Caesars Entertainment is being acquired for almost $6 billion by Fertitta Entertainment, the Houston-based company that owns Las Vegas\u2019 Golden Nugget and chains like Rainforest Cafe and Morton\u2019s.<\/p>\n
Caesars became an iconic name after the opening of Caesar\u2019s Palace on the Las Vegas Strip in 1966. However, its roots date back to the 1930s in Reno, Nevada.<\/p>\n
Fertitta Entertainment will pay $5.7 billion and take on close to $12 billion in debt from Caesars, putting the total value of the deal at about $17.6 billion. As part of the agreement, Caesars can seek competing bids through July 11.<\/p>\n
Caesars investors will get $31 in cash for each share they own, a 49% premium over the share price before chatter about a possible tie-up between the two entertainment companies began in February.<\/p>\n
Shares of Caesars Entertainment Inc., which are up 15% since merger rumors emerged, rose almost 2% before the opening bell Thursday.<\/p>\n
Fertitta Entertainment was founded by Houston billionaire Tilman Fertitta, the former chair of the University of Houston System Board of Regents who in April was confirmed as U.S. Ambassador to Italy and San Marino<\/a>. Along with Golden Nugget casinos and Landry\u2019s, Inc., the company\u2019s holdings include The Post Oak Hotel at Uptown Houston, the Downtown Aquarium in Houston, Kemah Boardwalk, Galveston Island Pleasure Pier and the NBA\u2019s Houston Rockets. Earlier this year, Fertitta bought the WNBA\u2019s Connecticut Sun<\/a> with plans to move the team to Houston for next season. <\/p>\n<\/p><\/div><\/div>\n \u2018 The preceding article may include information circulated by third parties \u2019 <\/em><\/p>\n \u2018 Some details of this article were extracted from the following source www.houstonpublicmedia.org \u2019 <\/em><\/p>\n","protected":false},"excerpt":{"rendered":" Houston businessman Tilman Fertitta owns the NBA\u2019s Houston Rockets. Caesars Entertainment is being acquired for almost $6 billion by Fertitta Entertainment, the Houston-based company that owns Las Vegas\u2019 Golden Nugget and chains like Rainforest Cafe and Morton\u2019s. Caesars became an iconic name after the opening of Caesar\u2019s Palace on the Las Vegas Strip in 1966. […]<\/p>\n","protected":false},"author":2,"featured_media":2436044,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_jetpack_memberships_contains_paid_content":false,"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"footnotes":""},"categories":[25172],"tags":[21796,347294,305028,446023,357475,22292,478148,21739,21738,446302],"class_list":["post-2436043","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-entertainment","tag-business","tag-caesars-entertainment","tag-entertainment-industry","tag-fertitta-entertainment","tag-hospitality-industry","tag-houston","tag-houston-companies","tag-local","tag-news","tag-tilman-fertitta"],"jetpack_featured_media_url":"https:\/\/celebrity.land\/en\/wp-content\/uploads\/2026\/05\/Houston-based-Fertitta-Entertainment-to-buy-Caesars-a-Las-Vegas-Strip.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/posts\/2436043","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/comments?post=2436043"}],"version-history":[{"count":1,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/posts\/2436043\/revisions"}],"predecessor-version":[{"id":2436045,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/posts\/2436043\/revisions\/2436045"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/media\/2436044"}],"wp:attachment":[{"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/media?parent=2436043"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/categories?post=2436043"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/tags?post=2436043"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}