Fertitta Entertainment has agreed to acquire Caesars Entertainment for $5.7 billion, assuming $12 billion in debt. The deal values Caesars at about $17 billion.
- Caesars can seek competing bids until July 11. - Fertitta owns Golden Nugget, Rainforest Cafe, and Morton's.
- Caesars Palace opened in 1966, but the company dates to the 1930s. The acquisition marks a major consolidation in the casino industry.