Caesars Entertainment shareholders have approved a multibillion-dollar merger with Fertitta Gaming that would create one of the largest gaming empires.
- Caesars has a dominant presence on the Las Vegas Strip, operating hotels like Caesars Palace, the Flamingo, and Harrah's, the AP reports. It also operates casino resorts across the United States.
- Fertitta owns Las Vegas' Golden Nugget and restaurant chains like Rainforest Cafe and Morton's. Billionaire owner Tilman Fertitta is the largest shareholder in Wynn Resorts and the sports betting company DraftKings. Fertitta, who also owns the NBA's Houston Rockets, stepped back from his role as president and director of his company following his April 2025 confirmation as US ambassador to Italy and San Marino.
Tuesday's vote took place in Reno, Nevada. With shareholders having one vote per share, there were over 133 million votes in favor of the merger and 4 million votes against, according to a Wednesday filing with the Securities and Exchange Commission. The merger was first announced in May, with Fertitta agreeing to pay $5.7 billion and take on close to $12 billion in debt from Caesars, putting the total value of the deal at about $17.6 billion. Caesars and Fertitta still must complete the federal antitrust review process. If it goes through, Caesars will become a privately-held company. Its shareholders will get $31 in cash for each share they own. Under the deal, 60 casinos nationwide will change ownership, including 15 in Nevada, reports the Nevada Independent.
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