Tilman Fertitta approaches Caesars about potential merger

Tilman Fertitta approaches Caesars about potential merger

October 17, 2018 9:00 PM
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Tilman Fertitta reportedly has approached Caesars Entertainment about a potential merger agreement.

Fertitta owns the Golden Nugget brand, which includes casinos in downtown Las Vegas, Laughlin, Nev., Atlantic City, Biloxi, Miss., and Lake Charles, La., in addition to the NBA’s Houston Rockets.

Reuters was the first to report Fertitta’s interest in Caesars. That news resulted in Caesars' stock price rising 12 percent Wednesday. CNBC reported Fertitta's offer was for $13 a share. Bloomberg, meanwhile, reported the deal actually would be Golden Nugget merging into Caesars.

Caesars, which emerged a year ago from a bankruptcy reorganization that eliminated more than half of a $25 billion debt, operates nearly 50 casinos in the United States.

Forbes reported Tilman Fertitta’s net worth at $4.5 billion. He is a cousin of Frank and Lorenzo Fertitta, who own Station Casinos.