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Fertitta Entertainment to acquire Caesars in $17.6b transaction
Caesars Entertainment announced Thursday that it entered into an agreement to be acquired and taken private by Fertitta Entertainment, the hospitality and gaming company controlled by billionaire Tilman Fertitta, in an all-cash transaction valued at $17.6 billion. The deal, which includes a “go-shop” period for Caesars through July 11th to consider other offers, has Fertitta Entertainment assuming $11.9 billion of Caesars’ outstanding debt. “Fertitta Entertainment brings a proven operating model with a track record of successfully integrating and growing leading hospitality and entertainment businesses,” Caesars said in a statement released this morning.
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