Fertitta to Acquire Caesars for $5.7 Billion, Assumes $11.9 Billion Debt
CZR•Fertitta Entertainment agreed to acquire Caesars Entertainment for $5.7 billion at $31 per share and will assume its $11.9 billion debt. The deal, approved by Caesars’ board with a go-shop period until July 11, expands Fertitta’s portfolio to over 60 casino resorts and integrates loyalty networks.
1. Acquisition Agreement
Fertitta Entertainment agreed to purchase Caesar Entertainment for $5.7 billion at $31 per share and will assume Caesars’ $11.9 billion debt. Caesars’ board has approved the merger and recommended shareholders vote in favor of the transaction.
2. Financing Structure
The acquisition will be funded through a mix of equity contributions from Fertitta Entertainment, assumption of existing $11.9 billion debt, and newly committed debt facilities arranged by a consortium of ten banks.
3. Portfolio Expansion and Synergies
The deal adds over 50 Caesars resorts to Fertitta’s existing assets, bringing the combined company to more than 60 casino resorts and gaming facilities. It also integrates the Caesars Rewards loyalty network with Fertitta’s 600 hospitality outlets and expands online and retail sports betting under the William Hill brand.
4. Go-Shop Period Details
A go-shop period runs until July 11, allowing Caesars to seek superior proposals before finalizing the sale. Completion of the merger remains subject to shareholder approval and customary closing conditions.




