SBD/12/Sponsorships Advertising Marketing
BALLY'S BOSS TAKING ANOTHER PASS AT CAESARS?
Published December 12, 1994
Dan Dorfman reports that Bally Entertainment CEO Arthur Goldberg "appears to be coming back to the takeover wars." Goldberg is threatening to take over Caesars World. "Wall Street's reaction: ho-hum. That's despite the fact ... that Bally bought more than 1.5% of Caesars' shares." Bally is also seeking the FTC's OK to buy more than 15% of Caesar's stock. "Reason for the ho-hum: Goldberg's lack of credibility among many pros. In brief, he often buys stakes in companies and then dumps them after they move up in price." But Dorfman writes that Goldberg -- "aware his credibility is at stake" -- will not walk away "easily from his goal of snaring Caesars" (USA TODAY, 12/12).