Digital Wager Wire highlights the most significant events affecting the domestic and international sports betting and gaming industries each week throughout the year.
Is Caesars for Sale?
The last time Caesars Entertainment was acquired, El Dorado Resorts pulled the trigger in 2020. But now reports are surfacing that the iconic Las Vegas gaming company may again be available to the highest bidder. Rumors persist that several high-profile investors have expressed interest as well as a management-led buyout of the company.
Tilman Fertitta, the billionaire CEO of the Golden Nugget and owner of the NBA’s Houston Rockets, has been mentioned as a possible candidate. However, should that come to fruition, Fertitta’s Houston Rockets would be banned from appearing on any Caesars mobile or retail sportsbook.
Fertitta is also barred from any discussions involving Fertitta Entertainment because of his position as the U.S. ambassador to Italy and San Marino. This would mean that his chief operating officer, Nicki Keenan, would be tasked with any acquisition dialogue, including a bid for Caesars.
Caesars’ Value Despite Debt Concerns
Nevertheless, the synergy between Caesars and a hospitality/entertainment/gaming magnate like Fertitta is undeniable. Fertitta Entertainment is a massive presence in those markets, operating as a luxury hospitality, gaming, and restaurant conglomerate with over 600 locations throughout the world and north of $4.9 billion in annual revenue, employing over 50,000 workers.
Although Caesars is riddled with $20 billion in debt and its stock has plummeted, its total enterprise value is more than $30 billion with over $3 billion in liquid cash assets. Although its year-over-year vacancy rate dropped from 96% to 92%, much of that can be attributed to the tourism malaise in 2025.
CEO Tom Reeg Remains Optimistic
However, despite that decreased foot traffic, Caesars’ net casino gaming revenue across all of its properties rose from $6.3 billion in 2024 to $6.6 billion last year. Caesar’s CEO, Tom Reeg, stated in a recent fourth-quarter earnings call that he was encouraged by the results in the midst of a Sin City slowdown.
“If you look back over the history of Caesars in Vegas, this was probably the third or fourth best fourth quarter of all time,” Reeg said. “There’s really no crisis happening in Vegas. It’s normal cyclicality that will play itself out.”
DraftKings Gets Leaner Through Employee Cuts
DraftKings’ stock has been tumbling over the past six months, from a high of $48.00 in August 2025 to $24.88 in the first week of March 2026. Although the company’s fourth-quarter earnings call showed a 43% year-over-year increase, expenses have been on the rise, including a 6% to 13% boost in general and administrative costs, a 3% to 9% increase in marketing costs, and a 12% to 26% spike in technology costs.
Reports are circulating that the Boston-based bookmaker will lay off 5% or approximately 300 of its workers. This follows a pattern set in 2023 when DraftKings laid off 3.5% of its workforce to cut costs. DraftKings is believed to be able to navigate a significant decrease in labor due to its increased reliance on AI technology.
Citizens Equity Research analyst Jordan Bender stated that DraftKings expects approximately $30 million in annual savings due to the staffing cuts.
