Tilman Fertitta, the Houston billionaire who built a hospitality and entertainment empire from a single seafood restaurant in Katy, will take his Landry’s Inc. and Golden Nugget casino operations public by merging them with a special purpose acquisition company. The transaction values the businesses at $6.6 billion.
The deal, announced Monday morning, will give Fertitta a 60 percent stake in the resulting business, which will likely be called Golden Nugget Entertainment and be traded on the New York Stock Exchange. Fertitta will be the company’s chairman, president and chief executive, as well as its largest shareholder. The merger includes Landry’s more than 500 restaurants, including brands such as The Palm, Del Frisco’s and Rainforest Cafe; and five Golden Nugget casinos.