Tilman Fertitta, founder and CEO of Landry’s Restaurants, has arranged financing to take the Houston-based restaurant, hospitality and casino operator private. Jefferies & Co. and Wells Fargo Foothill are backing his $1.3 billion offer, which includes assuming debt of $885 million. It amounts to $21 for each of Landry’s shares, 39 percent of which Fertitta owns. A “go-shop” clause in the financing agreement allows Landry’s to seek other acquisition offers for 45 days.

By GGB Staff

Staff writers for Global Gaming Business magazine. Las Vegas, Nevada.

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