{"id":326,"date":"2026-03-13T18:24:18","date_gmt":"2026-03-13T19:24:18","guid":{"rendered":"https:\/\/cerulepillar.com\/?p=326"},"modified":"2026-03-25T13:23:37","modified_gmt":"2026-03-25T13:23:37","slug":"caesars-should-seek-takeover-price-above-35-says-analyst-another-warns-on-regulatory-issues","status":"publish","type":"post","link":"https:\/\/cerulepillar.com\/index.php\/2026\/03\/13\/caesars-should-seek-takeover-price-above-35-says-analyst-another-warns-on-regulatory-issues\/","title":{"rendered":"Caesars Should Seek Takeover Price Above $35, Says Analyst. Another Warns on Regulatory Issues."},"content":{"rendered":"<ul>\n<li><strong>Morningstar says Caesars should seek at least a 10% premium to the firm\u2019s $35 fair value estimate<\/strong><\/li>\n<li><strong>Another analyst warned of potential regulatory headwinds if Fertitta wins the takeover tussle<\/strong><\/li>\n<\/ul>\n<hr \/>\n<p>Caesars Entertainment (NASDAQ: CZR) should be able to command more in a possible takeover than the $34 a share Tilman Fertitta and the $33 per share Carl Icahn are reportedly offering for the company.<\/p>\n<figure id=\"attachment_368050\" aria-describedby=\"caption-attachment-368050\" data-style=\"width: 858px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" class=\"wp-image-368050 size-post-thumbnail-858xAUTO lazyload\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" alt=\"\" width=\"858\" height=\"622\" data-src=\"https:\/\/cerulepillar.com\/wp-content\/uploads\/2026\/03\/caesars-palace-shutterstock-858x622-1.jpg\"><figcaption>Caesars Palace Las Vegas. The operator should seek north of $35 a share in a takeover, says an analyst. (Image: Shutterstock)<\/figcaption><\/figure>\n<p>In a new report, Morningstar analyst Dan Wasiolek says that based on the strength of Caesars\u2019 portfolio, which is the largest by number of domestic casinos, the company should be pressing <a href=\"https:\/\/www.casino.org\/news\/caesars-back-in-takeover-spotlight-fertitta-said-to-be-lurking\/\">prospective suitors<\/a> for north of $35 a share.<\/p>\n<blockquote class=\"main-blockquote\">\n<p>We think Caesars should seek at least a 10% premium to our $35 per share fair value estimate, or 8 times 2027 enterprise value\/ earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs (EBITDAR), given the quality of its operating portfolio,\u201d observes the analyst. \u201cThis represents a similar multiple to US no-moat peer Penn Entertainment (NASDAQ: PENN) that has similar debt and financial growth characteristics.\u201d<\/p>\n<\/blockquote>\n<p>He adds it\u2019s not surprising to see Caesars again be the subject of takeover speculation and there\u2019s merit in that assertion because the company has changed hands four times in less than three decades with the most transaction being the <a href=\"https:\/\/www.casino.org\/news\/eldorado-seals-caesars-deal-largest-gaming-company-created\/\">$17.3 billion 2020 takeover<\/a> by Eldorado Resorts that created \u201cnew Caesars.\u201d<\/p>\n<p><strong>\u201cThe firm&#8217;s 14% share of the US gaming market includes 50 casino resorts, with several in Vegas that generated about $700 million in free cash flow in 2025, based on our calculation,\u201d adds the Morningstar analyst<\/strong>.<\/p>\n<h2>Beware Regulatory Issues if Fertitta Wins Caesars<\/h2>\n<p>In February, <a href=\"https:\/\/www.casino.org\/news\/caesars-considering-buyout-bids-including-one-from-tilman-fertitta\/\">rumors surfaced that Caesars<\/a> was mulling several takeover bids, including one from Fertitta. Neither he nor Caesars have confirmed related discussions. Likewise, there isn\u2019t confirmation as of yet of him offering $34 a share, which would value the target at $7 billion.<\/p>\n<div class=\"callout\">\n<p>What needs no confirmation is that Fertitta Entertainment controls the Golden Nugget casinos and should the Houston Rockets owner win Caesars, there would be significant geographic overlap between the Caesars and Golden Nugget portfolios. That could catch the eye of regulators, according to GimmeCredit\u2019s Kim Noland.<\/p>\n<\/div>\n<p><strong>\u201cThere are potential regulatory issues given Mr. Fertitta\u02bcs ownership of the Golden Nugget casinos and various other gaming interests,\u201d she wrote in a new report. \u201cWhile sources caution that no deal will be announced imminently or is even certain to occur, this news combined with Caesars\u02bc recent struggles with weak Las Vegas Strip results due to a decline in tourist visitation suggest the company may be up for sale.\u201d<\/strong><\/p>\n<p>As just a few examples, if Fertitta acquires Caesars, he\u2019d control four casinos in Atlantic City, NJ and three each in Lake Tahoe and Laughlin, Nevada. That level of overlap could compel regulators to force <a href=\"https:\/\/www.casino.org\/news\/caesars-slow-playing-vegas-asset-sale-analysts-like-stock\/\">asset sales<\/a>, but that is to be determined.<\/p>\n<h2>Fertitta Interest in Caesars Isn\u2019t New<\/h2>\n<p>Fertitta, who currently serves as US ambassador to Italy and San Marino, has a long-rumored desire to own a Las Vegas Strip casino hotel. Likewise, his interest in Caesars isn\u2019t new, potentially giving rise to the most recent takeover chatter.<\/p>\n<p>\u201cFertitta, owner of the Golden Nugget casino brand, restaurants, and the Houston Rockets basketball team, attempted to acquire Caesars in 2018-19 before the firm merged with El Dorado,\u201d concludes Wasiolek.<\/p>\n<p>The post <a href=\"https:\/\/www.casino.org\/news\/caesars-should-seek-takeover-price-above-35-says-analyst-another-warns-on-regulatory-issues\/\">Caesars Should Seek Takeover Price Above $35, Says Analyst. Another Warns on Regulatory Issues.<\/a> appeared first on <a href=\"https:\/\/www.casino.org\/news\">Casino.org<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Morningstar says Caesars should seek at least a 10% premium to the firm\u2019s $35 fair value estimate Another analyst warned of potential regulatory headwinds if Fertitta wins the takeover tussle Caesars Entertainment (NASDAQ: CZR) should be able to command more in a possible takeover than the $34 a share Tilman Fertitta and the $33 per&#8230;<\/p>\n","protected":false},"author":1,"featured_media":328,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[12],"tags":[],"_links":{"self":[{"href":"https:\/\/cerulepillar.com\/index.php\/wp-json\/wp\/v2\/posts\/326"}],"collection":[{"href":"https:\/\/cerulepillar.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cerulepillar.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cerulepillar.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cerulepillar.com\/index.php\/wp-json\/wp\/v2\/comments?post=326"}],"version-history":[{"count":2,"href":"https:\/\/cerulepillar.com\/index.php\/wp-json\/wp\/v2\/posts\/326\/revisions"}],"predecessor-version":[{"id":329,"href":"https:\/\/cerulepillar.com\/index.php\/wp-json\/wp\/v2\/posts\/326\/revisions\/329"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cerulepillar.com\/index.php\/wp-json\/wp\/v2\/media\/328"}],"wp:attachment":[{"href":"https:\/\/cerulepillar.com\/index.php\/wp-json\/wp\/v2\/media?parent=326"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cerulepillar.com\/index.php\/wp-json\/wp\/v2\/categories?post=326"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cerulepillar.com\/index.php\/wp-json\/wp\/v2\/tags?post=326"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}