March 14 (Reuters) – Fertitta Entertainment is negotiating to buy Caesars Entertainment for $32 per share, at an equity value of $6.5 billion, CNBC reported on Saturday, citing sources close to the situation.
Fertitta’s terms for Caesars include an enterprise value of $31.5 billion, given the gaming company’s substantial debt, the report said.
“As a matter of policy, we don’t comment on rumors or market speculation,” Caesars said in an emailed response to Reuters.
Reuters could not immediately verify the report. Fertitta Entertainment did not immediately respond to Reuters’ request for comment outside regular business hours.
Deal talks are taking place within a 45-day exclusive window, this weekend at Fertitta’s headquarters in Houston, CNBC added.
The Wall Street Journal reported earlier this week that Fertitta Entertainment has been discussing paying around $34 a share for Caesars, giving it a value of roughly $7 billion.
The casino operator also received an all-cash offer of around $33 a share from Icahn Enterprises, the publicly traded company that houses billionaire Carl Icahn’s investments, the Journal said.
Icahn first made a friendly bid for Caesars in January, offering $28.50 per share with the assurance that present management would remain in place, the CNBC report said.
Icahn Enterprises did not immediately respond to a request for comment.
Icahn is interested in partnering with a large digital gaming company, in a move that could potentially combine Caesars’ digital gambling operations with theirs, CNBC added.
Caesars has reported a net loss for four consecutive quarters, hurt by softening visitor numbers in Las Vegas, which fell significantly in 2025.
(Reporting by Ananya Palyekar in Bengaluru; Editing by Chizu Nomiyama and Diane Craft)
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