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Mr. Tilman's new Super Yacht has been completed

Discussion in 'Houston Rockets: Game Action & Roster Moves' started by KingCheetah, Jan 13, 2021.

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  1. D-rock

    D-rock Member

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    He'd rather sell his players instead.
     
    Sweet Lou 4 2 likes this.
  2. Amel

    Amel Contributing Member

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    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
     
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  3. KingCheetah

    KingCheetah Contributing Member

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    My cousin gets all his payday title loans from Fast Acquisition Corp.
     
  4. Htown Stros

    Htown Stros Member

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    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.
     
  5. Nook

    Nook Member

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    Just stop while you are way behind.
     
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  6. Htown Stros

    Htown Stros Member

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    #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/
     
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  7. Htown Stros

    Htown Stros Member

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    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.
     
  8. KingCheetah

    KingCheetah Contributing Member

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    Or maybe we're just proud of Mr. Tilman for having the wherewithal to purchase a Mediterranean mega yacht.
     
  9. Nook

    Nook Member

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    #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).
     
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