Houston Rockets Owner Exploring $7 Billion Caesars Deal

(KNUE-FM) This is big news for anyone interested in sports and the future of gambling in Texas. According to the Wall Street Journal, the owner of the Houston Rockets is exploring the possibility of a major casino takeover.

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Rockets Owner Exploring Major Casino Deal

Houston billionaire Tilman Fertitta is discussing the potential of a $7 billion deal to acquire Caesars Entertainment.

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Another Billionaire Firm Also Bidding

Fertitta Entertainment has been in talks about paying around $34 per share for the company which would be a total investment of $7 billion. Caesars has received another offer from billionaire investor Carl Icahn’s firm, Icahn Enterprises LP, which came in around $33 per share.

There is no rush for any sort of announcement between Fertitta and Caesars and there is a chance that no deal will be made.

What This Could Mean for Sports Betting in Texas

Neither side is talking about any sort of deal at this point, we will all just have to wait and see how things develop. It will be interesting to see what this means regarding legalizing sports gambling in Texas which is currently illegal.

There are 39 U.S. states where sports betting is legal along with Washington D.C. and Puerto Rico.

Experts agree that sports betting problems are increasingly severe, with addiction rates rising, causing health risks and societal impact.

Personally, I enjoy betting on sports (when I am in a state that allows it) but I also understand how dangerous it can become.

Would you like to see sports betting legalized in Texas? Let me know, billy.jenkins@townsquaremedia.com.