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[Yahoo! Finance] : Texas Billionaire Who Levered Restaurant Empire Hit on All Sides

Discussion in 'Houston Rockets: Game Action & Roster Moves' started by Dr of Dunk, Mar 25, 2020.

  1. s3ts

    s3ts Member

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    all this talk about loving Houston.... SMH.

    not seeing very many people loyal to the city. proud to be in Houston, but ignorant as hell.

    really hope the city turns this thing around and come back strong.
     
    D-rock and CK Johnson like this.
  2. AroundTheWorld

    AroundTheWorld ಠ_ರೃ
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    "Shut up and listen" - he thought he was on top of the world. Mural and all that.
     
  3. Ziggy

    Ziggy Tastemaker
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    That boy Les took Fertita to SCHOOL. Fertita needs to shut up and listen and take notes from the REAL entrepreneur.
     
  4. rockbox

    rockbox Contributing Member

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    From my understanding, he really can't lose the rockets unless he wants to sell it to bail out his other business. You can buy an NBA team on credit. What he did was sell bonds against his casinos to buy the rockets, so the worst thing that he can have happen is lose his casinos. Now if he decides to sell the rockets to keep the casinos since they actually make money when there isn't a crisis, that is his decision.
     
  5. Nook

    Nook Member

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    I feel ZERO empathy for him. None.

    He treats people he does business with as disposable.

    He treats his employees like commodities and not people.

    He is the type of person that is what is wrong with the world.

    There is so much money out there at the super rich level that he has no problem getting financing, borrowing well beyond his worth... all built on a house of cards.

    He has a massive yacht, he makes no personal sacrifices while he tries to not let his poor employees use their paid vacation time.

    Now this worthless human being is pushing for the country to open up when it isn’t safe to so he can keep all this crap he doesn’t need and doesn’t even really own. **** him.

    If this keeps up, and the virus remains a risk... a nice side effect will be seeing this ignorant, immoral idiot lose much of his wealth.

    I don’t want a CCP puppet owning the Rockets but I’ll take anyone else short of that over Fertitta. The world is changing and his “greed is good” mantra doesn’t work like it did before.
     
  6. apollo33

    apollo33 Member

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    Leslie conned Fern Titts
     
  7. Mango

    Mango Contributing Member

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    https://www.seattletimes.com/sports/sacramento-fans-sour-on-once-revered-owners-of-kings/



    https://bleacherreport.com/articles...-to-the-maloof-family-from-a-bitter-kings-fan



    If he really had to finesse his financial numbers to make it possible to buy the Rockets, then he could be looking at a serious squeeze in the near future because I am expecting a gradual recovery for his hospitality empire rather than a quick bounce to boom times.


    Who are the top local candidates to buy the Rockets if he decides to sell so that he can save his hospitality empire?
     
  8. snowconeman22

    snowconeman22 Member

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    Tilman’s economic prospects may be down but his love of talking and expecting people to give a **** is ever growing.
     
  9. jayland

    jayland Member

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    Time to start a gofundme page for Tilman?
     
  10. donkeypunch

    donkeypunch Contributing Member

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    [​IMG]

    Ive got a shiny cardboard nickel for him.
     
  11. Icehouse

    Icehouse Contributing Member

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    Hmm, so he claims someone offered him 1B for 50% of the team and he said no.
     
  12. jim1961

    jim1961 Member

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    Too bad he hadn't invested in toilet paper companies, he would be raking it in if he had :rolleyes:
     
  13. TilmanFinancialWindfall

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    ROFL

    SHUT UP AND LISTEN
     
    D-rock likes this.
  14. J.R.

    J.R. Contributing Member

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    https://www.houstonchronicle.com/bu...impacts-strain-Fertitta-s-gaming-15157329.php

    According to Bloomberg, the closures resulting from the pandemic have cost Fertitta about a third of his net worth, now at $3.2 billion, and has placed nearly $5 billion of debt at high risk. Bloomberg first reported the 40,000 temporary layoffs.

    Credit-rating agency Moody’s Investors Service downgraded Golden Nugget, Fertitta’s restaurant and casino company, to B3 this week, and the company’s bonds are trading at discounts, Bloomberg reported.

    Matt Sodl, president and managing director of Southern California investment bank Innovation Capital, which represents gaming and retail clients, said he expected Fertitta to make it through this crisis.

    “He’s got institutional investor support in both the debt and equity markets,” Sodl said in a recent interview. “I’m a believer he’ll come out of it and be on the hunt looking for opportunities because there’s going to be many of them.”
     
    D-rock likes this.
  15. Easy

    Easy Very Calm
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    Those are my questions too.
     
  16. OmegaSupreme

    OmegaSupreme Contributing Member

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    [​IMG]
     
  17. hakeem94

    hakeem94 Member

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    ROCKETS HATERS... rockets haters everywhere
     
    Exiled likes this.
  18. cur.ve

    cur.ve Contributing Member

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    Screw this guy. There is no economy if this gets worse. Pushing people to go to restaurants so his greedy ass doesn't go broke when we don't have a handle on this and cases keep on growing is the ultimate evil.
     
  19. Caprah

    Caprah Member

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    Well the team Tillman before you go broke
     
  20. Caprah

    Caprah Member

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    You don’t know what you got till it’s gone
     
    Richie_Rich and Rocket River like this.
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