March 14 (Reuters) – Tilman Fertitta’s 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.
Reuters could not immediately verify the report. Fertitta Entertainment and Caesars Entertainment did not immediately respond to Reuters’ requests 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.
(Reporting by Ananya Palyekar in Bengaluru; Editing by Chizu Nomiyama)
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