Fertitta's Caesars Buyout Approved: MGM Eyes People, Inc. Acquisition

Tilman Fertitta's acquisition of Caesars Entertainment has been approved by shareholders, while MGM Resorts International is reportedly considering a reverse buyout of People, Inc. Additionally, Betfred ends support for the Super League, and Missouri targets prediction market platforms.

Fertitta's Acquisition of Caesars

Fertitta Entertainment has received approval from Caesars Entertainment’s shareholders to purchase the company and take it private. 93% of all shares represented at a vote on Tuesday, September 22, backed the deal. Tilman Fertitta's acquisition vehicle has long coveted the acquisition of Caesars, expanding on his gaming and hospitality empire, which already includes Golden Nugget. Fertitta owns a 12.3% stake in Wynn Resorts. Despite the approval by the Board, Fertitta Entertainment would still have to wait for final closing conditions and regulatory approvals. In the meantime, Caesars Entertainment has set an obligatory closing date by mid-2027, after which a daily penalty will apply.

MGM and People, Inc.

MGM Resorts International and Barry Diller’s People, Inc. have not been able to come to an agreement over the potential acquisition of the former company. People, Inc. withdrew the bid on Tuesday and retains its 27% stake in the company. A report by the Wall Street Journal suggests that MGM Resorts International is now trying to secure People, Inc. and buy out the company.