Caesars flies to Teterboro the week of Fertitta acquisition talks

Caesars flew from Washington Dulles International Airport to Teterboro Airport on May 14, a 48-minute hop in its Gulfstream V, tail N898CE. The short hop from the capital to northern New Jersey comes the same week the company’s potential sale to Tilman Fertitta’s Fertitta Entertainment remains under active negotiation, per a CNBC report from March. Fertitta’s $32-per-share bid, valuing Caesars at $6.5 billion in equity, is being discussed inside a 45-day exclusive window, with billionaire Carl Icahn waiting in the wings with a rival $33-per-share offer.

The flight pattern suggests a busy few days for Caesars. The same aircraft flew from Los Angeles to Teterboro on May 11, then to Dulles later that day, before returning to Teterboro today. The company’s Las Vegas headquarters saw the jet depart for Boston on May 9, then Los Angeles, then New York — a circuit that tracks with the boardroom drama surrounding the casino operator’s future.

Caesars reported first-quarter net revenues of $2.9 billion on April 28, per its earnings release, with Las Vegas occupancy above 95% and digital revenue hitting a record $374 million. Yet the biggest story remains the potential sale, which could reshape the largest casino-entertainment company in the U.S. The trip to Teterboro — close to Manhattan’s financial district and Fertitta’s Houston base — suggests the deal talks are far from over.