Caesars Entertainment gains on Fertitta's nearly $18 billion takeover deal

Caesars Entertainment

28/05/2026 12:32

** Shares of Caesars Entertainment CZR.O up more than 2% at $29.40 premarket
** CZR enters into an agreement to be acquired by Tilman Fertitta-owned firm in a $17.6 billion deal
**  The deal includes the assumption of approximately $11.9 billion of Caesars' outstanding debt
** Fertitta, the U.S. ambassador to Italy and San Marino and owner of Fertitta Entertainment, offered $31 per share for the company
** Caesars merged with Eldorado Resorts in 2020, after activist investor Carl Icahn built a stake and pushed for a sale
** CZR controls more than 50 casinos across North America, including Caesars Palace, Harrah's and Eldorado
** As of last close, stock up 23% YTD

(Reporting by Apratim Sarkar in Bengaluru)
((Apratim.Sarkar@thomsonreuters.com))