Caesars Entertainment shareholders approved Fertitta Entertainment's proposed acquisition at a special meeting, according to Caesars' SEC filing. The offer is $31 per share, and Caesars expects the transaction to close by 26 June 2027, subject to review by the FTC and state regulators.
The deal remains subject to regulatory review, with Caesars and Golden Nugget casinos operating in some of the same markets.
Quarter ended 30 September 2026
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It was reported that Caesars Entertainment received Carl Icahn’s $34-per-share proposal, exceeding the $31 proposed by Fertitta Entertainment. Regulatory filings showed Caesars had not accepted Icahn’s offer.
Courtney Mather resigned from Caesars Entertainment’s board effective 6 July, the company said in a regulatory filing, according to the report. Caesars said the departure did not result from a disagreement with the company; Mather’s exit comes as Carl Icahn is reportedly preparing a possible competing bid for Caesars.
The Nevada Gaming Commission approved licences, amended registration orders and shelf offerings for separate proposed take-private transactions involving MGM Resorts International and Caesars Entertainment. Caesars is being acquired by Fertitta Entertainment in a $17.6 billion deal, subject to shareholder, competition and gaming-jurisdiction approvals; the commission also approved licences for two Fertitta Entertainment executives. MGM remains in discussions with Barry Diller’s People Inc., with further details expected on its second-quarter earnings call, the company’s legal counsel said.
Tom Reeg is expected to lead Tilman Fertitta’s Landry’s businesses, including Golden Nugget casinos, after Fertitta Entertainment completes its planned acquisition of Caesars Entertainment, reportedly. The $17.6 billion deal is expected to close by mid-2027; the report says Reeg would oversee the wider gaming, leisure and lodging portfolio but not Fertitta’s automotive, Houston Rockets or commercial property interests.
Caesars Entertainment and Fertitta Entertainment each received a second request from the US Federal Trade Commission for information and documents concerning their proposed merger, Caesars said in a filing. The companies have 30 days to respond. Caesars also disclosed that two board members appointed at Carl Icahn’s request had stepped down, and that the Icahn Group waived its right to name replacements.