Video slot machines at Caesars Palace in Las Vegas, Nevada.










George Rose | Getty Images

Video slot machines at Caesars Palace in Las Vegas, Nevada.

Billionaire activist investor Carl Icahn is building a stake in casino company Caesars Entertainment, sources familiar said.

MGM Resorts International. MGM is on a cost-cutting initiative to boost profit by $300 million annually.

Last year, Icahn cashed out his stake in Tropicana Entertainment, selling it for $1.85 billion to Gaming and Leisure Properties and Eldorado Resorts. In 2017, he sold the shuttered Turmp Taj Mahal casino in Atlantic City to Hard Rock International.

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