---
title: "Tilman Fertitta Acquires Caesars Entertainment in Deal Valued at $18B"
url: https://burnaze.com/article/d5ae6af1-ef96-4efb-a6ab-7936cd65431b
source: "Commercial Observer"
original_url: https://commercialobserver.com/2026/05/tilman-fertitta-acquires-caesars-entertainment/
author: "Amanda Schiavo"
category: "Real Estate"
topics: ["Finance & M&A"]
published: 2026-05-28T14:18:06.000Z
modified: 2026-10-31T13:18:26.113Z
image: https://commercialobserver.com/wp-content/uploads/sites/3/2026/05/Tilman-Fertitta-Caesars-Palace-Vegas-credit-Getty-Images.jpg?quality=80&resize=1200%2C630&strip=
---

# Tilman Fertitta Acquires Caesars Entertainment in Deal Valued at $18B

**TL;DR:** Tilman Fertitta's Fertitta Entertainment has acquired Caesars Entertainment in a deal valued at $17.6 billion. The acquisition adds Caesars' more than 50 resorts to Fertitta's portfolio, which includes the Golden Nugget Hotel and Casinos chain and the restaurant company Landry's.

*By Amanda Schiavo, originally published in Commercial Observer on 2026-05-28. [Read the original](https://commercialobserver.com/2026/05/tilman-fertitta-acquires-caesars-entertainment/).*

## Story

**Fertitta Entertainment**, the multinational gaming and hospitality giant owned by billionaire **Tilman Fertitta**, has gone all in with its latest acquisition.

Fertitta owns the **Golden Nugget ​Hotel and Casinos** chain and the restaurant company **Landry’s**, as well as the basketball team the **Houston Rockets**. Now, the billionaire has acquired famed Las Vegas casino operator **Caesars Entertainment** in a deal valued at a monumental $17.6 billion, the company announced Thursday. As part of the deal, Fertitta will add Caesars’ more than 50 resorts to its portfolio.

The all-cash transaction includes the assumption of approximately $11.9 billion of Caesars’ outstanding debt, and will result in the company going private. Part of the deal will see Caesars shareholders receive $31 per share in cash, which represents 49 percent of the unaffected share price, as of Feb. 25.

A representative for Caesars declined to comment on the deal, while a spokesperson for Fertitta Entertainment did not immediately respond to a request for comment.

“Fertitta Entertainment brings a proven operating model with a track record of successfully integrating and growing leading hospitality and entertainment businesses,” the companies wrote in a joint announcement Thursday. “The transaction positions Caesars to continue executing on the strategy that has made it the leading casino-entertainment company in the United States.”

**PJT Partners** is serving as the exclusive financial adviser for the deal. Representatives for the firm did not immediately respond to a request for comment.

Shares of Caesars had risen by over 2.5 percent in pre-market trading Thursday morning, and opened in the green above 1 percent at the bell.

Completion of the deal comes after Fertitta made a $7 billion bid for Caesars back in March, Commercial Observer had previously reported, beating a competing offer from the firm of billionaire investor **Carl Icahn**. (Fertitta’s new deal — with an equity value of about $5.7 billion — is lower than his initial bid.)

Caesars CEO **Tom Reeg**, Chief Financial Officer **Bret Yunker**, and President and Chief Operating Officer **Anthony Carano** are all expected to remain in their positions leading Caesars’ operations at the combined company.

## Entities

- private equity (topic)
- Real Estate (sector)
- Commercial Observer (publication)
- Amanda Schiavo (person)
- Caesars Entertainment (company)
- gaming industry (topic)
- Fertitta Entertainment (company)
- Tilman Fertitta (person)
- PJT Partners (company)
- Carl Icahn (person)
- Golden Nugget Hotel and Casinos (company)
- Landry's (company)

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Originally reported by Amanda Schiavo, Commercial Observer (https://commercialobserver.com/2026/05/tilman-fertitta-acquires-caesars-entertainment/). Summarized by Burnaze (https://burnaze.com/article/d5ae6af1-ef96-4efb-a6ab-7936cd65431b).