Fertitta Is Paying $31 Per Share for Caesars. The Real Price Is $17.6 Billion in Conviction.
Fertitta Entertainment's all-cash acquisition of Caesars implies a 49% premium and absorbs $11.9 billion in existing debt. The per-key math across 50-plus resorts reveals what Tilman Fertitta actually believes about private ownership, cost discipline, and the future of gaming loyalty.