Four years ago, Houston billionaire Tilman Fertitta gained a big foothold on the Las Vegas Strip with a high-priced real estate purchase.
He then acquired shares in Wynn Resorts and became its largest stockholder. And now, with a blockbuster deal unveiled Thursday, he is catapulting toward the top of Las Vegas’ famed casino corridor.
His conglomerate Fertitta Entertainment reached a deal to acquire casino giant Caesars Entertainment for $5.7 billion plus the assumption of nearly $12 billion in debt, putting the total transaction value at $17.6 billion.
In their news releases Thursday, neither company said when the deal is expected to close.
