Billionaire Fertitta Buys Caesars, Adds Another Trophy Property

Tilman Fertitta, a self-made billionaire who has built an empire on gumption and debt, is on the verge of his biggest deal yet.

The 68-year-old entrepreneur agreed on Thursday to buy the legendary Caesars Entertainment Inc. for $5.7 billion, excluding debt, that will merge his casino and restaurant business with the iconic Las Vegas company after nearly a decade-long quest.

Tilman Fertitta

Photographer: Kayla Bartkowski/Getty Images

With Caesars, Fertitta will add more than 50 resorts to a portfolio that already counts some 600 properties in 36 states and more than 15 countries, including the Golden Nugget casino chain, casual dining brands such ...