Long-Term Returns of Carl Icahn’s 10 Activist Targets

In this article, we discuss long-term returns of Carl Icahn’s 10 activist targets. You can read our detailed analysis of Icahn’s activist targets and their historical performance, and go directly to read Long-Term Returns of Carl Icahn’s Activist Targets. 

10. Caesars Entertainment, Inc. (NASDAQ:CZR)  

Stock Return: 34.82%
S&P 500 Return: 16.98%
Investment date: 2/19/2019

Caesars Entertainment, Inc. (NASDAQ:CZR) is a gaming and hospitality company that manages domestic properties with slot machines, video lottery terminals, and e-tables across the US. In 2019 Icahn scooped nearly 10% of the company’s shares, giving him control of the board and in the driver’s seat to plot its next move. He would later increase his stakes in the casino company to 15.6%.

With control of the board, Icahn would engineer the stepping down of Mark Frissora as CEO after being given three seats on the board. Through his activism, Eldorado would come calling and acquire Caesars Entertainment, Inc. (NASDAQ:CZR) for $17.3 billion. 

Icahn was one of the beneficiaries as he gained 34.82% from his investment against a gain of 16.98% for the S&P 500 over the same period.