Billionaire and businessman Tilman Fertitta has agreed to purchase Caesars Entertainment for $5.7 billion in an all-cash equity deal.The news of Tilman Fertitta buying...
Tilman Fertitta to buy Caesars for $7 billion
The Wall Street Journal reported on March 11, 2026, that billionaire and U.S. ambassador to Italy and San Marino, Tilman Fertitta, is in discussions to buy casino operator Caesars Entertainment for around $7 billion after topping the offers of other interested parties.
Fertitta’s Fertitta Entertainment company owns the Golden Nugget casino chain, more than 600 restaurants, resorts, and hotels, including Landry’s, Morton’s, and Saltgrass Steak House, and he also owns the NBA’s Houston Rockets.
Fertitta’s negotiations include paying approximately $34 per share for Caesars, which represents a premium of around 31% over the company’s closing price on March 10, 2026. Additionally, Caesars had received another all-cash offer from investor Carl Icahn’s Icahn Enterprises firm, comprising around $33 per share.
It’s expected that Caesars’ Chief Executive Tom Reeg would be involved with the bids; however, real investment trust Vici Properties, which is a huge landlord to Caesars, is viewed as a likely barrier to a takeover. But according to the report, both offers from Fertitta and Icahn are created in such a way that could let the company be split without Vici’s approval.
Before the takeover interest increased, Caesars’ shares had fallen over 40% over the previous year, but on March 11, 2026, the shares increased by 12% and closed at $29.07, for context, Caesars operates more than 50 resorts under different brands, including Caesars, Eldorado, Circus Circus, and Harrah’s.
Caesars Entertainment has concluded Q1 2026 with $2.87 billion in revenue, showing a 2.7% year-on-year rise, compared to the $2.79 billion revenue for the same quarter in...
