Tilman Fertitta to buy Caesars Entertainment in $17.6B deal, taking casino giant private.

Hospitality billionaire Tilman Fertitta's firm announced a $17.6 billion deal to acquire Caesars Entertainment, including $11.9 billion in assumed debt. The acquisition will take Caesars, a major Las Vegas casino operator, private and expand Fertitta's leisure empire, which already includes the Golden Nugget Hotel and Casinos and the NBA's Houston Rockets. Caesars faces challenges from declining Las Vegas visitors and competition in online betting. The deal offers a nearly 50% premium on Caesars' stock price and includes a go-shop period until July 11 for alternative bids. Key Caesars executives are expected to remain post-acquisition, and regulatory approval is considered likely given Fertitta's political connections.