Tilman Fertitta’s Years-Long Pursuit of Caesars Is Paying Off

Real estate mogul Tilman Fertitta’s years-long quest to buy Caesars Entertainment Inc.is finally paying off: His firm struck a $5.7 billion, all-cash deal for the Las Vegas company on Thursday that will add some 52 casinos in the US to his entertainment empire.

Fertitta’s pursuit of Caesars dates as far back as 2018, when the owner of the Golden Nugget casinos approached the company about a possible merger. Fertitta had borrowed heavily to buy the Houston Rockets basketball team for $2.2 billion, and the potential deal was seen at the time as a means of folding his ...