Caesars Entertainment Launches Public Offering Of 7 Mln Shares

(RTTNews) - Caesars Entertainment Corp. (CZR) said Thursday that it has commenced an underwritten public offering of 7 million shares of its common stock.

The company expects to grant the underwriter of the offering an option to purchase up to 1.05 million additional shares of its common stock.

Caesars and its financial sponsors, affiliates of TPG Capital LP and Apollo Global Management, LLC, have agreed to a lock-up (subject to certain exceptions) for a period of 60 days after the date of the prospectus supplement for the offering.

Citigroup is acting as the sole underwriter for the offering.