Parent Company of Golden Nugget Buying Caesars Entertainment in $17B Deal

Atlantic City, N.J. — Published reports say the parent company of Golden Nugget is buying Caesars Entertainment in a colossal deal worth over $17 billion.

According to the Las Vegas Review-Journal, Caesars Entertainment Inc. has entered into a definitive agreement to be acquired by Fertitta Entertainment, Inc., owned by Tilman Fertitta.

Forbes reports Fertitta would be paying $5.7B in cash and assume about $11.9B of Caesars' debt, bringing the total value of the deal to about $17.6 billion.

Fertitta owns the Golden Nugget casino brand; holds a double-digit ownership stake in Wynn Resorts; and Fertitta Entertainment is the parent company of Landry's, which operates restaurant chains such as Bubba Gump Shrimp Co., Rainforest Cafe, Morton's the Steakhouse, Chart House, and many others.

Caesars Entertainment operates over 50 casino and resort properties across North America, including Caesars, Harrah's, and Tropicana in Atlantic City.

KSNV-TV reports the combined company would become a massive player in the gaming and entertainment industry, with more than five dozen casino resorts and gaming facilities, online gaming and sports betting, retail sports betting at more than 200 third-party locations, and more than 600 Fertitta Entertainment outlets, restaurants, and amusement, entertainment, and aquarium venues.

The transaction still requires approval from Caesars' shareholders and must meet regulatory approvals.

Should the deal go through, Fertitta would own four of Atlantic City's nine casinos, or about 44% of the gaming properties in the World's Play Ground.

Chris Coleman is a South Jersey native and has been a cornerstone of the Atlantic City radio market since 1998. He serves as Brand Manager for WPG Talk Radio 95.5 and afternoon on-air personality for Cat Country 107.3. A five-time President's Circle award winner and Townsquare Media's 2024 Content Creator of the Year, Chris covers news, events, and stories of interest across Southern New Jersey. Story tips: chris.coleman@townsquaremedia.com