Shareholders of Caesars Entertainment have approved a major merger agreement with Fertitta Gaming, a move that would consolidate two significant players in the American hospitality and gaming sectors. The vote was held Tuesday in Reno, Nevada, with regulatory filings submitted Wednesday to the Securities and Exchange Commission.
The vote tallied more than 133 million shares in favor of the deal, with approximately 4 million votes cast against it. If the transaction proceeds, Caesars will transition from a publicly traded entity to a privately-held company, and its shareholders will receive $31 in cash for each share they own.
First revealed in May, the financial structure of the acquisition requires Fertitta to pay $5.7 billion directly, while also assuming roughly $12 billion in existing Caesars debt. This brings the aggregate value of the deal to an estimated $17.6 billion.
Caesars Entertainment maintains a prominent footprint on the Las Vegas Strip, managing iconic properties such as Caesars Palace, the Flamingo, and Harrah’s. The corporation also oversees casino resorts throughout the United States.
Fertitta Gaming’s portfolio includes the Golden Nugget in Las Vegas, alongside well-known restaurant operations like Rainforest Cafe and Morton’s. Tilman Fertitta, the billionaire behind Fertitta Gaming, also holds the largest stake in Wynn Resorts and sports betting operator DraftKings.
Fertitta stepped down from his position as president and director of Fertitta Gaming following his confirmation in April 2025 as the U.S. ambassador to Italy and San Marino.
The deal is still subject to federal antitrust review. Once that process is concluded, the merger is expected to create one of the largest gaming empires in the country.
$31 a share is pretty solid. Betting the antitrust review clears it so I can collect my payout soon.
Wait, didn’t Fertitta just become ambassador? This feels like a massive conflict of interest waiting to happen.