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Sept. 28, 2020, 8:12 a.m. EDT

UPDATE: Caesars Entertainment to offer 30 million shares in syndicated deal

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By Ciara Linnane

Caesars Entertainment Inc. /zigman2/quotes/205281174/composite CZR +2.75% said Monday it has commenced an offering of 30 million shares in a syndicated deal, joining the many companies issuing record levels of debt and equity during the pandemic. Proceeds will be used for general corporate purposes, including potentially the previously announced possible cash offer for William Hill Plc. Caesars said earlier that it is in advanced talks over a possible 2.9 billion pounds ($3.7 billion) cash offer for the U.K. betting company. Deutsche Bank and J.P. Morgan are underwriting the share offering. Caesars shares rose 4% premarket, but have fallen 4.3% in the year through Friday, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.41% has gained 2.1%.

/zigman2/quotes/205281174/composite
US : U.S.: Nasdaq
$ 54.89
+1.47 +2.75%
Volume: 1.27M
Oct. 20, 2020 1:46p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$10.90 billion
Rev. per Employee
$109,947
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/zigman2/quotes/210599714/realtime
US : S&P US
3,475.13
+48.21 +1.41%
Volume: 1.17B
Oct. 20, 2020 1:46p
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