Fertitta Entertainment reached a definitive agreement to acquire Caesars Entertainment in an all-cash transaction. The deal values Caesars at approximately $17.6 billion, including the assumption of existing debt. Caesars shareholders will receive $31.00 per share under the terms of the agreement.
The acquisition will take the casino giant private. This merger combines Fertitta’s Golden Nugget casinos and Landry’s restaurant group with Caesars’ extensive properties on the Las Vegas Strip and across the United States.
The transaction remains subject to approval by Caesars shareholders and regulatory authorities. A go-shop period allows Caesars to solicit competing acquisition proposals from other parties. The existing Caesars leadership team will remain in their roles following the completion of the transaction.