Caesars Shares Jump As It Files For Planned Split

Caesars shares soared as much as 14% in strong volume Wednesday after it said in a regulatory filing it’s moving ahead with plans to split the company in two. Caesars, the biggest owner of casinos in the U.S., will offer as much as $1.18 billion in stock to fund its emerging online gambling business. The company will distribute rights to shareholders to buy as many as 125.4 million shares of newly formed Caesars Acquisition Co. at $9.43 each. Caesars Entertainment and Caesars Acquisition are forming Caesars Growth Partners, a venture investing firm for online gambling and some casinos. Now, Caesars…