Major Las Vegas casino operator considering takeover bid, report says
Caesars Entertainment Inc. is reportedly exploring a sale after receiving takeover interest, potentially including a management buyout.Summary
Caesars Entertainment Inc. is considering takeover bids, according to a report from the Financial Times, including a possible management-led buyout. Texas billionaire Tilman Fertitta is among the potential bidders. Caesars Entertainment has not commented on the speculation, and talks are ongoing with no final agreements reached. The company’s stock price surged over 19% following the report, closing at $25.05 per share on Friday, a $3.80 increase from the start of the week, despite a nearly 73% decline in share price over the last five years. The enterprise value of Caesars is estimated at $17 billion, factoring in its $5.1 billion market capitalization and $11.9 billion debt, but does not include long-term lease payments. Any acquisition would likely require substantial financing. Caesars was previously acquired by Eldorado Resorts Inc. in 2020, and potential bidder Tilman Fertitta is the U.S. ambassador to Italy and San Marino, with significant holdings in other casino properties.
(Source：Las-vegas Review Journal)