According to Bloomberg, Tilman Fertitta, the owner of the Golden Nugget casinos, has approached Caesars Entertainment about a possible merger, according to people familiar with the billionaire’s plans.
“It’s been wild times in gaming,” he said. “Stocks in my space are off anywhere between 10 [percent] and 50 percent”, reported CNBC.
Sources told CNBC on Wednesday, October 17, that Golden Nugget Casinos owner Tilman Fertitta wants to make a deal with Caesars Entertainment that values the casino at US$13 per share.
The reverse merger, with Caesars as the acquirer, would exchange stock in a private company owned by Fertitta for shares in Caesars. Fertitta, who also owns the Houston Rockets basketball team, would serve as chairman and CEO of the combined company.