Gambling Giant Caesars Entertainment Initiates New IPO

 Caesars Entertainment Corp., one of the world’s largest entertainment and casino firms cancelled its attempt to go public almost a year ago. Interest in IPO action has been strong since the November announcement of an IPO offering from Zynga  the gaming company and Groupon the fabulously successful coupon start up.

Caesars Entertainment Corporation is looking at a new IPO offering because of this new found strength in the stock market. According to Renaissance Capital there are nine offering coming up and if all are priced accordingly it will signal an end to the IPO slump that has been progressing since December of 2010. Caesars is expecting to raise a lot less cash this time out. Sources say that the $532 million that the company was seeking last year was unrealistic considering the condition of the market back then. Now Caesars is only looking to find $50 million. This figure could vary depending on the circumstances the operator finds itself in. Brands that include Harrah's, Caesars and Horseshoe are part of the Caesars Entertainment stable which runs fifty two enterprises in America and abroad.

In one of the biggest leveraged buyouts in history Apollo Management Group, and Texas Pacific Group paid $17.1 billion and took on $12.4 billion in debt in 2007 to take Caesars, originally known as Harrah's, into the private sector. The ability to generate cash flow and prime time real estate were a big draw for investors keen on gaining value for their dollars. Caesars need for cash to bring down its debt is the basic reasoning behind this attempt to sell some shares. The firm plans to list on the Nasdaq exchange under the CZR ticker symbol but no other details were available at this time.

online-casinos.com