US gambling giants to merge?
News on 18 Oct 2018
News on 18 Oct 2018
The Reuters news agency reported Thursday that Golden Nugget owner Tilman Fertitta has approached U.S. casino operator Caesars Entertainment with a merger proposal, sending Caesars stocks soaring.
Quoting anonymous sources close to the discussion, Reuters said the deal envisaged a reverse merger in which Caesars would be the acquirer, receiving stocks in a private company owned by Fertitta for shares in Caesars, with Fertitta serving as chairman and CEO of the combined company.
Neither company has responded to the report despite the uptick in investor interest which drove Caesar’s share price up 14 percent.
Golden Nugget Casinos is part of a conglomerate of restaurants and entertainment chain under a company called Landry’s – operating over 600 US properties.
News on 18 Oct 2018
The Reuters news agency reported Thursday that Golden Nugget owner Tilman Fertitta has approached U.S. casino operator Caesars Entertainment with a merger proposal, sending Caesars stocks soaring.
Quoting anonymous sources close to the discussion, Reuters said the deal envisaged a reverse merger in which Caesars would be the acquirer, receiving stocks in a private company owned by Fertitta for shares in Caesars, with Fertitta serving as chairman and CEO of the combined company.
Neither company has responded to the report despite the uptick in investor interest which drove Caesar’s share price up 14 percent.
Golden Nugget Casinos is part of a conglomerate of restaurants and entertainment chain under a company called Landry’s – operating over 600 US properties.
