Golden Nugget owner approaches Caesars over merger
Golden Nugget owner Tilman Fertitta has approached Caesars Entertainment over the possibility of a merger, according to a Reuters report.
Fertitta is said to be considering a reverse merger, meaning Caesars would be the acquiring party and retain all of its current shareholders, which include Apollo Global Management LLC and TPG Global.
The report says it is “unclear” whether there is interest from Caesars, valued at $6.3bn, in accepting the offer, with Fertitta's net worth valued at $4.5bn.
The exact details of the proposed merger are also not specified. Fertitta owns restaurant and entertainment company Landry's, which is listed as the company that owns Golden Nugget.
Gambling Insider has contacted both Golden Nugget and Caesars for comment.