Tilman Fertitta, the billionaire owner of Golden Nugget Atlantic City, got outbid by fellow billionaire Carl Icahn in the scramble to buy casino giant Caesars Entertainment.
But Caesars didn’t bite on the higher offer and left Fertitta on track to buy Caesars, documents filed with federal securities regulators show.
Fertitta Entertainment, the parent company of Golden Nugget Atlantic City, reached a deal in May to buy Caesars Entertainment. But the deal gave Caesars an out clause: They had until July 11 to find a better deal than the $17.6 billion that Texas mogul Fertitta offered.
As it turns out, they did get a higher offer.
