After The Wall Street Journal reported on acquisition negotiations, Caesars Entertainment's stock price rose.

LootboxPhobia · 2026-03-11T21:07:19+00:00

Caesars Entertainment stock price rose by 4.7% as billionaire Fetti plans to acquire at approximately $34 per share, with a total transaction value of about $7 billion, surpassing Icahn Enterprises' $33 cash offer. Caesars has not yet rejected Icahn's proposal, and the outcome of the negotiations remains uncertain.

LootboxPhobia

2026-03-11 21:07:19

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Investing.com – Caesars Entertainment (NASDAQ:CZR) stock rose 4.7% on Wednesday, after The Wall Street Journal reported that billionaire Tilman Fertitta is in exclusive negotiations to acquire the casino operator at approximately $34 per share.

According to reports, Fertitta’s company, Fertitta Entertainment, has been discussing a deal valued at around $7 billion, surpassing a competing bid from a company owned by billionaire investor Carl Icahn. Caesars Entertainment closed Tuesday at $26.01, giving the company a market value of over $5 billion.

The Wall Street Journal reported that Caesars also received a all-cash offer from Icahn Enterprises, approximately $33 per share. Icahn Enterprises is a publicly traded company owned by Icahn. Icahn is currently a shareholder of Caesars Entertainment. The report noted that Caesars has not officially rejected Icahn Enterprises’ offer.

Sources warned that there is no imminent announcement between the parties, and negotiations may not result in a deal.

According to sources cited in the report, Caesars CEO Tom Reeg may be involved in any acquisition offer.

The Financial Times reported in late February that the company is attracting acquisition interest from Fertitta and a group including management.

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