Golden Nugget CEO and billionaire Tilman Fertitta offered around $7 billion to acquire Caesars Entertainment, the Wall Street Journal reports.
Key Takeaways
- Fertitta’s offer is higher than Carl Icahn’s, which is still being considered.
- Nothing is reportedly imminent between the two sides.
- It's possible nothing comes of the talks.
Fertitta is in talks with the casino, iGaming, and hospitality operator, and his bid is reportedly $1-per-share higher than the cash offer of $33 per share that Carl Icahn's company made, which hasn’t been rejected yet.
Fertitta’s attempt to acquire Caesars, headquartered in Las Vegas, isn’t imminent, and nothing could come of the discussions, according to the WSJ. Fertitta, owner of the Houston Rockets, spoke with Caesars about merging in 2018, and he was listed among a group of potential bidders when talks of a Caesars takeover began last month.
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Big brand
The Vegas brand was trading at around $28 a share Friday, but Caesars’ stock has fallen by over 70% from five years ago. In 2019, Icahn acquired a significant stake in Caesars and pressured the operator to sell.
Caesars was absorbed by El Dorado Resorts in 2020 and has incurred a $20-million debt as Las Vegas visitation continues a year-over-year declining trend. The gaming and hotel operator still reported $6.62 billion in net gaming revenue in 2025, a 5% year-over-year increase. Much of that, though, has come from properties outside of Las Vegas.
Caesars operates over 50 casino-resorts in the U.S. The company also has an online sports betting platform in 21 states and an online casino in several jurisdictions.
