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Report: Casino mogul proposes merger with Caesars Entertainment


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Report: Casino mogul proposes merger with Caesars Entertainment

Casino owner Tilman Fertitta reached out to Las Vegas-based Caesars Entertainment Corp. for a possible merger, Reuters reported Oct. 17, citing informed sources.

According to the newswire, the owner of Golden Nugget Inc. Casinos and hospitality chain Landry's Holdings Inc. is proposing a reverse merger in which Caesars would be the acquirer.

The combined company, sources said, will see Caesars and its shareholders, including Apollo Global Management LLC and TPG Global LLC, remain as shareholders.

No deal is certain yet, according to the sources.

Caesars, which emerged from bankruptcy last year, has been concentrating on other acquisitions.

In July, the company closed its acquisition of casino and horse-racing firm Centaur Holdings LLC for $1.7 billion. Caesars is also reportedly among the possible bidders for JACK Entertainment LLC.