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Caesars Entertainment shares surged 19% on takeover talks, including a bid from billionaire Tilman Fertitta, amid strong revenue and digital profits.
Caesars Entertainment shares jumped 19% as reports emerged that the company is evaluating takeover bids, including one from billionaire Tilman Fertitta via his Fertitta Entertainment, which owns the Golden Nugget chain.
A management-led buyout is also under consideration.
Strong financial results, including $2.92 billion in quarterly revenue and a record $85 million in digital segment adjusted EBITDA, fueled investor interest despite a wider-than-expected loss.
The stock rose to $25.01, with the company’s enterprise value exceeding $16 billion.
Any deal could face regulatory scrutiny, especially due to Fertitta’s existing stakes in Wynn Resorts and DraftKings.
Las acciones de Caesars Entertainment subieron un 19% en las conversaciones de adquisición, incluyendo una oferta del multimillonario Tilman Fertitta, en medio de fuertes ingresos y ganancias digitales.