Casino News Roundup: Fertitta Seals $17.6bn Caesars Deal As Barry Diller Eyes MGM Takeover
Welcome to the Casino Daily News Roundup - your briefing on the latest news from the global casino industry. We bring you the biggest stories from across the sector, covering everything from major business deals and revenue figures to new openings and regulatory developments.
Fertitta Seals $17.6 Billion Deal To Acquire Caesars Entertainment in Las Vegas Landmark
One of the biggest casino deals in Las Vegas history is done. Tilman Fertitta has agreed to acquire Caesars Entertainment in an all-cash transaction valued at approximately $17.6billion - one of the highest-valued casino buyouts ever recorded on the Strip.
Caesars shareholders will receive $31 per share in cash, representing a 49% premium to the company's unaffected share price as of February 25, 2026 - the last trading day before rumours of a deal first emerged.
The total consideration comprises $5.7bn in cash and the assumption of approximately $11.9bn in Caesars' outstanding debt.
The Carano family, which owns around 5% of Caesars, has agreed to roll a portion of its equity into Fertitta Entertainment. Caesars will be taken private and delisted from NASDAQ upon completion.
The agreement includes a go-shop period through July 11, 2026, during which Caesars and its advisors can solicit and negotiate alternative acquisition proposals from third parties.
The deal is expected to close in 2027, subject to shareholder approval and regulatory sign-off across multiple state gaming jurisdictions.
Fertitta's existing hospitality empire includes the Golden Nugget hotels and casinos, the Landry's restaurant group, and the Houston Rockets NBA franchise.
Adding Caesars - which owns Caesars Palace, Harrah's, Paris Las Vegas,
The LINQ, Flamingo and Horseshoe, among others - would create one of the most significant privately-held casino and hospitality companies in the world.
The Las Vegas Culinary Workers Union - which represents tens of thousands of Strip employees - said it anticipated continuing its positive relationship with both companies and would be seeking discussions on the full ramifications of the purchase.
Those looking to explore the top 10 online casinos in the Caesars Digital portfolio can do so while the regulatory process plays out.
Barry Diller's People Inc. Makes $18 Billion Takeover Bid For MGM Resorts
The Caesars deal was not even a week old before a second major Las Vegas Strip takeover bid emerged.
Barry Diller's People Inc. - formerly IAC - submitted a non-binding proposal on June 1 to acquire the remaining 73.9% of MGM Resorts International it does not already own.
The offer is pitched at $48.30 per share in cash, valuing the casino giant at around $18bn including debt. People Inc. already holds a 26.1% stake in MGM, having first invested in 2020 based on a conviction that the company represents "a rare kind of business - one with real-world assets that AI cannot easily replicate."
The offer represents a 10.6% premium to MGM's closing price on May 29 and a 30% premium to the 90-day volume-weighted average price.
MGM confirmed receipt of the proposal and said its board would review it with financial and legal advisors.
Diller will recuse himself from any MGM board deliberations on the transaction.
The bid means two of the three largest Las Vegas Strip operators - MGM and Caesars - are simultaneously the subject of major private equity-style takeover attempts, a remarkable moment for an industry still navigating a tourism recovery from its difficult 2025.
While You Are Here, Why Not Check Out Our Free Slots and Free Casino Games?
European Commission Considers Pan-European Online Gambling Tax Worth €13.3 Billion
The Las Vegas takeover frenzy is not the only seismic development facing the global gambling industry this week.
The European Commission has shared proposals with national governments and the European Parliament estimating that a pan-European 3% levy on the net turnover of online gambling operators could generate around €1.9bn per year - or €13.3bn over the EU's next seven-year budget cycle from 2028 to 2034.
The proposals form part of a broader fiscal package covering digital services, gambling, and crypto assets that could collectively generate up to €11bn annually.
The gambling levy would sit on top of existing national taxes, potentially adding a significant additional burden on operators already navigating widely varying national regimes.
Malta - home to dozens of major iGaming licensees - is expected to fiercely oppose the proposal, and the plan requires unanimous approval from all 27 member states, giving any single country an effective veto.
The European Gaming and Betting Association has described a unified EU gambling tax as extremely difficult to enforce across the bloc's fragmented regulatory landscape.
