The Financial Times is reporting that Caesars Entertainment, which merged with Eldorado Resorts in 2020, is considering takeover offers.
Nearly six years after going through a multibillion-dollar merger, Caesars Entertainment is looking at a potential takeover of the company, according to a news report.
The global gaming company is considering several takeover offers, including one from Texas gaming and hospitality billionaire Tilman Fertitta, according to reporting by the Financial Times on Thursday. Fertitta Entertainment properties include the Golden Nugget casino chain.
Tilman Fertitta is also the cousin of brothers Frank and Lorenzo Fertitta, who own Station Casinos.
In addition to the Fertitta offer, Caesars Entertainment is weighing a management-led buyout, according to people familiar with the matter.
Caesars declined to comment on the report. Shares of the company closed up about 19% on Thursday after the news.
Caesars was acquired by Reno-based Eldorado Resorts Inc. in 2020 in a $17.3 billion merger. The combined company decided to keep the more recognizable Caesars Entertainment name after the merger.
Caesars Entertainment is in the middle of a $200 million infrastructure project to remodel and rebrand the former Harveys hotel-casino at Lake Tahoe’s Stateline into Caesars Republic.
With reporting from Reuters
‘ The preceding article may include information circulated by third parties ’
‘ Some details of this article were extracted from the following source www.rgj.com ’
