Caesars Extends Talks for $18 Billion Takeover by Fertitta (1)

Caesars Entertainment Inc. has extended a period of exclusive talks about an $18 billion takeover by Tilman Fertitta as new details about the deal emerge.

Fertitta, the owner of the Golden Nugget casino chain, has been in talks to purchase Caesars for about $32 a share, according to people familiar with the discussions. There’s no certainty that a deal will be reached, but the parties are close.

Fertitta’s plan is to combine his Landry’s restaurants and Golden Nugget properties with Caesars, creating an even larger casino giant. The financing would include $2 billion to $3 billion in equity and $4 ...