Caesars Entertainment announced Thursday morning its board had accepted the long-rumored deal for Fertitta Entertainment to acquire the iconic casino brand and all of its properties.
The announcement referred to it as a “definitive agreement,” though it is still subject to the approval of Caesars Entertainment shareholders and other standard conditions. The transaction is valued at approximately $17.6 billion, which includes the assumption of approximately $11.9 billion of Caesars’ debt, meaning the cash value of the deal is approximately $5.7 billion.
Golden Nugget owner Tilman Fertitta, who also owns the NBA’s Houston Rockets and was named U.S. ambassador to Italy last May, has been in pursuit of this deal since at least February, when the Financial Times was first to report on the possible buyout. Along the way, Fertitta reportedly outbid billionaire investor Carl Icahn’s firm.
Caesars’ Board of Directors approved the transaction and, according to the release, is recommending that Caesars shareholders approve the agreement as well. Caesars shareholders will receive $31 in cash for each outstanding share, which, according to the release, “represents a 49% premium over Caesars’ unaffected share price as of February 25, 2026 (the last trading day before rumors of a potential transaction) and a 46% premium over the unaffected 30-day Volume-Weighted Average Price (“VWAP”) as of the same date.”
Deja-vu..
“… all-cash transaction valued at approximately $17.6 billion, including the assumption of approximately $11.9 billion of Caesars’ outstanding debt.”
Caesars Entertainment Enters Into Agreement to Be Acquired by Fertitta Entertainmenthttps://t.co/3MREIGHzfq
— Alfonso Straffon 🇨🇷🇺🇸🇲🇽 (@astraffon) May 28, 2026
Financing details, shopping period
Caesars owns and/or operates more than 50 North American casinos, including those branded under Caesars Palace, Harrah’s, and Eldorado. Caesars also operates online casino and online sports betting apps, and the newly combined business will now total 60 casino properties and gaming operations.
There are no financing conditions to the Fertitta deal, as the transaction will be financed “through a combination of equity contributed by Fertitta Entertainment, assumed Caesars debt, and new committed debt financing arranged by a group consisting of 10 banks,” the release says. Through July 11, Caesars still has the option to pursue other offers.
According to the announcement, Fertitta Entertainment plans to keep key members of the Caesars executive team in their positions, including CEO Tom Reeg, CFO Bret Yunker, and President and COO Anthony Carano.
‘ The preceding article may include information circulated by third parties ’
‘ Some details of this article were extracted from the following source finance.yahoo.com ’
