Caesars Entertainment sold in major Las Vegas casino deal

Anabelle Colaco
30 May 2026, 11:40 GMT+10

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
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

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.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Baton Rouge Post.

More Information

Business

Section

Caesars Entertainment sold in major Las Vegas casino deal

LAS VEGAS, Nevada: Caesars Entertainment, one of the most recognizable names on the Las Vegas Strip, is being acquired by Fertitta...

U.S. stocks move higher Friday, Nasdaq adds 55 points

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...

USPS secures major multi-year partnership with DHL

WASHINGTON, D.C.: The U.S. Postal Service has signed a multi-year agreement with DHL eCommerce for last-mile parcel delivery services...

Sweden to sell Ukraine 20 new Gripen jets, donate older ones

UPPSALA, Sweden: Ukraine's President Volodymyr Zelenskyy and Sweden's Prime Minister Ulf Kristersson said that Ukraine will buy 20...

Hong Kong becomes world’s largest offshore wealth center

ZURICH/HONG KONG: Hong Kong has surpassed Switzerland to become the world's largest center for cross-border wealth management, driven...

Technology stocks back in vogue on Wall Street Thursday

NEW YORK, New York - U.S. stock markets closed higher Thursday, with the Nasdaq Composite and Standard and Poor's 500 each hitting...

World

Section