Gaming companies and casinos get bought and sold all the time. However, what happens when the two biggest operators in Nevada — with 23 total properties on the Strip — are the ones being bought?
A couple of bombshells landed on the gaming industry in the past month. First, Caesars Entertainment said it would be bought by billionaire Tillman Fertitta for $17.6 billion, pending shareholder and regulatory approvals. Fertitta owns three Golden Nugget properties in Nevada.
Then, People Incorporated made an $18 billion offer to buy MGM Resorts. People is a publishing company headed by businessman Barry Diller, and it’s already MGM’s largest stakeholder. MGM’s board of directors, which includes Diller, is reviewing the deal.
