LAS VEGAS (KSNV) — The sale of Caesars Entertainment is set to bring a wide swath of Las Vegas Strip properties under new ownership, extending far beyond the Caesars Palace name.
Caesars Entertainment announced Thursday that it has agreed to be acquired by Fertitta Entertainment in an all-cash deal valued at about $17.6 billion, including the assumption of about $11.9 billion in Caesars’ outstanding debt.
In a statement from Caesars Entertainment, billionaire Tilman Fertitta, who owns Fertitta Entertainment, bought the Nevada-based company for nearly $6 billion in cash.
The deal includes multiple Caesars Entertainment properties on the Las Vegas Strip, including The Flamingo, Harrah’s, Horseshoe, The Linq, Paris Hotel and Casino, Planet Hollywood and the newly rebranded Vanderpump Hotel, formerly The Cromwell.
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