President Trump’s financial advisors executed over 1,100 equity transactions in July, which included a small sale of Caesars Entertainment (NASDAQ: CZR) stock.
The latest financial disclosure from the president shows that his financial team bought and sold stocks worth between $79 million and $270 million in July through 1,156 transactions.
Compared to previous disclosures, the July update had fewer gaming stocks but included the sale of Caesars on July 29 for $1,001 to $15,000. Politicians provide a range of values for stock transactions on their disclosure forms.
Politicians like the president are not obligated to reveal the reasons for their stock transactions. In the case of Trump selling Caesars shares, it could be due to the stock’s stagnant performance following an acquisition announcement. Interestingly, the buyer of the stock is Tilman Fertitta’s Fertitta Entertainment Inc., who also serves as Trump’s ambassador to Italy and San Marino.
Trump’s Other Gaming Trades
Trump, a former casino operator, also traded in other gaming stocks in July. His financial advisors sold between $15,001 and $50,000 worth of Rush Street Interactive (NYSE: RSI) shares on July 29.
The sale coincided with a decline in the iGaming stock despite positive second-quarter results. Since then, the stock has continued to decrease in value, falling 17.75% in the past month and 38.55% from its 52-week high.
Another gaming-related transaction in July involved the sale of $1,001 to $15,000 worth of VICI Properties (NYSE: VICI) stock on July 8. VICI is a major gaming REIT with properties on the Las Vegas Strip. The stock has declined by 14.72% year-to-date.
Speaking of the Strip…
In another transaction, Trump’s team sold $15,001 to $50,000 worth of Sphere Entertainment (NYSE: SPHR) shares on July 8. The stock has seen a 49.25% increase year-to-date.
Sphere’s CEO Thomas Dolan has a longstanding friendship with the president and also owns the New York Knicks.