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Caesars has a dominant presence on the Las Vegas Strip,
operating hotels like Caesars Palace, the Flamingo and Harrah's.
It also operates casino resorts across the United States.
Fertitta owns Las Vegas' Golden Nugget and restaurant chains
like Rainforest Cafe and Morton's. Billionaire owner Tilman
Fertitta is the largest shareholder in Wynn Resorts and the
sports betting company DraftKings. Fertitta stepped back from
his role as president and director of his company following his
April 2025 confirmation as U.S. ambassador to Italy and San
Marino.
Tuesday's vote took place in Reno, Nevada, with over 133 million
votes in favor of the merger and 4 million votes against,
according to a Wednesday filing with the Securities and Exchange
Commission.
The merger was first announced in May, with Fertitta agreeing to
pay $5.7 billion and take on close to $12 billion in debt from
Caesars, putting the total value of the deal at about $17.6
billion.
Caesars and Fertitta still must complete the federal antitrust
review process. If it goes through, Caesars will become a
privately-held company. Its shareholders will get $31 in cash
for each share they own.
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