Report: Caesars extends $18bn acquisition talks with Fertitta
Tilman Fertitta has emerged as the main candidate for the takeover since reports first began in late February, with operator's share price jumping slightly on latest suggestions
Caesars Entertainment is extending talks with billionaire investor Tilman Fertitta about a possible $18bn purchase of the operator.
As reported by Bloomberg on Monday, April 20, the two parties have agreed to extend the exclusive talks period with a view to getting a deal over the line.
The terms of the offer are said to include roughly $32 per share, and for Fertitta to take on more than $11bn in Caesars’ existing debts.
If the deal goes through, the merger is expected to create one of the US’s largest gaming and entertainment companies by market cap.
Fertitta owns the Golden Nugget land-based casino empire and is the largest shareholder in Wynn Resorts through his holding company Fertitta Entertainment.
In 2021, DraftKings agreed to acquire Golden Nugget Online Gaming for $1.56bn, making Fertitta a significant DraftKings shareholder.
Reports of bidders including Fertitta, the current US ambassador to Italy, first surfaced in February from the FT. Caesars’ share price jumped 19% as a result of the news.
Fresh reports arose last month causing another spike of 11% to $29.07, with Fertitta emerging as the prime candidate for purchase following a lower offer from rival businessman Carl Icahn.
The latest Bloomberg report of a $32-per-share bid is lower than the previous suggestion from the Wall Street Journal that the deal would value Caesars at $34 a share.
In March 2025, Icahn, who lobbied for the $17.2bn sale of Caesars to Eldorado Resorts in 2020, secured two board seats at the operator.
Caesars runs over 50 land-based casinos in North America as well as an online sportsbook and two online casinos.
Caesars’ share price opened at $26.65 on Monday morning and closed at $27.65.