Fertitta Entertainment, Inc., the parent company of Golden Nugget and Landry’s, announced Monday it will become publicly listed.
According to a news release, owner Tilman Fertitta has entered a merger agreement with FAST Acquisition Corp. valued at approximately $6.6 billion.
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“I look forward to returning my company to the public marketplace. After taking the company private in 2010, we accomplished a lot. However, in today’s opportunistic world, I determined that in order to maximize the opportunities in the gaming, entertainment and hospitality sectors, it was preferable to take my company public,” Fertitta said.
Fertitta will be the company’s largest shareholder, owning 60% of the company and a roughly $2 billion stake.
“After I compared the opportunities provided by a transaction with FAST, versus the traditional IPO route, it became abundantly clear that we could access the capital markets with more certainty and speed if we did a deal with FAST,” Fertitta said. “At the end of the day, the decision to do a deal with FAST was a no-brainer.”
According to the news release, Golden Nugget and Landry’s management team will continue to lead the company and Fertitta will serve as chairman, president, and CEO.