Global Infrastructure SherpaTilman Fertitta in talks to acquire Caesars Entertainment for $7 billion
USD7B
Deal Value
Billionaire Tilman Fertitta is in exclusive talks to acquire Caesars Entertainment for approximately $7 billion, topping a competing offer from investor Carl Icahn's firm. Fertitta's company, Houston-based Fertitta Entertainment, is discussing paying around $34 a share for the gambling empire, which operates nine resorts on the Las Vegas Strip. This potential deal would significantly expand Fertitta Entertainment's portfolio, adding over 50 resorts to its existing holdings, which include the Golden Nugget casino chain and Landry's.
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Counterparts (4)
Buyer
I
Icahn Enterprises
Icahn Enterprises L.P. is a diversified holding company with significant investments across various sectors including Investment, Energy, Automotive, Food Packaging, Metals, Real Estate, and Home Fashion. It employs approximately 19,000 people across its consolidated subsidiaries and manages an investment fund segment with AUM of approximately $4.3 billion.
F
Fertitta Entertainment
Houston-based multinational hospitality, restaurant, gaming, and entertainment conglomerate with over 600 properties and 60,000 employees worldwide. Focuses on owning, developing, and operating a diverse portfolio of commercial real estate assets.
Tilman Fertitta
Houston-based hospitality, entertainment, and gaming conglomerate with over 60,000 employees, owning and operating a diverse portfolio of restaurants, hotels, casinos, and entertainment destinations primarily across the United States, with a focus on developing and managing large-scale commercial properties.
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Subscribe from €20/mo →Deal Analysis
Tilman Fertitta is making a bold play for Caesars Entertainment, reportedly outbidding Carl Icahn's firm for the hospitality giant. His Houston-based Fertitta Entertainment is eyeing Caesars' nine Las Vegas Strip resorts and its broader portfolio of over 50 properties. This $7 billion acquisition would dramatically expand Fertitta's existing Golden Nugget and Landry's holdings, reshaping his gambling empire. The proposed $34 per share offer, if finalized, would consolidate a significant portion of the US hospitality sector under one owner.
- Tilman Fertitta outbidding Carl Icahn's firm for Caesars.
- $7 billion valuation for the hospitality giant.
- Fertitta Entertainment to add over 50 resorts to its portfolio.
- Proposed $34 per share offer for Caesars Entertainment.
Timeline
Announced
Mar 11, 2026
Signed
Closed
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