Gambling in the USA

Caesars to say no to Golden Nugget merger proposal

Published

6 years ago

October 23, 2018

Niji Narayan

Stockholders of Eldorado Resorts and Caesars Entertainment Vote to Approve Eldorado’s Acquisition of Caesars

Photo Source: reviewjournal.com

Reading Time: < 1 minute

The board of directors of Caesars Entertainment is all set to reject an offer to take over Golden Nugget casino group. Tillman Fertitta, the owner of Golden Nugget owner, had made the proposal of a reverse merger, by which Caesars Entertainment would be able to hold the majority stakes in a joint venture.

None of the board members of Caesars is reportedly convinced by the deal.

One board member has reportedly termed the deal “certainly not attractive.” said it must be noted that Caesars still has a debt of $9bn and is emerging after bankruptcy a year back, while Fertitta’s net worth is estimated at $4.5bn.

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.