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Aaron Spatz is the writer of SEC Live Filings Digest, detailing the news of companies trading on U.S. stock exchanges. The Filings Digest is but one component of the greater website SEC Live, which specializes in making SEC filings easy to read, research, navigate, and much more.
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  • Caesars Entertainment Shares Increase 13% Over News Of Spin-Off 0 comments
    Jul 11, 2013 10:52 AM | about stocks: CZR

    Originally published at www.seclive.com

    Filing in Focus: Caesars Entertainment S-4 / Amendment, June 27, 2013

    Caesars Entertainment Corporation (NASDAQ:CZR) shares have increased 12.8% following revelations made in its most recent registration statement that it intends to create an internet gaming spin-off, stating investors would share ownership along with the company. Caesars shareholders would get a non-transferable right to purchase shares in Caesars Acquisition Company for $9.43 per share, which would represent shareholders in the new Caesars Growth Partners spin-off. The company already has an online gaming presence internationally, primarily in Great Britain, France, and Italy, with plans this year to launch online gaming in the state of Nevada. Caesars Entertainment is offering 125 million shares in the new company, while majority shareholders Apollo Global Management and TPG Global will own at least 42% in the new venture.

    See below screenshot from my own filing research.

    (click to enlarge)

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Stocks: CZR
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