https://www.bloomberg.com/news/arti...rce=twitter&cmpid=socialflow-twitter-business Texas billionaire and Houston Rockets owner Tilman Fertitta is in talks to take his casino and restaurant empire public through a merger with blank-check firm Fast Acquisition Corp., according to people with knowledge of the matter. The special purpose acquisition company is in talks to raise more than $1 billion in new equity to support a transaction, said the people, who asked to not be identified because the matter isn’t public. The deal could value the combined entity at up to $7 billion including debt, one of the people added. The new company, which Fertitta would still control, is set to include casinos and restaurants under the Golden Nugget and Landry’s umbrellas, they said. If talks are successful, a deal could be announced n the coming weeks. Terms may change and discussions could still fall apart. Representatives for Golden Nugget and Fast Acquisition declined to comment. Shares in Fast Acquisition rose as high as 19% on the news and were trading at 5.6% at $11.05 at 3:48 p.m. in New York. Fertitta has been mulling options including a potential initial public offering of part of the unit, Bloomberg News reported in December. The 63-year-old, with a net worth of around $6 billion, according to the Bloomberg Billionaires Index, is no stranger to SPACs. In addition to the Golden Nugget casinos, the company operates hundreds of restaurants under the Landry’s umbrella, including Del Frisco’s steakhouse, Morton’s The Steakhouse, McCormick & Schmick’s and Bubba Gump Shrimp Co.. In December, Golden Nugget Online Gaming Inc., an online gaming and digital sports entertainment company led by Fertitta, closed its merger with Landcadia Holdings II Inc., a vehicle co-sponsored by Fertitta Entertainment Inc. and Jefferies Financial Group Inc. An earlier vehicle, Landcadia Holdings Inc., in 2018 merged with app-based restaurant platform Waitr Holdings Inc. A third vehicle, Landcadia Holdings III Inc., raised $500 million last year to pursue a transaction. Fast Acquisition raised $200 million last year and said it would focus on a target in the North American restaurant, hospitality and related sectors. Fertitta first took his restaurant business public in 1993, operating it that way until 2010 when he took the company private in a $1.4 billion leveraged buyout. By then Fertitta was already expanding into casinos with the acquisition of the Golden Nugget brand. In 2017, he agreed to buy the Houston Rockets for $2.2 billion, a deal that added more debt to his empire. — With assistance by Christopher Palmeri
So he's like every other billionaire on this planet? This much I can promise you...becoming a billionaire by being a "good person" is literally impossible unless you were born into it. Mark Zuckerberg acts like he's the holiest one and yet he literally tricked his best friend into signing a contract essentially taking over all ownership... And literally EVERYTHING you just said could be applied to James Harden and the rest of the supermax players in the NBA. They cry about the injustice, blow a million at a strip club in one night, complain their $300M deals aren't $500M, and best yet...quit on their teammates. Demarcus Cousins was right and I can't believe I'm saying that.
#6 He is fake and is one of those millionaires just as greedy as the rest. https://www.outkick.com/lebron-jame...ty-of-his-school-or-his-college-scholarships/
Y'all are the ones crying about a billionaire buying a yacht... We got no where with Harden and until Tillman bought the team HE was running the show. Everyone here who suggested Tillman forced Morey to do that Westbrook trade need to reevaluate their opinion because it's wrong. Harden is the reason we took that stupid deal and it's clear Morey has just been doing whatever he wanted to keep him here to begin with. It's a joke of a way to run a business and literally it doesn't matter which billionaire bought the team...they wouldn't have let this continue. And the last time a Houston team sold off all their players and rebuilt I remember seeing the EXACT same type of posts about Crane being too broke, etc. to own the team and now look at them...winning ships with a $200M payroll. So I'll make the point I was trying to make but since you want to be an ass I'll be more direct: you and the others on this board that are on here posting as much as you and complaining about how a billionaire operates his business are comical. I'm sure that's what Tillman does...just sits around and complains about other people's actions on a message board all day and the money just comes flying in. It's amazing you and others can't see A) outside of the Harden deal that fell in his lap, Morey has been a below average GM B) letting Harden run this team cost us a bunch of firsts to trade a great player for another selfish loser. It's going to be comical to see the Nets team implode.
Or maybe we're just proud of Mr. Tilman for having the wherewithal to purchase a Mediterranean mega yacht.
#1 Fertitta is leveraged out his ass, with loans that have near credit card rates. He couldn’t borrow any more so he floated selling shares, there was very little interest so he backed off that and now is coming up with this “plan” with Asset Assoc. to raise more money to keep all his assets from being seized. His debts are enormous and not at favorable rates. #2 Fertitta has said and done numerous ignorant things. He complained about not being able to take a government handout because the public would judge him. This coming from a man that furloughed all his workers while WE paid for them to survive. He refused to honor earned paid time off. He then complained about his businesses being hit by COVID... all while he had 150 million yacht being built. #3 Harden didn’t run the team before Tilman. The organization wasn’t perfect under Les but at least it wasn’t toxic. All the best and brightest got the hell out of the Rockets organization because Tilman is TOXIC. #4 Tilman several times said he is the one that wanted the Tilman trade and made it happen even when the basketball people said it was a bad idea. #5 When Crane bought the Astros they were terrible. Tilman bought a Rockets team that made the WCF and was an injury to Chris Paul away from a title... All Tilman did past that point is DESTROY the team and lead it to mediocrity. 6 You seem big on alternative facts. You are entitled to your opinion and can love Tilman (someone has to).
First look: Tilman Fertitta shows off new $150 million mega-yacht at San Luis Salute in Galveston At first glance, Tilman Fertitta's new mega-yacht, "Boardwalk," doesn't look all that different from his old one, also named "Boardwalk." His new-and-improved model was on display Friday night in Galveston during the Fertitta family's annual Mardi Gras bash, the San Luis Salute. It's tradition for the black-tie gala's VIPs to kick off festivities on the water. This year, that meant getting a close up with the latest "Boardwalk," a 252-foot motor yacht designed by De Voogt Naval Architects that comes with an estimated $150 million price tag. The previous "Boardwalk" measured 153 feet long. The two vessels' exteriors share some similarities, though their interiors are as different as night and day. Fertitta reportedly commissioned his latest model in 2016. It boasts seven staterooms, a swimming pool and a helipad. You know, to skirt traffic. Gone is the dark wood paneling of "Boardwalk" past. The latest and greatest is light, bright and as modern as they come. The tri-level vessel boasts an elevator and wine room. There are crystal chandeliers and a 16-seat dining table. Chrome accents and a contemporary art collection shine around every corner. Oh, and a seemingly endless amount of flat-screen televisions. On Friday they streamed the Rockets game against the Orlando Magic. Fertitta, best known as chairman, CEO and owner of Landry's Inc., also owns Houston's NBA team. The Bayou City's boys in red may have lost to Orlando's magic, though guests of the San Luis Salute's VIP pre-party won the luxury liner lottery. Former Houston Police Chief Art Acevedo and Lt. Gov. Dan Patrick were among those onboard.
That yacht will have a more successful NBA career, than anything else he owns. Including the Houston Rockets.
Is this going to be added to a Toyota Center mural? I like to be reminded that a fast food dude's children are wearing tuxes on a yacht while I watch my favorite sports team lose 10 games in a row.
What a chode. Love the ****ing medals they put on to walk onto their yacht. Once I hit my first billion, its nothing but sweatpants and tshirts.
