Soros Now Major Caesars Shareholder
Last year’s Chapter 11 reorganization of the largest operating unit of Caesars Entertainment Corp. has left the family business of billionaire George Soros as one of the top shareholders of the operator.
Bloomberg reports that Soros Fund Management held 34.5 million shares of Caesars, valued at $436 million, as of Dec. 31, according to regulatory filings last week—4.89 percent of Caesars’ outstanding equity. .That is just shy of the 5 percent threshold at which investors are required to file a Schedule 13D with the U.S. Securities and Exchange Commission.
Soros is now among the 10 biggest shareholders of Caesars thanks to the reorganization, which distributed stock in both Caesars and its new real-estate investment trust, Vici Properties Inc., to creditors. Soros also owns 7 percent of Vici.