Major news! Recently a rumor emerged and speculated that a merger between Caesars and Golden Nugget could soon take place. If so, this would change the landscape in Atlantic City in a significant way. According to sources, Golden Nugget’s owner, Tilman Fertitta reached out to Caesars about the possibility of a deal a couple of weeks ago. The details of the merger aren’t clear yet, but the news sure has the industry buzzing. So without further delay, let’s check out how this merger could be a game changer.
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Casino Merging Could Become A New Trend
If this deal comes together, it could be the latest in a series of casinos merging. Last week, Penn National Gaming of Pennsylvania acquired Pinnacle Ent. So, if this merger between Caesars & Golden Nugget takes place, we could likely start seeing this become a trend. David Schwartz, director of the Univ. of Nevada, LV Center of Gaming Research said, “Companies are trying to become more profitable. They’re doing this by acquiring more properties and cutting costs.”
Not to mention, this deal could actually be a win-win for both companies. For Fertitta, this deal would allow him to put his famous restaurant, Landry’s throughout all of Caesars properties. As for Caesars, well, they filed for chapter 11 last year. Since then they’ve been on a mission to expand. Their goal is to catch up with MGM and Wynn Resorts. This deal for Caesars could see their goals met.
As for Atlantic City, the deal could change the whole Boardwalk landscape. The competition will definitely be at an all-time high! Not to mention, it could spark a wave of mergers in the city. So as a result, this deal could be a game changer for some and an unfortunate situation for others. Unless it leads to more mergers, that is! On that note, stay tuned as this story is still developing. As soon as we get word of a confirmed deal, we will let you know!