Caesars to say no to Golden Nugget merger proposal

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.