Fertitta to Acquire Caesars in $17.6B All-Cash Deal at $31 Per Share
CZR•Caesars Entertainment agreed to be acquired by Fertitta Entertainment in an all-cash $17.6 billion deal valuing shares at $31 each, an 8% premium to its last closing price. The transaction, approved by Caesars’ board, includes the assumption of $11.9 billion in debt and offers shareholders a 49% gain since February.
1. All-Cash Acquisition Details
Caesars has agreed to be acquired by Fertitta Entertainment in an all-cash transaction valued at $17.6 billion, including the assumption of approximately $11.9 billion in outstanding debt. The deal values Caesars shares at $31 each, representing an 8% premium to the May 27 closing price and a 49% premium since late February.
2. Strategic Expansion
Post-merger, the combined company will operate a portfolio of 60 casino resorts, over 200 retail sports betting locations under the William Hill brand, and a digital platform offering sports betting, iCasino and online poker. Fertitta’s existing network of more than 600 hospitality venues, including Landry’s full-service restaurants and entertainment attractions, will integrate with Caesars’ properties to broaden guest experiences.
3. Approvals and Go-Shop Window
Caesars’ board has unanimously approved the transaction and recommends shareholder approval. A go-shop period runs through July 11, 2026, giving the company and its advisers the opportunity to solicit and negotiate alternative acquisition proposals.
