Caesars Entertainment – Fertitta acquires competitor in $17.6 billion deal

Fertitta Entertainment takes over Caesars Entertainment for about $1.7 billion. In addition, there is a debt load of $1.9 billion.Caesars Entertainment has agreed to the acquisition. Fertitta Entertainment will pay $1 per share. This represents a premium of 49% over the price on February 25. However, Caesars can still seek and evaluate competing offers until July 11.In addition to the purchase price, there are also the obligations of Caesars Entertainment. Fertitta Entertainment will assume the debts, bringing the total deal to $1.6 billion.The board will recommend shareholders’ approval. There is a green light from the involved banks, and there are no financing conditions. If the deal goes through, the new company would consist of 60 casinos. It will also include online platforms as well as more than 600 restaurants and entertainment venues.https://pokerexclusive.com/news/caesars-entertainment-tilman-fertitta