An exterior presumption of Caesars Palace Tuesday, July 11, 2023. Photo by: Steve Marcus
By Ray Brewer (contact)
Thursday, May 28, 2026 | 5:58 a.m.
Caesars Entertainment is being acquired by Tilman Fertitta’s Fertitta Entertainment successful an all-cash woody valued astatine astir $17.6 billion, including the presumption of astir $11.9 cardinal successful Caesars’ outstanding debt, the institution announced this morning.
One of the 2 largest operators connected the Las Vegas Strip, Caesars runs 8 properties on the famed corridor.
Fertitta is simply a Houston-based billionaire champion known arsenic the chairman, CEO and sole proprietor of Landry’s Inc., 1 of the largest edifice and hospitality conglomerates successful the United States — and the proprietor of some the Golden Nugget casinos and the NBA’s Houston Rockets.
The Caesars Board of Directors has unanimously approved the transaction and is recommending that shareholders follow and o.k. the merger, officials said.
Under its terms, Caesars shareholders volition person $31 successful currency for each outstanding stock — a 49% premium implicit the company’s unaffected stock terms arsenic of Feb. 25. The Carano family, which owns astir 5% of outstanding Caesars stock, has besides agreed to rotation a information of their equity interests into Fertitta Entertainment.
The woody remains taxable to regulatory approval.
Caesars CEO Tom Reeg, CFO Bret Yunker, President Anthony Carano and different elder leaders are expected to stay successful their roles.
The 2 organizations volition run 60 resorts worldwide, emphasizing a shared committedness to operational excellence, lawsuit work and disciplined growth. Employees and guests stay cardinal to the business, they said.
“The combined institution volition connection guests an adjacent broader array of destinations and experiences,” officials said.
Fertitta Entertainment’s Golden Nugget portfolio spans 8 hotels crossed the United States, with locations successful downtown Las Vegas, Laughlin and Lake Tahoe, arsenic good arsenic Atlantic City, N.J.; Biloxi, Miss.; Cripple Creek, Colo.; Lake Charles, La.; and Danville, Ill.
Landry’s, which was built connected aboriginal acquisitions successful the seafood edifice business, has grown into an empire of much than 600 properties crossed dozens of brands — among them Landry’s Seafood House, Bubba Gump Shrimp Co., Rainforest Cafe and Morton’s The Steakhouse.
Fertitta is simply a acquainted look connected television, having starred successful the CNBC world bid “Billion Dollar Buyer,” wherever helium evaluated tiny businesses for imaginable Landry’s partnerships.
In 2017, helium purchased the Houston Rockets for astir $2.2 cardinal — a grounds terms for an NBA franchise astatine the time.
The Strip properties are anchored by Caesars Palace. Other properties include: Flamingo Las Vegas, Harrah’s Las Vegas, Horseshoe Las Vegas, The LINQ, Paris Las Vegas and Planet Hollywood and Vanderpump Hotel, the erstwhile Cromwell.
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