Caesars Entertainment is reportedly considering takeover offers following interest from several potential bidders, including Tilman Fertitta, as well as a possible management-led buyout. Discussions remain unresolved and could collapse; no offer has been accepted.
A potential change of control could affect Caesars’ ownership and financing, but discussions remain uncertain.
Quarter ended 30 September 2026
The day’s most important stories, free. One email a day.
Caesars Entertainment shareholders approved Fertitta Entertainment’s proposed acquisition at a special meeting, according to an SEC filing. The merger received 133,313,001 votes in favour and 4,276,986 against, with 5,687,952 abstentions; regulatory and other closing conditions remain. The all-cash deal values Caesars at $17.6bn including debt and offers $31 per share.
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.