Caesars—A Las Vegas Landmark—Will Be Sold For Nearly $6 Billion

BreakingBusinessCaesars—A Las Vegas Landmark—Will Be Sold For Nearly $6 BillionByAlicia Park,Reporter. I cover markets and tech.Follow AuthorMay 28, 2026, 09:16am EDTToplineTilman Fertitta, Trump's ambassador to Italy and billionaire real estate mogul, is buying Caesars Entertainment for $5.7 billion, folding one of the Las Vegas Strip's most recognizable operators into his sprawling empire that already includes the NBA's Houston Rockets, Golden Nugget casinos and Landry's restaurants. WASHINGTON, DC - Tilman Fertitta testifies during his Senate Foreign Relations Committee confirmation hearing on April 01, 2025 in Washington, DC. (Photo by Kayla Bartkowski/Getty Images)Getty ImagesKey FactsCaesars shareholders get $31 a share in cash, a 49% premium over the stock's price on Feb. 25, the last trading day before merger chatter leaked.Fertitta was a prominent donor to President Donald Trump's 2024 campaign and stepped down as CEO of Landry's and from the chairmanship of the University of Houston System's board to take the ambassador position last April—though he kept ownership of Fertitta Entertainment, the umbrella company for all the major assets he owns that is now buying Caesars. This is a developing story and will be updated.Got a tip? Share confidential information with Forbes.Editorial StandardsReprints & PermissionsLOADING VIDEO PLAYER...FORBES’ FEATURED Video