The talks between Caesars Entertainment and Tilman Fertitta over a potentially lucrative takeover deal are set to continue after the extension of the exclusivity period.
First reported by Bloomberg, which cited people familiar with the discussions, the negotiating window has been pushed back due to the death of Fertitta’s father on 9 April.
Reports emerged last month that Fertitta, the owner of Golden Nugget Casino and Fertitta Entertainment, was interested in acquiring Caesars and its portfolio of 52 casinos across the US.
Fertitta has been in talks to purchase Caesars for $32 per share, according to people close to the negotiations. The financing would include between $2bn and $3bn in equity, as well as $4bn and $5bn in new borrowing against the assets. Fertitta would also assume more than $11bn in Caesars debt.
If successful in his pursuit, Fertitta would be adding Caesars’ assets to his portfolio of Landry’s restaurants and current Golden Nugget properties.
Tough times in Las Vegas
Caesars has felt the impact of a troubling trend across Las Vegas that has seen a dwindling of visitor numbers, which has led to consecutive net losses in the past four quarters.
In February, the company declared net losses for Q4 2025 of $250m, down compared to a net income of $11m in 2024. Its Las Vegas revenue was down 3.4% year-on-year to $1bn from $1.1bn in Q4 2024.
Alongside owning Golden Nugget Casinos, Fertitta also has a 12.3% stake in Wynn Resorts, indicating his ambition to improve his footprint in Las Vegas.
Caesars is set to announce its first-quarter earnings for 2026 later this month, and there is no doubt that executives such as Tom Reeg, the company’s Chief Executive Officer, will be grilled by investors over the potential sale.
According to reports from Bloomberg, a role may remain for Reeg if the takeover goes through, alongside the Carano family, some of whose members sit on Caesars’ board or in the executive suite.
Caesars’ shares closed at $27.64 following a closing of the markets on Tuesday (21 April).
