Caesars Accepts $5.7 Billion Takeover by Tilman Fertitta

Caesars Entertainment has accepted an offer for a $5.7 billion takeover by billionaire Tilman Fertitta, the owner of the Golden Nugget casino chain.

Fertitta Entertainment offered to buy the casino and resort operator for $31 a share in an all-cash offer, the companies said Thursday. That’s about 49% above the price when media reports first appeared of a possible takeover and 7% above the previous night’s closing price of Caesars shares.

Caesars has until July 11 to consider other offers, or el