Tilman Fertitta’s Firm Agrees to Buy Caesars in $5.7 Billion All-Cash Deal

Despite challenges from prediction markets, Ozempic and rising costs, the restaurateur owner of the Houston Rockets seeks to add 50 locations, and a mountain of debt, to his existing empire.

Tilman Fertitta already owns Landry's, the Houston Rockets, and the Golden Nugget casinos. Now he's adding Caesars to his empire.

Tilman Fertitta Nears $5.7 Billion Caesars Takeover Tilman Fertitta, the Texas billionaire behind Golden Nugget and Landry’s, is nearing a $5.7 billion takeover of Caesars Entertainment — a deal that would dramatically expand his footprint across casinos, hotels, and restaurants, according to Bloomberg. The merger would unite Caesars’ gaming operations with Fertitta’s hospitality empire, which includes brands such as Mastro’s, Bubba Gump Shrimp, Rainforest Cafe, and several casino properties. Certain assets, including the Houston Rockets and some hotels, are expected to stay separate from the deal. Bloomberg reports that Fertitta, 68, began working in his family’s seafood business in Galveston before building Landry’s into one of the country’s largest hospitality companies. After weathering the Texas oil crash in the 1980s, he grew through aggressive acquisitions and entered the casino industry with the purchase of Golden Nugget in 2005. Recognized for his hands-on leadership and lavish business style, Fertitta became a national media figure through CNBC’s Billion Dollar Buyer and later served as U.S. ambassador to Italy and San Marino under President Donald Trump. Caesars would give Fertitta a larger presence on the Las Vegas Strip, something he has sought for years. He first attempted to acquire the company in 2018. More recently, he became Wynn Resorts’ largest shareholder after publicly criticizing the company’s direction. Despite owning major casino and online betting businesses, Caesars has faced slowing Las Vegas demand, softer regional results, and increasing pressure from betting competitors including FanDuel and DraftKings. Fertitta’s broader portfolio also includes hotels, luxury car dealerships, and entertainment venues. His personal assets reportedly include a 384-foot yacht and a Gulfstream G700 jet. The Houston Rockets, which he bought in 2017 for $2.2 billion, are now estimated to be worth about $5.5 billion. Tyler Durden Thu, 05/28/2026 - 18:00

Real estate mogul Tilman Fertitta’s years-long quest to buy Caesars Entertainment Inc. is finally paying off: His firm struck a $5.7 billion, all-cash deal for the Las Vegas company on Thursday that will add some 52 casinos in the US to his entertainment empire. Fertitta’s pursuit of Caesars dates as far back as 2018, when the owner of the Golden Nugget casinos approached the company about a possible merger. Fertitta had borrowed heavily to buy the Houston Rockets basketball team for $2.2 billion, and the potential merger was seen at the time as a means of folding his debt into a larger company.  Fertitta eventually built a stake in Caesars, signaling his continued interest in a tie-up. As part of the takeover announced on Thursday, Fertitta Entertainment Inc. is paying Caesars shareholders $31 a share in cash. We get reaction from Jody Lurie, Senior Credit Analyst for Bloomberg Intelligence. (Source: Bloomberg)

All-cash takeover will be one of the biggest gaming deals in years

Fertitta Entertainment plans to buy Caesars Entertainment in an all-cash agreement valued at roughly $17.6 billion, including the assumption of… Continue reading Fertitta Entertainment strikes multibillion dollar deal to acquire Caesars operations The post Fertitta Entertainment strikes multibillion dollar deal to acquire Caesars operations appeared first on ReadWrite.