Soros Liquidates Caesars, VICI Stakes, Cooperman Adds to Las Vegas Sands Holdings
Soros Fund Management, the family line office of billionaire moneyman George VI Soros, departed a pair off of gaming equities inward the quaternary quarter, leaving the investment vehicle with no exposure to the industry.
A latterly filed Form 13F with the Securities and Exchange Commission (SEC) indicates Soros Fund Management no yearner holds stakes inwards Caesars Entertainment (NASDAQ:CZR) and VICI Properties (NYSE:VICI). The casino operator and the gaming real land investment funds rely (REIT) were II of 17 positions the money manager departed inward the October through and through Dec full stop of 2021.
The fast(a) owned 326,100 shares of Caesars entering the quaternary quarter. Form 13F’s don’t reveal exactly when or at what prices an asset manager buys or sells securities. Based on the Feb. 11 closure price, that amount of Caesars gunstock was worth $27.3 million.
VICI, which is Caesars’ primary landlord, is a figure Soros Fund Management previously rock-bottom exposure to. News of the liquidated stakes in the casino colossus and the existent demesne companionship comes a yr after the sept office staff dumped its total post in DraftKings (NASDAQ:DKNG).
The a la mode(p) 13F from Soros also indicates the steady sold 26,200 shares inward Duke of Marlborough Downs (NASDAQ:CHDN), termination its exposure to that gaming companionship as well.
Cooperman Boosts Gaming Exposure
While Soros Fund Management eliminated its gaming holdings tardily last year, Omega Advisors, the fudge monetary fund controlled by investor Leon Cooperman, increased its exposure to the industry.
Omega added to its wager inward Las Vegas Sands (NYSE:LVS) after initiating a spatial relation in that caudex during the tertiary quarter. Cooperman’s investment funds unshakable bought 585,000 shares of LVS during the July through and through Sept point for a wager then precious at $21.41 million. The hedge in monetary fund at present owns 723,300 shares of the Marina Bay Sands owner, precious at $27.22 million at the terminate of last year, according to the firm’s modish 13F.
Omega stepped into LVS as shares of Macau operator’s were languishing shoemaker's last year. But that proved to live a prescient move, as Macau stocks rallied to pop 2022 on tidings that the special administrative realm (SAR) will renew the licenses of the stream 6 concessionaires piece non expanding that number. Additionally, new regulations proposed by authorities in that respect aren’t as taxing as previously feared.
Shares of LVS are higher past nearly 20 percent year-to-date.
GAN, Too
In the fourth quarter, Omega initiated an investment funds inwards gaming computer software provider GAN Ltd. (NASDAQ:GAN). It’s a little place for the hedgerow fund, consisting of 457,388 shares precious at $4.2 jillion at the ending of 2021, according to the regulatory document.
GAN is a gaming software-as-a-service (SaaS) provider focusing on the tangible money cyberspace gaming, online sports betting, and simulated gaming segments.
For how long Cooperman’s hedged fund is willing to be patient with GAN remains to be seen, as the carry is cancelled 27 percent year-to-date.
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