1. Home
  2. Hobbies & Games
  3. Casino Gambling
photo of Bill Burton

Bill's Casino Gambling Blog

By Bill Burton, About.com Guide to Casino Gambling since 1998

Landry's Buying Golden Nugget Casino

Tuesday February 8, 2005
Landry's Restaurants Inc., whose operations include Rainforest Cafe and The Crab House, is buying the Golden Nugget hotel-casino in downtown Las Vegas, a first step in a strategy to get a slice of the lucrative gambling business and expand its profit pipeline. Landry's shares surged more than 8 percent on the news. Houston-based Landry's announced Friday it struck a deal with Poster Financial Group Inc., owners of the Golden Nugget, under which it would pay $140 million in cash and assume $155 million in debt for the Golden Nugget. The Golden Nugget Las Vegas is considered the jewel of a faded downtown with 1,907 hotel rooms and 2,800 employees. Built in 1946, it's the largest of the 14 hotel-casinos in the downtown area. Landry's owns and operates more than 300 restaurants, and the brands also include Landry's Seafood House, Joe's Crab Shack, Willie G's Seafood & Steakhouse and The Chart House.

Comments

No comments yet. Leave a Comment

Leave a Comment

Line and paragraph breaks are automatic. Some HTML allowed: <a href="" title="">, <b>, <i>, <strike>

Explore Casino Gambling

More from About.com

  1. Home
  2. Hobbies & Games
  3. Casino Gambling

©2008 About.com, a part of The New York Times Company.

All rights reserved.