{"id":101,"date":"2026-05-28T12:19:46","date_gmt":"2026-05-28T12:19:46","guid":{"rendered":"https:\/\/officemovingamerica.com\/?p=101"},"modified":"2026-05-28T12:19:46","modified_gmt":"2026-05-28T12:19:46","slug":"fertitta-owned-firm-to-buy-caesars-entertainment-in-nearly-18-billion-leisure-push","status":"publish","type":"post","link":"https:\/\/officemovingamerica.com\/?p=101","title":{"rendered":"Fertitta-Owned Firm to Buy Caesars Entertainment in Nearly $18 Billion Leisure Push"},"content":{"rendered":"
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May 28 (Reuters) – Caesars Entertainment said on \u2060Thursday \u2060it will be bought out \u2060by Tilman Fertitta-owned firm in a $17.6 billion deal, \u200bas the hospitality billionaire looks to expand his leisure empire.<\/p>\n

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The deal, which will \u200ctake one of the Las \u200cVegas Strip’s most prized casino operators private, includes about $11.9 billion \u2060in assumed \u2060debt, the company said.<\/p>\n<\/div>\n

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Fertitta, the United States ambassador to Italy \u200band San Marino and owner of Fertitta Entertainment, offered $31 per share for the company, a nearly 50% premium to the stock’s closing price before the \u200bdeal was first reported in February.<\/p>\n<\/div>\n

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Fertitta Entertainment, which owns the Golden Nugget \u2060Hotel \u2060and Casinos and basketball \u2060team \u200bHouston Rockets, had approached Caesars in 2018 about merging it with his own \u200bgaming empire, Reuters \u2060had reported.<\/p>\n<\/div>\n

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Through his restaurant and hospitality company, Fertitta owns more than 600 properties in 36 states and over 15 countries, including casual dining brands such as Rainforest Caf\u00e9 and Bubba Gump Shrimp.<\/p>\n

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Caesars combined with smaller \u2060rival Eldorado Resorts in 2020 to form one of the biggest \u2060casino and entertainment companies in the United States \u2014 a deal set in motion after activist investor and billionaire Carl Icahn built a stake a year before and pushed the company to pursue a sale.<\/p>\n<\/div>\n

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Caesars controls more than 50 casinos across North America, including the Caesars Palace, Harrah’s and Eldorado. It also runs a retail and online sports-betting app.<\/p>\n<\/div>\n

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The company faces mounting pressure as \u2060fewer visitors to Las Vegas \u2014 its core market \u2014 dent revenue at resorts, hotels and casinos, while its online betting arm trails larger rivals like FanDuel and DraftKings and faces growing competition \u200bfrom prediction markets.<\/p>\n<\/div>\n

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(Reporting by Anshuman Tripathy in Bengaluru; Editing \u200bby Shilpi Majumdar and Vijay Kishore)<\/p>\n

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Copyright 2026 Thomson Reuters<\/b>.<\/p>\n<\/div>\n

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