CZR Caesars Entertainment Inc

$CZR Am I reading this right. Shareholders might not get paid out until June of 2027? That’s fucking criminal, the deal was agreed upon in May so essentially shareholders will have to wait a full year for a 4.7% gain. You can get 3.5% right now in a high yield. Might as well sell now and just put it into a plain ETF/Mutual Fund for 10% in that timeframe.

$CZR Caesars shareholders approved the 17.6 billion take-private Tuesday: 133.3M shares in favor, about 65.4% of outstanding, per a Wednesday 8-K. Hurdle cleared. The deal pays 31 per share in cash, a 49% premium to the unaffected price before reports surfaced in February. The 17.6B headline includes about 11.9B in debt, so the equity check is roughly 5.7B. The stock closed Friday at 29.60, about a 4.7% spread to the 31 price. The regulatory leg is the reason: the FTC issued a second request on Sept 14. Caesars vs Fertitta's Golden Nugget compete in six US markets including three in Nevada. The 2020 Caesars-Eldorado deal forced divestitures in Lake Tahoe, Bossier City, and Kansas City. The ticking fee: if it is not closed by June 26, 2027, holders get an extra 0.007150 per share per day from July 1, 2027. That is roughly 8.4% annualized on the deal price, paid for waiting. Same week Barry Diller walked away from his 18B-plus MGM bid. Two Vegas take-privates, opposite directions.

$CZR , the online sports betting app is crap today. It shows I’m located in NJ when I’m actually in CO. I have been to NJ in 30 years?