One of the largest gaming operators in the country could be looking at buyout offers, according to recent reports. Caesars Entertainment, the former owner of the World Series of Poker, is potentially seeking buyout offers.
Some of the potential suitors include from Texas billionaire Tilman Fertitta, who owns the Golden Nugget casinos across the country, more than 60 restaurant brands, and the NBA’s Houston Rockets franchise. Fertitta is also a major shareholder in Wynn Resorts.
Additionally, Caesars is also considering a buyout from current management as well, according to the Financial Times, but the company hasn’t commented on either proposal The latest buyout news comes after the company completed a $17.3 billion merger with Eldorado Resorts in 2020.
Reshaping The Industry
A potential move could reshape one of the largest casino operators in the country, especially if the company links up with Fertitta’s company Fertitta Entertainment. Caesars operates several casinos on the Las Vegas Strip and Fertitta also operates the Golden Nugget in downtown Las Vegas.
Both also operate casinos in Atlantic City, Louisiana, Mississippi, Colorado, and the Lake Tahoe-Reno area. Caesars shares surged 19% on Thursday after the news of a possible buyout were released.
The possible deal comes as Caesars has seen several major projects at several casinos recently. That included major renovations to Caesars Palace Las Vegas with updates to the main casino entrance, hotel lobby, casino dome, porte-cochere, the Flavian Sky Suites, and more. Harveys Lake Tahoe also saw a $160 million renovation that included a rebrand of the casino as Caesars Republic.
Regulatory Concerns?
After the Eldorado deal, Caesars was forced to sell some problems to meet regulatory concerns. It’s unknown if a potential deal with Fertitta would require a similar move.
However, Eldorado’s previous portfolio was much larger than the handful of casinos d in the Fertitta Entertainment owns fewer casinos than Eldorado held.
A potential deal means Fertitta, who also serves as the U.S. ambassador to Italy, would own a significant share of the Las Vegas casino market. Along with the Golden Nugget, the casino and hospitality mogul would also gain Caesars Palace, Harrah’s, Planet Hollywood, Linq, and The Cromwell.
Caesars also owns the Paris and Horseshoe, which have been home to the WSOP since 2022. Caesars sold the WSOP to the parent company of GGpoker in 2024 for $500 million, but the properties continue to host the annual summer series.
