Caesars Entertainment to be acquired by Fertitta in $17B deal

Caesars Entertainment has reached a deal with Fertitta Entertainment to be acquired.

Fertitta is Texas billionaire Tilman Fertitta’s company. It owns Saltgrass Steakhouse, Golden Nugget Casinos, and the Houston Rockets.

The deal could have local implications for the Mississippi Gulf Coast where Caesars operates the Harrah’s Gulf Coast Casino in Biloxi.

Under the agreement, Caesars shareholders would receive 31 dollars per share, about a 49 percent premium over the company’s last trading price in February.

The more than $17 billion cash deal would also assume nearly $12 billion in Caesars debt.

The acquisition still requires approval from both shareholders and regulators before it can be finalized.