Caesars stockholders approve $6 billion merger with Fertitta
Summary
Caesars Entertainment shareholders voted to approve a merger with Fertitta Gaming worth about $17.6 billion, including debt. The merger will create one of the largest gaming companies, pending federal review, and Caesars will become privately owned.Key Facts
- Caesars Entertainment and Fertitta Gaming agreed to merge in a deal valued at about $17.6 billion, including debt.
- Fertitta will pay $5.7 billion and take on $12 billion of Caesars' debt.
- The merger vote had over 133 million shares in favor and 4 million against.
- Caesars operates prominent casinos like Caesars Palace, Flamingo, and Harrah's on the Las Vegas Strip.
- Fertitta Gaming owns the Golden Nugget casinos and restaurant chains such as Rainforest Cafe and Morton's.
- Tilman Fertitta is a large shareholder in Wynn Resorts and DraftKings.
- Fertitta stepped down from his company in April 2025 after becoming U.S. ambassador to Italy and San Marino.
- The merger still requires approval from federal antitrust regulators before it can be completed.
- If approved, Caesars shareholders will receive $31 per share in cash, and the company will go private.
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