Caesars Entertainment to be Acquired by Fertitta Entertainment

Fertitta Entertainment, Inc., has signed an agreement to acquire Caesars Entertainment for $17.6 billion, including assuming about $11.9 billion of Caesars’ outstanding debt. 

Fertitta is the owner of Golden Nugget Hotels and Casinos, Landry’s restaurant group, and a slew of other entertainment and dining venues. Meanwhile, there are eight Las Vegas Strip hotels under Caesars Entertainment. The two companies combined will operate 60 casino resorts and gaming facilities. 

In a news announcement, Fertitta said the acquisition “brings together two iconic and highly complementary platforms, delivering guests an unmatched suite of gaming, entertainment, and restaurant brands under one roof.”   

“Fertitta Entertainment, alongside Caesars Entertainment, will create a combined company committed to dynamic offerings and unmatched customer loyalty. One built on a shared commitment to operational excellence, world-class customer service, and disciplined growth,” the company said. 

In a news release of its own, Caesars Entertainment said: “Fertitta Entertainment brings a proven operating model with a track record of successfully integrating and growing leading hospitality and entertainment businesses. The transaction positions Caesars to continue executing on the strategy that has made it the leading casino-entertainment company in the United States.” 

Caesars Entertainment’s leadership team – including CEO Tom Reeg, CFO Bret Yunker, and president and COO Anthony Caran – will all remain in their roles and continued to lead the company, now its eight Vegas properties operating under Fertitta: Caesars Palace, Harrah’s, Paris Las Vegas, Planet Hollywood, Horseshoe, The LINQ Hotel, Flamingo, and The Cromwell. 

The agreement also combines the company’s three loyalty programs: Caesars Rewards, Golden Nugget’s 24 Karat Select Club, and Landry’s Select Club.