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Caesars shareholders approve $17.6B Fertitta buyout
KSNV • • business
Key Points:
- Caesars Entertainment shareholders have approved Fertitta Entertainment’s $17.6 billion buyout of the Nevada-based casino company during a special meeting in Reno.
- The merger proposal received about 133.3 million votes in favor, representing 65.4% of Caesars’ outstanding common shares, with 4.3 million votes against.
- Fertitta Entertainment will acquire Caesars in an all-cash deal valued at $5.7 billion and assume approximately $11.9 billion in debt.
- Caesars shareholders are expected to receive $31 per share in cash upon closing, plus an additional daily payment after June 26, 2027, if the merger is delayed.
- The merger will make Caesars a wholly owned subsidiary of Fertitta Gaming Holdco, LLC, and shareholders also approved executive compensation related to the merger on an advisory basis.
