Caesars Entertainment, a Las Vegas Strip icon, is sold for $6 billion

Associated Press

Thu, May 28, 2026 astatine 6:58 AM CDT 1 min read

Caesars Entertainment is being acquired for astir $6 cardinal by Fertitta, the institution that owns Las Vegas' Golden Nugget and chains similar Rainforest Cafe and Morton's.

Caesars became an iconic sanction aft the opening of Caesar's Palace connected the Las Vegas Strip successful 1966. However, its roots day backmost to the 1930s successful Reno, Nevada.

Fertitta Entertainment volition wage $5.7 cardinal and instrumentality connected adjacent to $12 cardinal successful indebtedness from Caesars, putting the full worth of the woody astatine astir $17.6 billion.

As portion of the agreement, Caesars tin question competing bids done July 11.

Caesars investors volition get $31 successful currency for each stock they own, a 49% premium implicit the stock terms earlier chatter astir a imaginable tie-up betwixt the 2 amusement companies began successful February.

Shares of Caesars Entertainment Inc., which are up 15% since merger rumors emerged, roseate astir 2% earlier the opening doorbell Thursday.