Bloomberg / Getty Images
Caesars Entertainment agreed to be acquired by Fertitta Entertainment in an all-cash transaction valued at approximately $17.6 billion, including the assumption of approximately $11.9 billion of Caesars' outstanding debt, the companies said on Thursday.
Under the terms of the agreement, Caesars shareholders will receive $31.00 in cash for each outstanding share. The offer represents a 49% premium over Caesars' unaffected share price as of Feb. 25, 2026, the last trading day before rumors of a potential transaction emerged, and a 46% premium over the unaffected 30-day volume-weighted average price as of the same date, the company said.
Fertitta Entertainment is the holding company of Tilman Fertitta and Paige Fertitta, encompassing Golden Nugget Hotels and Casinos, the restaurant and hospitality company Landry's, and the NBA's Houston Rockets. The combined company would operate 60 casino resorts and gaming facilities, online gaming including sports betting and iCasino through Caesars' digital platform, retail sports betting at over 200 third-party locations through the William Hill brand, and more than 600 Fertitta Entertainment outlets including Landry's full-service restaurants.
