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Caesars Entertainment agreed to a deal with Fertitta Entertainment Inc., owned by Tilman Fertitta, to sell the company for $17.6 billion. The deal would affect multiple gambling verticals in Pennsylvania that Caesars currently owns and operates.
The Pennsylvania Gaming Control Board explained the change-of-control process to PlayPennsylvania. Caesars operates across nearly every gambling vertical in Pennsylvania, including multiple Pennsylvania online casinos.
What the ownership change process looks like in PA
Not only does Caesars operate numerous iGaming skins, it also controls Harrah’s Philadelphia and Caesars Sportsbook. Those assets would ultimately come under Fertitta Entertainment’s control pending regulatory approval.
PGCB Communications Director Doug Harbach revealed to PlayPennsylvania that Caesars has not yet submitted a petition for change of control, which is required. Harbach could not specify a timeline, but he did note it could take “some time”:
“Remember that while approval by PA is important, there are multiple jurisdictions that need to go through their own processes related to the sale and the change in ownership of Caesars.”
Harbach also confirmed that Caesars is not operating under a deadline to submit its change-of-control petition.
Because Fertitta owns the Golden Nugget Online Casino, he already holds a principal iGaming license in Pennsylvania.
Fertitta has extensive gaming experience through Golden Nugget’s retail operations in Atlantic City and other jurisdictions.
How the deal impacts Caesars’ products
The key question now is whether the ownership change will result in any noticeable changes for Pennsylvania customers.
At first glance, it doesn’t appear all that much is changing on the structural side. Caesars announced that key members of the C-Suite are “expected to remain in their roles and continue to lead the Caesars Entertainment operations at the combined company.”
The press release also committed to continue its online and retail offerings:
“On a combined basis, guests will enjoy access to an expansive suite of diversified offerings – 60 casino resorts and gaming facilities, online gaming including sports betting, iCasino, and Poker through Caesars’ leading digital platform, retail sports betting at over 200 third-party locations through the William Hill brand, and over 600 Fertitta Entertainment outlets, including Landry’s full-service restaurants, plus multiple amusement, entertainment and aquarium venues.”
While the transaction does not appear likely to produce immediate changes for Pennsylvania customers, future branding decisions, product launches, and platform enhancements remain unknown until Fertitta Entertainment outlines its long-term plans for Caesars’ gaming portfolio.
