Caesars Entertainment is reportedly considering several takeover offers, including a bid from Tilman Fertitta and a possible management-led buyout. The report cited unidentified sources; no deal has been confirmed.
A potential takeover could affect ownership of one of the largest US casino operators.
Quarter ended 30 September 2026
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Jesse Lynn and Ted Papapostolou resigned from the Caesars Entertainment board with immediate effect, according to a company filing. Caesars and Fertitta Entertainment received a second information request from the FTC concerning their proposed merger and have 30 days to respond; completion remains subject to the review period and other agreement conditions.
It was reported that Caesars Entertainment received Carl Icahn’s $34-per-share proposal, exceeding the $31 proposed by Fertitta Entertainment. Regulatory filings showed Caesars had not accepted Icahn’s offer.
The Nevada Gaming Commission approved licences, amended registration orders and shelf offerings for separate proposed take-private transactions involving MGM Resorts International and Caesars Entertainment. Caesars is being acquired by Fertitta Entertainment in a $17.6 billion deal, subject to shareholder, competition and gaming-jurisdiction approvals; the commission also approved licences for two Fertitta Entertainment executives. MGM remains in discussions with Barry Diller’s People Inc., with further details expected on its second-quarter earnings call, the company’s legal counsel said.
New Jersey’s Division of Gaming Enforcement said it will examine Tilman Fertitta’s proposed $17.6 billion acquisition of Caesars Entertainment. The review will follow the parties’ closing schedule and may produce findings or recommendations, including conditions for approval, for the New Jersey Casino Control Commission. The transaction remains proposed, with completion expected to take at least a year.
Fertitta Entertainment agreed to acquire Caesars Entertainment, with Caesars shareholders due to receive $31 per share under the terms, according to the announcement. Caesars’ board unanimously approved the agreement, which still requires shareholder and regulatory approvals; the deal also includes a go-shop period through 11 July.