Freshfields Advises the Carano Family in Fertitta Entertainment’s Acquisition of Caesars Entertainment

Freshfields is advising the Carano Family, shareholders of Caesars Entertainment, and members of Caesars management in Fertitta Entertainment’s acquisition of Caesars Entertainment in an all-cash transaction valued at approximately $17.6 billion, including the assumption of approximately $11.9 billion of Caesars’ outstanding debt. Under the terms of the agreement, Caesars shareholders will receive $31.00 in cash for each outstanding Caesars share.  The Carano family, which owns approximately 5% of the outstanding shares of Caesars Entertainment common stock, has agreed to roll a portion of their equity interests into Fertitta Entertainment. Learn more about this transaction here.

The Freshfields team is led by partners Damien Zoubek and Claire James and senior associate Philip Turpin and includes associate Hannah Krutiansky. Partner Joe Soltis advised on tax matters; partner Lori Goodman advised on employee compensation and benefits matters; partner Jacqueline Marino advised on capital markets matters and partner Kyle Lakin advised on finance matters.