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Billionaire Carl Icahn increases investment in Take-Two to nearly 10 percent

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Banking on it

Billionaire Carl Icahn increased his stake in publisher Take-Two Interactive to nearly 10 percent yesterday, it was reported in a SEC filing.

Icahn owned 8.7 percent of the publisher's shares before filing with the SEC to increase his shares to 9.57 percent. This represents 8.686,074 shares of the company worth roughly $80 million.

The investor was previously involved in board changes at Take-Two in 2010 in which three board members stepped down, replaced with members nominated by Icahn, including his son Brett Icahn.

Last week Take-Two revealed in its financial report net revenue of more than $273 million in its second quarter ending Sept. 30, exceeding the publisher's initial forecast.