Houston billionaire Tilman Fertitta is setting himself up to be one of the biggest players on the Las Vegas Strip with his buyout of casino giant Caesars Entertainment Inc.
And with the deal, he also inked one of the highest-valued casino transactions in Las Vegas history.
His conglomerate Fertitta Entertainment Inc. reached a deal to acquire Caesars for $5.7 billion plus the assumption of $11.9 billion of debt, putting the total transaction value at $17.6 billion. The buyout was announced on May 28.
Another supersized deal could be on the way. Billionaire media mogul Barry Diller on Monday offered to buy out MGM Resorts International and take the Las Vegas casino giant private.
