These guys have $$$ (big BIG $$$) and equally big political pull
George Soros, John Paulson and Leon Cooperman, three of the most successful hedge fund managers ever, quietly participated in a rights offering and became major shareholders in Caesars Acquisition Co., a spinoff from casino company Caesars Entertainment that has ownership in Caesars’ online gambling assets.
Their stakes–previously unreported–are all part of an unprecedented bet on the future of the $60 billion casino business in America, as states from New Jersey to Delaware and Nevada legalize a practice that the Department of Justice said was illegal just two years ago. They were joined by billionaire private equity managers Leon Black, David Bonderman, Marc Rowan and Joshua Harris, whose two respective buyout firms are the biggest shareholders in Caesars Entertainment and doubled down by investing a combined $484 million in Caesars’ online gambling vehicle.
George Soros, John Paulson and Leon Cooperman, three of the most successful hedge fund managers ever, quietly participated in a rights offering and became major shareholders in Caesars Acquisition Co., a spinoff from casino company Caesars Entertainment that has ownership in Caesars’ online gambling assets.
Their stakes–previously unreported–are all part of an unprecedented bet on the future of the $60 billion casino business in America, as states from New Jersey to Delaware and Nevada legalize a practice that the Department of Justice said was illegal just two years ago. They were joined by billionaire private equity managers Leon Black, David Bonderman, Marc Rowan and Joshua Harris, whose two respective buyout firms are the biggest shareholders in Caesars Entertainment and doubled down by investing a combined $484 million in Caesars’ online gambling vehicle.