Icahn Backs Eldorado Deal to Buy Caesars Casino

The video discusses the trading performance of a casino operator, highlighting Carl Icahn's role in backing El Dorado Resorts' $8.6 billion offer to acquire Caesars. The offer represents a 28% premium to Caesars' closing price. Icahn, a major shareholder, has been critical of Caesars' board but praised their recent actions. The video also covers Caesars' significant debt, stemming from a 2008 leveraged buyout, and the strategies to reduce it, including selling real estate assets. Wall Street's mixed reactions to the deal and El Dorado's management's track record are also discussed.

What are the expected benefits and cost synergies identified by the company?

How has El Dorado's share price performed over the past year compared to the S&P 500 Super Composite Casino and Gaming index?