Caesars to Be Acquired by Fertitta Entertainment in a $17.6B Transaction - The Nevada Independent
Caesars shareholders would receive $31 a share, and the combined company would operate 60 resorts and gaming facilities, officials said.
- On Thursday, Fertitta Entertainment announced a definitive agreement to acquire Caesars Entertainment Inc. in an all-cash transaction valued at $17.6 billion, offering shareholders $31 per share.
- The acquisition unites Fertitta's gaming and restaurant empire—featuring the Golden Nugget and Landry's—with Caesars' expansive portfolio of 60 resorts worldwide and industry-leading loyalty programs.
- Including the assumption of $11.9 billion in debt, the deal maintains leadership continuity with Caesars CEO Tom Reeg, CFO Bret Yunker, and President and COO Anthony Carano expected to remain in their roles.
- Caesars has a "go-shop" period through July 11 to solicit alternative acquisition proposals, though the transaction remains subject to shareholder approval and potential regulatory scrutiny.
- The combined organization will operate over 550 hospitality outlets, creating a diversified ecosystem spanning gaming, sports betting, and dining brands across the United States.
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Caesars Entertainment (NASDAQ:CZR), which operates casinos and resorts across the U.S, closed Thursday at $29.08, up 1.04%. The stock is rising after news broke that Fertitta Entertainment agreed to acquire Caesars for $31 per share in cash. Investors are watching whether the price converges toward the proposed deal value. Trading volume reached 86.9 million shares, about 1,324% above its three-month average of 6.1 million shares. Caesars Entert…
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