Caesars Stock Jumps: Is a Massive $34-Per-Share Buyout Coming?
Posted on: April 20, 2026, 02:13h.
Last updated on: April 21, 2026, 08:02h.
- Caesars stock rose Monday on a report that takeover talks with Tilman Fertitta are ongoing
- A 45-day exclusivity period between the two sides recently expired
- Fertitta reportedly offered $32 a share for the casino operator
Caesars Entertainment (NASDAQ: CZR) stock popped 2% on heavy volume today as widespread reports surfaced that the casino giant is locked in ongoing buyout talks with billionaire Tilman Fertitta.
It’s rumored that Caesars and Fertitta entered into a 45-day exclusive negotiating window in late February, implying that period expired earlier this month. Today, two media outlets reported the talks have been extended.
Speaking on the condition of anonymity, a source within the investment community told Casino.org that the discussions between the Horseshoe operator and Fertitta may have temporarily stalled because the businessman’s father, Victor Joseph “Vic” Fertitta, Jr., passed away on April 9.
Potentially adding to the intrigue is that Caesars CEO Tom Reeg was supposed to be a speak at the East Coast Gaming Congress conference last week, but he did not attend.
Maybe Some Clarity on Caesars Takeover Price
The renewed media attention on the Caesars/Fertitta talks, depending on one’s perspective, may have brought more clarity or further muddied the waters on the possible price of acquiring the second-largest operator on the Las Vegas Strip.
Bloomberg reported that the talks are ongoing with a $32 per share bid from Fertitta on the table. A March report from another financial news outlet also said that was the price being entertained, but separate reports indicate the Golden Nugget owner offered $34 a share.
If Fertitta, who’s currently serving as US ambassador to Italy and San Marino, is in fact offering $32 per share for Caesars, that’s slightly below the $33 a share offer activist investor Carl Icahn is said to have floated. Icahn is a major Caesars shareholder and two of the gaming company’s directors were appointed at his behest.
If Caesars is acquired for $32 a share, it’d value the Harrah’s operator at a roughly 18% premium to where the stock closed last Friday. Some analysts believe that a takeover price in the low $30s is fair while others have argued the gaming company should pursue at least $35 a share.
Fertitta Financing Options
Since the Caesars/Fertitta rumor emerged, one of the most discussed items has been how the prospective buyer will finance the deal, which could carry a price tag of $7 billion to $8 billion.
There’s some speculation that Fertitta could borrow against the seven Golden Nugget casinos and the nearly 600 restaurants under the Landry’s umbrella, but that hasn’t been confirmed.
Additionally, rumors are swirling concerning Fertitta’s more than $1 billion stake in Wynn Resorts (NASDAQ: WYNN) as a potential financing avenue, but that possibility is also up in the air for the time being.
Last Comments ( 1 )
Prediction. Fertitta buys Caesars, sells the regional casinos, and then licenses the names, sells the Harrahs, Circus Circus and Tropicana brands to focus on Las Vegas, Louisiana and Atlantic City. He will then paydown the debt he just incured, and reinvests in the higher tier brands of the company. If he wants to go further, sell the Linq and Harrahs, and then tear down/rebuild a "New Flamingo," like what Hard Rock is doing at Mirage.