That's quite a step for Fertitta Entertainment to take, and Caesars will soon be a private company again (unless a competing bid comes in by July 11).

The $6 billion (actually $5.7 billion) is the net equity value. The asset value of Caesars is $17.6 billion, but with nearly $12 billion of debt coming to Fertitta as well (as reported in the story).

When the dust settles, Fertitta will be one of the mega-brand parent casino companies, along with MGM, Las Vegas Sands, Wynn and a few other global brands. The number of property names & locations will be huge.

This feels like another wave of consolidation may follow, at least at the margin. Though maybe it's just a one-off. We'll see.