Anabelle Colaco
30 May 2026, 11:40 GMT+10
LAS VEGAS, Nevada: Caesars Entertainment, one of the most recognizable names on the Las Vegas Strip, is being acquired by Fertitta Entertainment in a deal valued at about US$17.6 billion, including debt.
Fertitta Entertainment, which owns the Golden Nugget casino brand as well as restaurant chains including Rainforest Cafe and Morton's, will pay $5.7 billion in cash and assume nearly $12 billion in Caesars debt.
The deal marks a major shift in the U.S. casino and hospitality industry, bringing together two well-known gaming and entertainment operators.
Caesars became a Las Vegas icon after the opening of Caesars Palace on the Strip in 1966, though the company's history dates back to the 1930s in Reno, Nevada.
Under the agreement, Caesars investors will receive $31 in cash for each share they own, representing a 49 percent premium over the company's stock price before reports of a possible merger surfaced in February.
Caesars shares, which have already gained about 15 percent since takeover speculation began, rose nearly 2 percent in premarket trading on Thursday.
The agreement also includes a "go-shop" provision allowing Caesars to seek alternative bids through July 11.
Get a daily dose of Chicago Chronicle news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Chicago Chronicle.
More InformationLAS VEGAS, Nevada: Caesars Entertainment, one of the most recognizable names on the Las Vegas Strip, is being acquired by Fertitta...
NEW YORK, New York - U.S. stocks rallied to fresh all-time highs on Friday, capping a winning week with broad-based gains as the Dow...
WASHINGTON, D.C.: The U.S. Postal Service has signed a multi-year agreement with DHL eCommerce for last-mile parcel delivery services...
UPPSALA, Sweden: Ukraine's President Volodymyr Zelenskyy and Sweden's Prime Minister Ulf Kristersson said that Ukraine will buy 20...
ZURICH/HONG KONG: Hong Kong has surpassed Switzerland to become the world's largest center for cross-border wealth management, driven...
NEW YORK, New York - U.S. stock markets closed higher Thursday, with the Nasdaq Composite and Standard and Poor's 500 each hitting...
WASHINGTON, D.C.: Americans are increasingly cutting back on spending despite U.S. stock markets hovering near record highs, as elevated...
(Photo credit: Jerome Miron-Imagn Images) MacKenzie Gore allowed four hits over 6 1/3 scoreless innings, and Ezequel Duran's two-run...
(Photo credit: Patrick Gorski-Imagn Images) Miguel Vargas smacked a game-ending two-run home run against Drew Anderson in the 10th...
(Photo credit: Jeff Curry-Imagn Images) Ivan Herrera belted a go-ahead solo homer in the fifth inning, fueling the host St. Louis...
(Photo credit: Matt Marton-Imagn Images) Nia Coffey had 20 points and eight rebounds and Natasha Howard scored 14 as they triggered...
(Photo credit: Scott Wachter-Imagn Images) San Antonio Spurs associate head coach Sean Sweeney is set to become head coach of the...
