
In what is proven to be its biggest stock plummet in nearly a 12 months, Caesars Entertainment Corp’s offerings dropped by 11 percent on Tuesday, largely due to the trades neglecting to have rights to partake in its impending Web divisions’ IPO, it seems. The afternoon ended at $19.91 per share for Caesars, which signified the casino conglomerate’s biggest stock drop since November 14, 2012. Ironically, Caesars’ stocks have actually multiplied threefold since then, a real possibility largely linked to its expansion plans vis a vis its online arm, along with a current debt restructuring program to alleviate the pain of some the casino business’s $23 billion in redline debt. There may not be sufficient antacids or Lortabs to cope with this amount of pain, but they are providing it their shot that is best.
Divide and Conquer
Caesars which has created a few subdivisions and spinoffs in order to reallocate funds more advantageously did not offer Tuesday’s stock investors a shot at IPO rights towards their new oh-so-creatively named Caesars Acquisition Co., which will end up being the holding division for both Caesars Interactive Entertainment as well as two land casino properties: their Las Vegas Strip Planet Hollywood hotel and a $400-million Horseshoe that is going up as we speak in Baltimore, Maryland.
But that doesn’t mean shareholders won’t have a shot at the IPO; those who decide to buy stocks down the road sh