Stock Buyback at Caesars: Caesars World Inc.,...
From Times Staff and Wire Reports
Stock Buyback at Caesars: Caesars World Inc., the Los Angeles-based casino company, said it plans to make a tender offer for the publicly traded shares of Caesars New Jersey, its majority-owned subsidiary that owns the Caesars Palace casino hotel in Atlantic City. Caesars World said it will pay $22 a share, or $47.9 million, for the 2.18 million outstanding shares of Caesars New Jersey. The tender offer is expected to begin next week. Caesars New Jersey’s stock closed up $5.875 at $22 a share on the American Stock Exchange.
