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Caesars Entertainment to be acquired by Tilman Fertitta for $17.6 billion
Billionaire Tilman Fertitta is set to acquire Caesars Entertainment for $17.6 billion in the largest casino acquisition deal ever. Keep reading for details on this record-breaking casino merger.
Caesars Entertainment and Fertitta Entertainment have come to an agreement on what will be the biggest casino acquisition ever. Billionaire Tilman Fertitta and his company will purchase Caesars for a reported $17.6 billion. The all-cash deal will include 58 Caesars properties, $11.9 billion in company debt, and the Caesars Palace Online Casino brand. Speaking of which, if you haven't joined Caesars Palace Online, sign up with the SPORTSLINE2500 promo code and get a $10 sign-up bonus and up to $1,000 in casino credits:
Fertitta paying almost a 50% premium on share prices
According to a , Fertitta will pay shareholders $31 per share to buy the company. This amount represents a 49% premium on the unaffected stock price, or the price before the acquisition rumors began in late February.