Global law firm White & Case LLP has advised Fertitta Entertainment, Inc., a leader in the hospitality and entertainment industries, on its agreement to acquire Caesars Entertainment, Inc. (NASDAQ: CZR) in an all-cash transaction valued at approximately US$17.6 billion, including the assumption of approximately US$11.9 billion of Caesars’ outstanding debt. Under the terms of the agreement, Caesars shareholders will receive US$31.00 in cash for each outstanding Caesars share.
Fertitta Entertainment is Tilman and Paige Fertitta’s holding company for substantially all of their assets, including all of the equity in Fertitta Entertainment, LLC, Golden Nugget, LLC and Landry’s, LLC hotels, real estate and other investments, including the NBA’s Houston Rockets. White & Case previously represented Golden Nugget Online Gaming, Inc. on its sale to DraftKings Inc.
The White & Case M&A team was led by partners Joel Rubinstein, Michael Deyong and Ross Sturman (all in New York) and supported by M&A associates Joshua Butler (New York), Kai Glick (London), and Parmeet Batra Livia Katroshi and law clerk Jordan Brown (all in New York).
The White & Case Finance team was led by partners Justin Wagstaff, Gary Kashar and Brett Pallin. The team was also supported by partners Jonathan Rochwarger and Jonathan Michels, and associates Elizabeth Mapelli and Eriq Yu (all in New York).
The transaction team also included partners Sasha Belinkie, Scott Fryman, Arlene Arin Hahn, Tal Marnin (all in New York), George Paul, Paul Pittman (both in Washington, DC), David Pezza (Chicago) and Taylor Pullins (Houston); counsel Kenneth Barr (New York), Amy Kurland and Chris Ohlgart (both in Chicago); and associates Temi Ajibode, Jarrah Al-Buainain, Julia Garcez, Taylor Gillespie, Jacob Smith, Julia Garcez, Peter Shelburne, (all in New York), Gabriela Baca, Abdul Hafiz (both in Washington, DC) and Emily Pope (Houston).
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