Houston Rockets owner Tilman Fertitta buys Caesars Entertainment for $18B, betting big on Las Vegas casinos.

Tilman Fertitta's holding company, Fertitta Entertainment, has agreed to acquire Caesars Entertainment in an all-cash deal valued at nearly $18 billion, including debt. This acquisition expands Fertitta's casino portfolio, which already includes Golden Nugget casinos and Landry’s hospitality, and strengthens his presence in Las Vegas, where Caesars operates eight locations on the Strip. The deal highlights a significant bet on the Las Vegas casino market, with Fertitta aiming to capitalize on the city's gaming and hospitality sector. Caesars' shares rose following the announcement, reflecting investor confidence in the deal.