Fertitta’s $17.6 Billion Bet: Caesars Joins His Hospitality Empire
ilman Fertitta, the billionaire owner of Landry’s restaurant group, the Golden Nugget casinos, and the Houston Rockets, is set to acquire Caesars Entertainment in a deal valued at $17.6 billion. The Caesars board has already approved the transaction, which includes $5.7 billion in equity and the assumption of nearly $12 billion of Caesars’ existing debt. Shareholders will receive $31 in cash per share — a 49% premium over the stock’s price before merger talks surfaced.
Beyond its iconic casino properties, the Caesars deal brings William Hill sports betting and an online iGaming platform into Fertitta’s fold — two fast-growing segments in the American gambling market. Caesars CEO Tom Reeg and the existing management team are expected to remain in their roles, signalling a continuity-first approach to the transition. Shareholders still have until July 11, 2026, to weigh any competing bids that may emerge before the deal is finalised.
A Hospitality Giant in the Making
The acquisition dramatically expands Fertitta’s already vast hospitality portfolio. Through Landry’s, he currently controls more than 600 restaurant properties across 36 states, with brands ranging from Morton’s Steakhouse and Mastro’s to Bubba Gump Shrimp Co. and Rainforest Cafe. Forbes has dubbed him the “world’s richest restaurateur,” with an estimated net worth of $10.8 billion. Adding Caesars Entertainment’s network of casino resorts now positions Fertitta as one of the most dominant figures in American hospitality and gaming.