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After announcing the planned sale in May, Caesars Entertainment is one step closer to being merged with Fertitta Entertainment. Executives from Fertitta met with the Nevada Gaming Control Board on July 8th and were approved to move ahead with the purchase of the iconic Caesars brand. However, Fertitta Entertainment still needs approval in other states where Caesars operates.
NGCB Approves Fertitta Entertainment Execs
Buying a casino brand, especially one as well-known and far-reaching as Caesars, is not a fast process. Fertitta Entertainment reached a deal to purchase Caesars Entertainment in May, but there are many hoops to jump through before the sale is finalized.
Fertitta Entertainment cleared one obstacle earlier this month in Nevada.
The NGCB unanimously approved Steven Scheinthal and Richard Liem to acquire Caesars on July 8th. Scheinthal and Liem are two of the three board members for Fertitta Entertainment. The third, Paige Fertitta, was approved in the summer of 2025.
How Much Is Caesars Selling For?
Fertitta Entertainment agreed to purchase Caesars Entertainment in a $17.6 billion deal. The agreement includes $6 billion in cash, and Fertitta Entertainment will also assume nearly $12 billion in Caesars’ debt.
Who Is Fertitta Entertainment?
The Fertitta name is well-known in Sin City. Fertitta Entertainment owns the Golden Nugget and numerous other businesses in downtown Las Vegas. It also owns the Houston Rockets.
Fertitta Entertainment was owned and operated by Tilman Fertitta, but he stepped down as CEO when he became the US Ambassador to Italy. The investment company is now run by Tilman’s wife, Paige, as well as Steven Scheinthal and Richard Liem.
Tilman’s work should not be confused with his cousins’, Frank III and Lorenzo. The brothers founded Fertitta Capital and own numerous Las Vegas properties, including Red Rock Resorts and Station Casinos. They also used to own the UFC.
What Is Next for the Sale of Caesars Entertainment?
Securing NGCB approval is a major step, but there is still a way to go before Caesars can merge with Fertitta Entertainment.
One of the biggest hurdles is securing approval from every state where Caesars Entertainment operates. Fertitta Entertainment must have approved suitability applications in each state where one of Caesars’ 50+ properties is located.
The application process can take months. It was expedited in Nevada as the NGCB was already familiar with Fertitta Entertainment, which owns the Golden Nugget Casino in Las Vegas.
Even after gaining approval from individual states, there is still more work to do. Caesars Entertainment’s shareholders must approve the deal. Then Fertitta Entertainment must pony up $6 billion in cash for the deal and assume close to $12 billion of Caesars’ debt.
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