Deals
Houston Billionaire Tilman Fertitta Buys Caesars Stock
- Real estate mogul proposed combination with Caesars last year
- Fertitta is said to still be interested in possible merger
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Tilman Fertitta, the Houston real estate mogul who last year proposed merging his casino and restaurant empire with Caesars Entertainment Corp., has become an investor in the Las Vegas company, according to a person familiar with the situation.
Fertitta bought about 4 million Caesars shares, less than 1 percent of the total, because he thinks the company is undervalued, according to the person, who asked not to be identified because he wasn’t authorized to speak publicly. Fertitta remains interested in a possible combination with Caesars, but he hasn’t proposed one again.