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Houston billionaire Tilman Fertitta to take restaurant, gaming empire public FacebookTwitterEmail 1of8 Tilman Fertitta, owner of Landry s Inc. and the Houston Rockets, said Feb. 1 he would merge his Landry’s and Golden Nugget holdings with a ‘blank check’ company, valuing the business at $6.6 billion. Fertitta will maintain control, the Rockets and other assets are not part of the deal.Jon Shapley, Houston Chronicle / Staff photographerShow MoreShow Less 2of8 The Golden Nugget in Las Vegas. Tilman Fertitta, owner of the Golden Nugget casinos, Landry s Inc. and the Houston Rockets, said Feb. 1 he would merge his Landry’s and Golden Nugget holdings with a ‘blank check’ company, valuing the business at $6.6 billion. Fertitta will maintain control, the Rockets and other assets are not part of the deal.BEATRICE DE GEA / TPNShow MoreShow Less ....
SPAC founders had been looking for quick-service, small-dining-room brands Texas billionaire Tilman Fertitta is reportedly in talks to take his restaurant giant Landry’s Inc. and his Golden Nugget casino holdings public with Fast Acquisition Corp., though the special purpose acquisition had been looking for quick-service brands. Bloomberg, in a report last week citing “people with knowledge of the matter,”said Fast Acquisition, which was created last August as a special purpose acquisition company, or SPAC, was considering raising more than $1 billion to back a possible transaction. Fertitta’s representatives said he would have no comment on the rumors. Fast Acquisition Corp. was listed on the New York Stock Exchange last August and set a target to raise $200 million. It was created by Doug Jacob, co-founder of &Pizza and co-CEO of the new blank-check SPAC, with Sandy Beall, the founder of the Ruby Tuesday brand. ....
Share: Billionaire Tilman Fertitta is in talks to take another business unit public via a SPAC. What Happened: Fertitta is in talks to take his casino and dining assets public via SPAC Fast Acquisition Corp (NYSE: FST), according to a Thursday Bloomberg report. The deal, which could be announced next week, would value the assets at $7 billion including debt. Fertitta had weighed an IPO to bring the assets public as well. Sources say Fertitta would still maintain majority control of the company, Bloomberg reported. Fast Acquisition raised $200 million in its SPAC offering. The company is in talks to raise $1 billion in new equity to complete the deal. ....