Caesars Entertainment Shareholders Approve Fertitta Takeover

Caesars Entertainment shareholders have given their overwhelming approval to a $17.6 billion takeover by Fertitta Entertainment. The vote, which took place on Tuesday, September 22, saw 93% of all votes backing the matter, and agreed to let Fertitta Entertainment buy out the company. The deal is yet to be finalized, with a date set for mid-2027, and a penalty applicable if the deadline is missed.

The move required approval of the majority of the 203,780,124 shares outstanding as of August 21, which was the record date ahead of the actual vote. At the vote, turnout totaled 70.3%, or 143,277,939 shares, with 93% of those, or 133,313,001 shares, voting in favor of the proposal, marking an important milestone as the company seeks to finalize the deal, subject to customary closing conditions.

Tilman Fertitta, the businessman behind the acquisition vehicle Fertitta Entertainment, has long sought majority control of the company. Caesars owns 50 casinos in 19 states, including hubs such as Reno, Las Vegas, Lake Tahoe, and Laughlin.