According to a report by Reuters, Caesars Entertainment is trying to work on a merger deal. The news is been coming that Caesars has been contacted by the owner of the Golden Nuggets Casino Tilman Fertitta.
Fertitta is one of the wealthiest men behind the gaming industry. He also owns the Houston Rockets of the NBA and the Landrys restaurant and Entertainment Company. The deal would result in a reverse merger with Caesars acquiring Golden Nuggets would see Fertitta steering the ship.
Caesars worth is around $4.5 billion according to Forbes Magazine and Fertitta’s company has a market capitalization of approximately $6.3billion. Fertitta has offered $13 per share, but this is yet to be confirmed, it was reported by CNBC.
According to Cameron McKnight, a gaming analyst, he said merger is good and beneficial for both, Caesars and Fertitta. He told investors, “The Brands and Casinos and restaurant assets are very complimentary. Tilman Fertitta would be a great addition to the management team.
Caesars is one of the largest gambling operators in Las Vegas. It owns the Caesars, horseshoe and Harrah’s brand, as well as the World Series of Poker. It had recently emerged from a two year bankruptcy late last year and since then it has been on a expansion mission.