https://www.houstonchronicle.com/bu..._content=news_p&utm_campaign=HC_MorningReport Yes, this is different than the last report as he is now taking the entire operation public.
Very interesting because he spent years buying stock, including a difficult power struggle, to take Landry's private. This has to be in reaction to covid and definitely out of survival. He never wanted to do this but probably doesn't have a choice.
You may want to buy Landry's stock. Lol. In all seriousness, now that he is worth an extra $2B, can he go over the luxury tax this season just to prove he is rich even though it's likely not necessary since we aren't winning a championship.
listening to investor call now he's pitching aggressively buying and "attacking the opporunities out there" from the pandemic recession 31m shares of GNOG went with the merge ... half the outstanding stock
Relative to what he did with buying rockets and the les deal along with now this what is your overall opinion on this as far as rockets? Also heypartner dot com is no mas?
Am I the only one who thought this thread was about him or Patrick coming out the closet based on thread title? Anyways, Tillman must really be strapped for cash if he's doing this. No one is handing him a loan right now and he's probably out of options to stay afloat. I can't see his franchise restaurants doing well even after the pandemic. Golden Nugget might do well, but the rest of the portfolio i think will never recover
like I said, on the investor call today he was aggressively pitching to investors the buy/buy/buy state of this market. And his history of doing that, during recessions. I think buying the Rockets prevented him from having the cash ready to pounce on opportunities during a mad recession ... which is his style. So, if he wants to buy properties and scoop up brands in this down market, he had to go public. I'm going to default to his general nature to get all anxious to buy when great opportunities present themselves, which leads me to believe this has nothing to do with the Rockets, or a sign of desperation wrt Hotel/Casino business (which he backed up with financials on the call). He needs to get that Onling Gaming thing going though. small window to be a bigger player.
https://www.lmtonline.com/business/...-restaurant-gaming-empire-public-15913003.php Taking his companies public will give Fertitta the capital he needs to compete with other large, publicly-traded companies looking to buy up casinos and restaurants, he said. “We’re looking to do some substantial (mergers and acquisitions) in gaming,” Fertitta said. “We want to be aggressive in the M&A world.” Institutional shareholders also committed to invest around $1.2 billion in the form of a private investment in public equity at $10 per share of common stock in Fast before the transaction closes. The deal also includes some 31 million shares, or nearly half of all outstanding shares in Fertitta’s Golden Nugget Online Gaming. The merger is the start of a major shift for Fertitta, from a major restaurateur to a casino mogul, he said. While he said he’s still open to growing his restaurant and hotel businesses, he said he plans to pivot his businesses in the coming years toward gaming, particularly online gambling. “I’d rather own a casino that makes $50 million than 50 restaurants that each make $1 million,” he said. “In the years to come you’ll see us more as a gaming company.” Fertitta promised to flex his buying muscle in the months to come, as casinos and restaurants struggling during the pandemic shed assets. “I’ve grown my huge net worth by being an opportunistic buyer, and yes, there’s going to be opportunities out there I want to seize upon,” Fertitta said. Fertitta said he enjoys running his company, and despite waking up $2 billion richer, that “nothing is changing” with how he plans to operate. “I’ll be the CEO of this company for the next 20 years,” he said. “As long as I’m vertical.”
