David Tepper is now the new owner of the Carolina Panthers NFL team, after sealing a deal last week to purchase the team for approximately $2.2 billion. Tepper is not simply an investor in the NFL but also the casino sector. Tepper’s Appaloosa Management recently increased their casino investments and the NFL allegedly does not have a problem with the owner’s foray in the gambling industry.
Appaloosa Management increased their stake in gambling stocks, such as MGM Resorts International and Caesars Entertainment during the first quarter, based on regulator filings, as reported by the New York Post. The $17 billion company also added Boyd Gaming within their investment portfolio.
The policy of the NFL league prohibits owners of groups from operating casinos, however, the owners can invest in casinos so long as they’re not personally involved with managing the venue. According to a spokesperson for the NFL, they told the Post which Tepper’s investments were vetted and they satisfied ownership and weren’t a problem back in 2009 when the proprietor was involved with all the Steelers football team for a minority owner.
It had been announced last week that Tepper was approved to become another owner of the Carolina Panthers, after the team announced an agreement was signed together to sell the NFL team.
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