Caesars Entertainment, Inc. (NasdaqGS:CZR) has extended the period of exclusive talks for an $18 billion takeover by billionaire Tilman Fertitta, Bloomberg News reported on April 20, 2026, citing people familiar with the discussions. Fertitta, the United States ambassador to Italy and San Marino and owner of Fertitta Entertainment, offered $32 per share for the Las Vegas strip's prized casino operator and would assume over $11 billion in Caesars' debt, Bloomberg said. Caesars shares were up 2.1% at $27.80 apiece.
Falling visitation to Las Vegas has impacted revenue for the city's resorts, hotels and casinos, including Caesars, which has also struggled with its online betting segment to compete with larger peers like FanDuel and DraftKings. The financing for the takeover offer includes $2 billion to $3 billion in equity and $4 billion to $5 billion in new borrowing against the assets, Bloomberg reported. Fertitta plans to combine his Landry's restaurants and Golden Nugget Hotel and Casinos properties with Caesars, creating an even larger casino giant, the report added.
Caesars, Landry's and Golden Nugget did not immediately respond to Reuters' requests for comment.
Caesars Entertainment, Inc. is a casino-entertainment company and a diversified gaming and hospitality provider. It operates primarily under the Caesars, Harrah's, Horseshoe, and Eldorado brand names. Its segments include Las Vegas, Regional, Caesars Digital, and Managed and Branded, in addition to Corporate and Other. It offers diversified gaming, entertainment and hospitality amenities, destinations, and a full suite of mobile and online gaming and sports betting experiences. It owns, leases or manages an aggregate of 52 domestic properties in 18 states. It also operates and conducts sports wagering across 34 jurisdictions in North America, 27 of which offer online sports betting, and operates iGaming in five jurisdictions in North America. It operates the Caesars Sportsbook app, the Caesars Racebook app, the Caesars Palace Online Casino app and the new Horseshoe Online Casino app. It offers various online casino games, including slots, table games, live dealer and video poker.
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