LAS VEGAS, Nev. – Billionaire Tilman Fertitta is expanding his casino and hospitality empire by acquiring Caesars Entertainment, Inc. (Caesars). On the South Shore of Lake Tahoe, if the deal is approved, Fertitta’s company will own the Golden Nugget, Harrah’s Tahoe and Caesars Republic, along with the Chart House and restaurants inside the casinos.
The announcement made by Caesars on Thursday ends months of speculation in Las Vegas, where the rumor had been circulating, and other potential buyers were circling.
Caesars entered into a definitive agreement to be acquired by Fertitta Entertainment, Inc. in an all-cash transaction valued at approximately $17.6 billion, including the assumption of approximately $11.9 billion of Caesars’ outstanding debt.
Under the terms of the agreement, Caesars shareholders will receive $31.00 in cash for each outstanding Caesars share. The consideration represents a 49 percent premium over Caesars’ unaffected share price as of February 25, 2026 (the last trading day before rumors of a potential transaction) and a 46 percent premium over the unaffected 30-day Volume-Weighted Average Price as of the same date.
The deal must still gain regulatory approval in each jurisdiction where Caesars operates – over 50 resorts in 16 states.
Fertitta also owns stock in Wynn Resorts LTD.
In 2020, Eldorado Resorts of Reno purchased Caesars Entertainment for $17.3 billion. Two years before that, Fertitta had tried to do the same and then renewed his interest in the company earlier this year.
The Board of Directors of Caesars Entertainment has approved the transaction and recommends that Caesars shareholders adopt and approve the merger agreement. The Board, after detailed consideration with the assistance of its outside financial and legal advisors, determined that the immediate cash premium offered by this transaction is compelling for Caesars shareholders. They said in a press release its approval of this transaction underscores its commitment to drive and deliver value for shareholders.
On a combined basis, the merger brings an expansive suite of diversified offerings – 60 casino resorts and gaming facilities, online gaming including sports betting, iCasino, and Poker through Caesars’ leading digital platform, retail sports betting at over 200 third-party locations through the William Hill brand, and over 600 Fertitta Entertainment outlets, including Landry’s full-service restaurants, plus multiple amusement, entertainment and aquarium venues. Fertitta owns the Houston Rockets and is currently the U.S. ambassador to Italy and San Marino.
It is unknown at this time how the deal will affect the Lake Tahoe properties.
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‘ The preceding article may include information circulated by third parties ’
‘ Some details of this article were extracted from the following source southtahoenow.com ’
