Tilman Fertitta, buyer of the Golden Nugget Casinos and the Landry’s Inc. restaurant-entertainment portfolio, has approached bank abettor Caesars Entertainment Corp. about a alliance of the two gaming companies, according to Reuters.
Fertitta, who additionally owns the National Basketball Association’s Houston Rockets, was not anon accessible for comment, his Houston appointment said. But Reuters cited bearding sources who said the billionaire broker was gluttonous a about-face alliance in which Caesars would access Golden Nugget.
Sources told the Houston Chronicle that the proposed accord would accomplish Fertitta administrator and CEO of Caesars, which operates 55 bank and auberge properties, including Caesars Palace, Harrah’s, Flamingo and Planet Hollywood Resort & Casino.
Caesars shareholders, including private-equity firms Apollo Global Management LLC and TPG Global, would abide shareholders in the accumulated company, the sources told Reuters.
At midday Thursday, Caesars Entertainment shares were trading up about 1 percent, to about $10.30, afterwards accretion 12.2 percent on Thursday.
Caesars has explored added acquisitions since emerging from defalcation in October 2017.
One appear accretion ambition was Detroit-based Jack Entertainment LLC, which architect Dan Gilbert, who created online mortgage lender Quick Loans Inc., was gluttonous to sell, according to Bloomberg.
Landry’s Inc. operates added than 500 dining locations beneath such brands as Bubba Gump Shrimp Co., Chart House, Claim Jumper, Grotto, Landry’s Seafood, Mastro’s Restaurants, McCormick & Schmick’s Seafood, Mitchell’s Fish Market, Morton’s The Steakhouse, The Oceanaire, Rainforest Café, Saltgrass Steak House, Vic & Anthony’s and Willie G’s. The aggregation additionally owns the BR Guest Restaurants, acquired in 2016, including Dos Caminos, Strip House and Bill’s Bar & Burger.
The company’s gaming analysis includes Golden Nugget Auberge and Casinos in Las Vegas and Laughlin, Nev.; Atlantic City, N.J.; Biloxi, Miss.; and Lake Charles, La.
Contact Ron Ruggless at [email protected]
Follow him on Twitter: @RonRuggless
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