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The casino giant Caesars entertainment is to be bought by Fertitta Entertainment, a conglomerate with holdings primarily in the hospitality industry, in a $17.6 billion all-cash deal, including $11.9 billion in Caesars\u2019 debt.<\/p>\n
The company announced Thursday that Fertitta will pay Caesars shareholders $31 per share in cash. The deal includes a \u201cgo-shop\u201d period through July 11, during which Caesars can review other offers.<\/p>\n
A press release by Caesars said that Fertitta Entertainment brings a proven operating model with a track record of successfully integrating and growing leading hospitality and entertainment businesses. It added that the deal positions Caesars to \u201ccontinue executing on the strategy that has made it the leading casino-entertainment company in the United States.\u201d<\/p>\n
READ: James Murdoch acquires Vox, New York Magazine in media expansion<\/a><\/strong> (May 21, 2026)<\/p>\n Caesars Entertainment Chief Executive Officer, Tom Reeg; Chief Financial Officer, Bret Yunker; President and Chief Operating Officer, Anthony Carano; as well as other members of the corporate management team and property-level management and personnel are expected to remain in their roles and continue to lead the Caesars Entertainment operations at the combined company.<\/p>\n \u201cTogether, Caesars and Fertitta Entertainment have a shared commitment to operational excellence, customer service, and disciplined growth, with employees and guests remaining at the heart of the business,\u201d the release said<\/a>.<\/p>\n The proposed transaction is not subject to a financing condition. The transaction will be financed through a combination of equity contributed by Fertitta Entertainment, assumed Caesars\u2019 debt, and new committed debt financing arranged by a group consisting of 10 banks. It is also subject to the approval of Caesars Entertainment shareholders and the satisfaction of customary closing conditions, including applicable regulatory approvals.<\/p>\n