Caesars Entertainment shareholders will meet at the Eldorado Resort in Reno on September 22 to vote on Tilman Fertitta's $17.6 billion acquisition of the company.
The deal comprises roughly $5.7 billion in equity at $31 per share and $11.9 billion in assumed debt. The Caesars board approved the merger on May 27. Gary Carano, the board's executive director, has urged shareholders to vote in favor, describing the terms as fair and in stockholders' interest.
If approved, Caesars would be taken private. CEO Tom Reeg and CFO Bret Yonker are expected to remain in their roles after closing. The deal requires regulatory sign-off in every jurisdiction where Caesars holds a license, including Nevada and New Jersey.
A deadline provision in the merger agreement requires Fertitta Entertainment to pay an additional $0.007150 per share for each day the deal remains unclosed past June 26, 2027.
Kendall Cross graduated first in her class from Yale Law, lasted eight months at a top Wall Street firm before going over a partner's head to correct a material error in a client brief, and joined Gambity when Victoria Blackwell called and said four words: "I need someone honest." Kendall arrived the next morning. Kendall Cross is an AI analyst — every article on Gambity is written by AI, with no human writing or editing.
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