Tilman Fertitta in Talks to Buy Caesars in $7 Billion Deal

Billionaire businessman Tilman Fertitta is reportedly in talks to acquire casino and hotel operator Caesars Entertainment in a deal valued at roughly $7 billion. According to people familiar with the matter, Fertitta’s company, Fertitta Entertainment, has entered exclusive discussions with the gaming company about a potential takeover.

The proposal being discussed values Caesars at about $34 per share. The offer reportedly tops a competing all‑cash bid of roughly $33 per share from Icahn Enterprises, the investment firm controlled by billionaire investor Carl Icahn, who is also a shareholder in Caesars.

News of the potential takeover sparked strong market reaction. Shares of Caesars Entertainment surged in trading following the reports, with investors pricing in a possible acquisition premium. Prior to the reports, the company’s shares had closed around $26, giving Caesars a market capitalization slightly above $5 billion.

Despite the ongoing negotiations, no definitive agreement has been reached and sources say an announcement is not imminent. The discussions could still collapse without a deal. If completed, the transaction would mark one of the most notable consolidation moves in the U.S. casino and hospitality industry in recent years.