clock menu more-arrow no yes

Filed under:

Billionaire Tilman Fertitta Takes Landry’s, Golden Nugget Public

The deal values the new company at $6.6 billion

The busy western corner entrance and bright signage of the Golden Nugget Las Vegas resort on downtown’s Fremont Street.
Golden Nugget
Golden Nugget Las Vegas/Facebook

Billionaire, businessman, and television personality Tilman Fertitta merged his company Landry’s, the Houston-based restaurant group, along with Golden Nugget casinos with Fast Acquisition in order to take the companies public.

Bloomberg reports that Fidelity Investments, BlackRock Inc., and Neuberger Berman are among the investors who agreed to fund the business for $1.2 billion for a 35 percent share of the company. Fertitta, who also owns the Houston Rockets NBA team, will become the chairman and CEO of the company and own around 60 percent of shares, valued at $2 billion. In total, the deal is worth $6.6 billion.

Landry’s operates Del Frisco’s Double Eagle Steakhouse, Morton’s The Steakhouse, Chart House, Mastro’s Ocean Club, Bubba Gump Shrimp Co., Rainforest Cafe, and Saltgrass Steak House, among others, with locations across Las Vegas. In total, Landry’s operates nearly 600 restaurants nationwide. Fertitta bought Landry’s in 1986 when the company owned two seafood restaurants. Fertitta took his Golden Nugget Online Gaming Inc. public last year.

During the pandemic, Fertitta furloughed 40,000 employees, or 70 percent of his company’s workforce.

From 1993 to 2010, Landry’s operated as a public company, and then Fertitta took it private because he didn’t think the public market valued it highly enough.

Fertitta Takes Landry’s Public Again at $6.6 Billion Value [Bloomberg]

All AM Intel [ELV]

Golden Nugget

129 Fremont St, Las Vegas, NV 89101

Morton's The Steakhouse

74-880 Country Club Drive, , CA 92260 (760) 340-6865 Visit Website

Chart House Restaurant

129 E Fremont Street, Las Vegas, NV 89101 702-386-8364 Visit Website

Bubba Gump Shrimp Co.

1501 Broadway, Manhattan, NY 10036 (212) 391-7100 Visit Website

Saltgrass Steak House

129 Fremont Street, , NV 89101 (702) 474-2588 Visit Website

Rainforest Cafe

3717 South Las Vegas Boulevard, , NV 89109 (702) 891-8580 Visit Website

Del Frisco's Double Eagle Steak House

3925 Paradise Road, , NV 89169 (702) 796-0063 Visit Website

Sign up for the newsletter Sign up for the Eater Las Vegas newsletter

The freshest news from the local food world