Tilman Fertitta Nears $5.7 Billion Caesars Takeover

Tilman Fertitta, the Texas billionaire behind Golden Nugget and Landry’s, is nearing a $5.7 billion takeover of Caesars Entertainment — a deal that would dramatically expand his footprint across casinos, hotels, and restaurants, according to Bloomberg.

The merger would unite Caesars’ gaming operations with Fertitta’s hospitality empire, which includes brands such as Mastro’s, Bubba Gump Shrimp, Rainforest Cafe, and several casino properties. Certain assets, including the Houston Rockets and some hotels, are expected to stay separate from the deal.

Bloomberg reports that Fertitta, 68, began working in his family’s seafood business in Galveston before building Landry’s into one of the country’s largest hospitality companies. After weathering the Texas oil crash in the 1980s, he grew through aggressive acquisitions and entered the casino industry with the purchase of Golden Nugget in 2005.

Recognized for his hands-on leadership and lavish business style, Fertitta became a national media figure through CNBC’s Billion Dollar Buyer and later served as U.S. ambassador to Italy and San Marino under President Donald Trump.

Caesars would give Fertitta a larger presence on the Las Vegas Strip, something he has sought for years. He first attempted to acquire the company in 2018. More recently, he became Wynn Resorts’ largest shareholder after publicly criticizing the company’s direction.

Despite owning major casino and online betting businesses, Caesars has faced slowing Las Vegas demand, softer regional results, and increasing pressure from betting competitors including FanDuel and DraftKings.

Fertitta’s broader portfolio also includes hotels, luxury car dealerships, and entertainment venues. His personal assets reportedly include a 384-foot yacht and a Gulfstream G700 jet. The Houston Rockets, which he bought in 2017 for $2.2 billion, are now estimated to be worth about $5.5 billion.