Caesars Entertainment is poised for a significant ownership change. According to a recent press release from Houston-based Fertitta Entertainment, the company has a definitive agreement to acquire Caesars Entertainment in an all-cash transaction valued at approximately $17.6 billion.
“Fertitta Entertainment’s agreement to acquire Caesars Entertainment brings together two of the world’s premier hospitality and gaming companies, each with deep roots in exceptional guest experiences and industry-leading loyalty programs,” the press release reads.
“Fertitta Entertainment brings a proven operating model and a decades-long track record of
successfully integrating and growing market-leading hospitality and entertainment businesses, including Golden Nugget Hotels & Casinos and Landry’s, one of the largest and most diversified restaurant and hospitality companies in America.”
Under the terms of the agreement, Fertitta Entertainment is also taking on approximately $11.9 billion of Caesars’ outstanding debt. The deal was a long time in the making. Fertitta Entertainment founder Tilman Fertitta has been working with the brand to make the deal happen.
Fertitta Entertainment was founded in 1986. Fertitta first built the Key Largo Hotel in Galveston, Texas, and then sold it to buy the rights to Landry’s. After acquiring restaurants under the company, Fertitta started focusing more on the hospitality division of Landry’s and acquired the San Luis Resort, Spa, & Conference Center in Galveston, Texas. To this day, the brand continues to grow.
“The combination of Caesars and Fertitta Entertainment brings together two iconic and highly complementary platforms, delivering guests an unmatched suite of gaming, entertainment, and restaurant brands under one roof,” the press release announcing the acquisition reads.
“On a combined basis, guests will enjoy access to an extraordinarily diversified array of offerings, including 60 domestic casino resorts and gaming facilities, spanning premier Las Vegas Strip destinations and regional markets across the country; online gaming, including sports betting, iCasino, and Poker, through Caesars’ industry-leading digital platform; retail sports betting at over 200 third-party locations through the William Hill brand; and over 550 Fertitta Entertainment outlets, including more than 450 Landry’s full-service restaurants spanning some of America’s most beloved dining brands located coast to coast.”
What Now Las Vegas reached out to Fertitta Entertainment’s Vice President of Business Development, Jill W. Humphrey, to find out more details about the deal. Humprhey shared the press release, but was unable to share further details by the time of this publication.
Caesars’ board of directors approved the transaction and is recommending that shareholders adopt and approve the merger agreement. The agreement includes a go-shop period through July 11, 2026, during which Caesars and its financial and legal advisors may solicit, consider, and negotiate alternative acquisition proposals from third parties.
The ownership will obviously come with some changes. Caesars Entertainment‘s change of ownership should be a done deal before the year is up. So keep your eyes open and your ears perked for the latest.
