Only a pair years after Caesars offered the World Series of Poker model to GGPoker, Golden Nugget proprietor Tilman Fertitta is acquiring Caesars Entertainment for $5.7 billion.
As a part of the acquisition, Fertitta additionally takes on $11.9 billion in debt. The acquisition consists of Caesars’ Las Vegas Strip properties just like the Horseshoe and Paris, dwelling to the WSOP. Beyond including Caesars properties throughout the nation, Fertitta is again within the on-line playing business. Fertitta takes management of the corporate’s digital on line casino, poker, and sports activities betting operations.
In 2021, Fertitta offered Golden Nugget’s on-line gaming platform to DraftKings for $1.56 billion. He now acquires a big on-line gaming enterprise that produced earnings of $69 million within the first quarter of this yr. Those figures are up from the $43 million in the identical quarter of 2025.
WSOP Online & Casinos Part Of Purchase
Card gamers could also be within the poker-related elements of the deal. GGPoker dad or mum firm NSUS Group bought the WSOP for $500 million in 2024. Caesars acquired a license from NSUS to proceed working the U.S.-facing WSOP-branded on-line poker enterprise. The web site operates in Nevada, New Jersey, Michigan, and Pennsylvania.
Caesars additionally secured the best from NSUS to proceed internet hosting the WSOP’s flagship dwell match sequence at its Las Vegas casinos for the subsequent 20 years. The on-line poker platform and the house to the dwell WSOP on the Strip now will likely be a part of Fertitta Entertainment if the deal is finally authorised.
Along with the Golden Nugget casinos, the 69-year-old Texas billionaire owns greater than 60 restaurant manufacturers, the NBA’s Houston Rockets franchise, and 12.1% in Wynn Resorts.
The deal provides Fertitta a major footprint in Sin City. His Fertitta Entertainment already owned the Golden Nugget downtown and is the most important shareholder within the Wynn. He now takes on Caesars Palace, Paris, Horseshoe, Linq, Flamingo, Cromwell, Harrah’s, and Planet Hollywood.
Fertitta is betting large on Las Vegas after the town noticed some financial uncertainty in 2025. Sin City skilled a major downturn in guests in 2025 however has lately seen an uptick.
“Tilman saw the potential to grab an asset that has value, from a brand perspective, and leverage that to double down on the gaming industry,” B Global consulting agency managing accomplice Brendan Bussmann advised the Wall Street Journal.
Some Analysts Think Deal Won’t Actually Go Through
The acquisition will fold Caesars into Fertitta Entertainment’s general holdings, that means the gaming large will go from a publicly traded firm to a part of the privately held agency.
“We take a longer-term perspective, and so we can make our investments that we think need to be made,” Fertitta Entertainment CFO Richard Liem advised the Journal. “It may take time for them to come to fruition, but historically, it has worked well for us.”
The deal additionally consists of all of Caesars’ greater than 50 casinos in places like Atlantic City, New Orleans, Virginia, Mississippi, Southern California, Illinois, different components of Nevada, and extra. Caesars executives, together with CEO Tom Reeg and CFO Bret Yunker, are anticipated to stay with Fertitta Entertainment when the deal is full, in line with Reuters.
As a part of the settlement, Caesars shareholders would obtain $31 per share in money, a 49% premium over the inventory’s worth on Feb. 25. The deal nonetheless permits Caesars, which had additionally seen curiosity from hedge fund supervisor and activist shareholder Carl Icahn, to contemplate different affords by means of July 11.
Caesars was the goal of an acquisition in 2020. El Dorado Resorts acquired the corporate at the moment for $7.2 billion in money. It additionally assumed greater than $10 billion in debt.
Along with operating his gaming and hospitality firm, Fertitta serves because the US ambassador to Italy and San Marino. Experts are divided on whether or not the acquisition can clear regulatory hurdles. The new merged firm would personal a big a part of the Las Vegas and nationwide on line casino business.
Macquarie analyst Chad Beynon set possibilities of finishing the deal at low. However, others pointed to Fertitta’s function within the Trump administration as a optimistic to seeing the acquisition get authorised.
Other Recent Casino Deals
Las Vegas has seen fairly a couple of on line casino offers in recent times. MGM Resorts offered the true property for Mandalay Bay and MGM Grand in 2020.
The firm additionally offered the Aria on line casino and CityHeart advanced on the Las Vegas Strip in 2021. The transfer was a part of MGM’s transition to an “asset-light” enterprise technique. MGM offered the underlying actual property, however retained possession of on line casino operations. Thus, they’re paying lease to function on Las Vegas Blvd.
In 2023, Realty Income Corporation, The Monthly Dividend Company, and Blackstone Real Estate Income Trust entered into an analogous deal by investing $950 million within the Bellagio.
