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Caesars Enjoys Post-Ides of March Rally Midday

Investing.com - Caesars Entertainment was among the top movers midday on Monday after reports that it is in talks with U.S. casino operator Eldorado Resorts on a possible merger.

Analysts have speculated on a merger between the two in the past, as Eldorado owns 26 properties across the U.S. and Caesars is one of the dominant casino companies in Las Vegas.

The potential merger talks, first reported by Reuters, come after Caesars agreed to give billionaire investor Carl Icahn three board seats to his representatives. Icahn has been pushing for the company to sell itself.

Caesars (NASDAQ:CZR) jumped 2.4%, while Eldorado (NASDAQ:ERI) slipped 1.5%.

Elsewhere in the sector, MGM Resorts International (NYSE:MGM) inched up 0.3%, while Wynn Resorts (NASDAQ:WYNN) was down 0.04% and Las Vegas Sands (NYSE:LVS) fell 0.1%.

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