Mega M&A Deals: Fertitta-Caesars and Diller-MGM Reshape Vegas

Tilman Fertitta's $17.6B acquisition of Caesars closed go-shop period July 11; regulatory timeline mid-to-late 2027. Barry Diller's $48/share offer for MGM (owns 26%) under BFA Law investigation. MGM Q2 Strip revenue up 3% to $2.2B, driven by conventions. Implications: loyalty integration, property sales, comps shifts. New poker tax crisis (OBBA Act) threatens 2026 WSOP. Boyd Gaming eyes selective acquisitions. Pending casino deals and a turn to machine games — Golden Gate and Cadence Crossing going all-electronic, job losses and union concerns. Bally's financial strain deepens — 'substantial doubt' language, may sell Las Vegas Strip operating rights; south Strip development may shift to retail/entertainment only.