7 stories found
Billionaire Tilman Fertitta's company has agreed to acquire Caesars Entertainment in a deal valued at $17.6 billion, including debt. This acquisition will see a major change in ownership for the iconic Las Vegas casino operator.
Caesars Entertainment saw its stock gain following reports that banks are preparing financing for a potential deal involving Tilman Fertitta.
Shares of Caesars Entertainment jumped following reports that billionaire Tilman Fertitta is in discussions for a potential $7 billion takeover of the casino and resort giant, with the Wall Street Journal confirming the talks.
Billionaire Tilman Fertitta's acquisition of a significant stake in Caesars Entertainment is seen as a long shot, given the casino operator and Las Vegas itself have been struggling.
Caesars has extended the discussion period regarding a potential $18 billion takeover bid from Tilman Fertitta. The move allows more time for negotiations concerning the significant acquisition.
JPMorgan suggests that Tilman Fertitta's ongoing pursuit of Caesars Entertainment could potentially spur a wave of casino sales across the industry.
Tilman Fertitta in Talks to Buy Caesars for $7 Billion, WSJ Says Bloomberg