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Caesars Entertainment Sells off 1.5 percent of shares
Thursday, October 4, 2012 : CAESARS SELLS OFF PART OF ITS INTERACTIVE DIVISION
Around 1.5 percent of available shares sold to Rock Gaming
Industry observers were trying to work out this week why Caesars Entertainment would want to sell off a piece of its Montreal-based Caesars Interactive Entertainment subsidiary just when the legislative climate in the United States seemed to be improving.
Reports speculate that around 1.5 percent of the available shares in the interactive division were sold to Rock Gaming, a company with which the Caesars parent group is currently partnering on land casino ventures.
Securities and Exchange Commission filings suggest that Rock coughed up some $60.8 million for an undisclosed piece of the Caesars Interactive action, with a further $19.2 million worth accessible as an option.
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