3 hours ago - Business

Caesars sold to Trump ally and Houston Rockets owner Tilman Fertitta

Nathan Bomey

Sunlit, ornate building labeled "THE FORUM SHOPS" with statues and an arched entrance, and a circular fountain in the foreground; blue sky and a construction crane to the right. — The exterior of Caesars Palace in Las Vegas on April 27. Photo: Tayfun Coskun/Anadolu via Getty Images

Casino giant Caesars Entertainment has agreed to sell itself to the owner of the Golden Nugget casino chain amid a downturn in Las Vegas.

Why it matters: The deal drives further consolidation of major Las Vegas properties and marks the culmination of a years-long pursuit by billionaire Tilman Fertitta.

Fertitta, an ally of President Trump, is the current U.S. ambassador to Italy and the owner of the entertainment company Landry's and the NBA's Houston Rockets.

Zoom in: Fertitta Entertainment is acquiring Caesars in a deal valued at $17.6 billion, which includes the assumption of $11.9 billion in debt.

Caesars properties in Las Vegas include the sprawling Caesars Palace, The Flamingo, Planet Hollywood and the Horseshoe.
The company owns, leases or manages 52 domestic properties in 18 states, with 51,400 slot machines, video lottery terminals and e-tables, plus about 2,700 table games and 45,600 hotel rooms, according to a public filing.

Threat level: The casino industry is grappling with many challenges, including:

Declining tourism in Las Vegas, which recorded a 7.5% drop in visitors in 2025.
Record-low consumer sentiment and concerns about the job market.
The rise of online sports gambling, prediction markets and internet gambling sites — some legal, some not.

The bottom line: Caesars is poised to go private after securing regulatory approvals.

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Caesars sold to Trump ally and Houston Rockets owner Tilman Fertitta

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