Fertitta Entertainment to Acquire Caesars Entertainment in $17.6 Billion Deal, CZR Shares Surge

Fertitta Entertainment agreed to acquire Caesars Entertainment (CZR) in a deal valued at approximately $17.6 billion, including debt, the companies announced on May 28, 2026. The transaction offers Caesars shareholders $82.50 per share in cash, reflecting a significant premium over its recent trading price. The merger has been unanimously approved by the boards of both companies and the controlling shareholder of Caesars supports it. The all-cash offer represents an enterprise value of $20 billion. The combined entity, which will retain the Caesars name and Las Vegas headquarters, is projected to generate over $20 billion in annual revenue, creating an integrated hospitality, entertainment, and gaming portfolio. Tilman Fertitta will serve as CEO, Chairman, and President of the combined company. The deal is expected to close in the second half of 2026, subject to customary regulatory approvals and closing conditions.