Houston Rockets Owner Reportedly in Talks to Acquire Caesars Entertainment

Tilman Fertitta's company is discussing a potential $7 billion deal for the casino giant.

Mar. 12, 2026 at 4:07pm

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Houston billionaire Tilman Fertitta, the owner of the Houston Rockets, is reportedly in talks to acquire casino company Caesars Entertainment in a deal valued at around $7 billion. Fertitta Entertainment has been discussing paying approximately $34 per share for Caesars, which would make it one of the largest acquisitions in the gaming industry.

Why it matters

This potential acquisition would significantly expand Fertitta's entertainment and hospitality portfolio, which already includes the Golden Nugget casino chain, Landry's restaurants, and the Houston Rockets. Adding Caesars' more than 50 resorts would make Fertitta Entertainment one of the largest gaming and entertainment conglomerates in the United States.

The details

According to the Wall Street Journal, Fertitta Entertainment has been discussing paying around $34 per share for Caesars Entertainment, which would value the deal at $7 billion. Caesars has also received a separate offer from billionaire investor Carl Icahn's firm, Icahn Enterprises LP, for around $33 per share. An announcement between Fertitta and Caesars is not imminent, and the talks may not result in a final deal.

  • The talks between Fertitta Entertainment and Caesars Entertainment have been ongoing since early 2026.

The players

Tilman Fertitta

The billionaire owner of the Houston Rockets and Fertitta Entertainment, which includes the Golden Nugget casino chain and Landry's restaurants.

Caesars Entertainment

A Las Vegas-based resort and casino giant that operates more than 50 resorts and casinos across the United States.

Carl Icahn

A billionaire investor whose firm, Icahn Enterprises LP, has also made an offer to acquire Caesars Entertainment.

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What’s next

If a deal is reached, it would require approval from Caesars Entertainment's shareholders and regulatory authorities.

The takeaway

This potential acquisition highlights Tilman Fertitta's ambition to expand his entertainment and hospitality empire, and the ongoing consolidation in the gaming industry as major players seek to grow their footprint and diversify their offerings.