Tilman Fertitta just bought himself one of the biggest casino empires on the planet. Fertitta Entertainment has entered into a definitive agreement to acquire Caesars Entertainment in an all-cash transaction valued at roughly $17.6 billion to $18 billion, including the assumption of approximately $11.9 billion in Caesars debt.
Caesars shareholders will receive $31 per share in cash. The deal, announced on May 28, 2026, is expected to close sometime in 2027, pending regulatory approvals.
From Golden Nugget to Caesars Palace
Fertitta already owned a sprawling portfolio of leisure and hospitality assets. The Golden Nugget casinos, the Landry’s restaurant empire, and the Houston Rockets NBA franchise all sit under his umbrella. Adding Caesars, with its network of more than 50 resorts and casinos across the US, transforms that portfolio into something closer to a hospitality superpower.
The path to this deal wasn’t exactly smooth. Exclusive negotiations between the two sides extended through April 2026, with initial equity bids reportedly landing around $7 billion at share prices in the $32 to $34 range back in March 2026. Those early numbers didn’t stick.
