each received a second request from the US Federal Trade Commission for information and documents concerning their proposed merger, Caesars said in a filing. The companies have 30 days to respond. Caesars also disclosed that two board members appointed at Carl Icahn’s request had stepped down, and that the Icahn Group waived its right to name replacements.
Wohl & Fruchter LLP renewed its investigation into the proposed acquisition of Caesars Entertainment by Fertitta Entertainment after a filing disclosed a $34-per-share cash bid from the Icahn Group during the go-shop period. Caesars’ board supports Fertitta’s $31-per-share offer and recommended it to shareholders, who are scheduled to vote on 22 September, according to the report.
Reportedly, Caesars Entertainment has called a shareholder meeting for 22 September to consider Fertitta Entertainment’s acquisition offer. Shareholders will vote on the proposed takeover.
Allwyn UK is restructuring its leadership, creating social impact, marketing and digital roles while phasing out three executive positions, the company said. Alastair Ruxton will become Director of Social Impact, Stephen Taylor will start as interim Chief Marketing Officer on 17 November, and recruitment for the Chief Digital Officer role is ongoing. Mark Smith will remain as a technology strategy adviser until June 2027; Richard Dawkins and Sarah Venning will also leave the company.
The company is adding three senior positions: a Director of Social Impact, a Chief Marketing Officer and a Chief Digital Officer. Under the restructuring, three C-level positions will be removed.