Tilman Fertitta’s Billion Dollar Interest in Caesars Entertainment
Tilman Fertitta, famously known as the owner of the Houston Rockets and Landry’s Inc., has been named as one of the parties interested in buying Caesars Entertainment. The other dominant bidder in the potential deal is Eldorado Resorts. At this point the board of Caesars Entertainment has made no final decision, this despite other reports stating that the board is close to approving a proposition to put the multibillion-dollar company up for sale.
Billionaire, Tilman Fertitta, was allegedly invited by Caesars Entertainment recently to perform some due diligence on the company using the company’s financial records. Caesars is currently worth $5.6 billion on the Nasdaq stock market; however, the company is reportedly in debt of $18 billion. This would not be the first time Fertitta steps into the world of gambling, as he already successfully runs five Golden Nuggets Casinos. Carl Icahn, a billionaire investor, is among those pushing for the sale of Caesars Entertainment. According to reports, an announcement is looming from Caesars Entertainment in the coming days.
Tilman Fertitta’s Other Business Ventures
Tilman Fertitta has amassed a net worth of over $4 billion and several businesses under his belt. His line of casinos, Golden Nugget is doing well. At the EGR North America Awards that took place just recently, Golden Nugget Casino was given the Operator of the Year Award for the 2018/2019 year.
He also has Landry’s Inc. which is a Restaurant and Entertainment Company. Among the businesses under Landry’s are Bubba Gump Shrimp Co., and Landry’s Seafood House. Tilman was also the star of a reality show called, “Billion Dollar Buyer”, which ran for two years on CBNC. In this show, he chooses small American businesses which he either purchases or invests in and develops the businesses.
Tilman Fertitta has a good track record in the gambling industry as Golden Nugget continues to do well and grow. His ability to incorporate his businesses under one roof, with eateries under the Landry’s Inc. being available at all the Golden Nugget Casinos has maximized the probability of income exceptionally.