Caesars Entertainment Has Been Sold For $6 Billion

Caesars Entertainment has been acquired by Fertitta in a deal valued at roughly $6 billion. Fertitta also owns the Golden Nugget as well as restaurant chains including Rainforest Cafe and Morton's.

Under the agreement, Fertitta Entertainment will pay $5.7 billion and assume nearly $12 billion in Caesars’ debt putting the total value of the deal at about $17.6 billion.

Caesars became a landmark name in the casino industry following the opening of Caesars Palace in 1966, though the company’s history stretches back to the 1930s in Reno.