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Houlihan’s parent company to go public

The parent company of Leawood-headquartered Houlihan’s has made a deal to merge with New-York company Fast Acquisition to take Landry’s Inc. public. Landry's is the parent of the KC-based restaurant chain. The deal estimates an enterprise valuation of $6.6 billion.

Houlihan’s parent company owner, Houston billionaire Tilman Fertitta, has teamed up with another company to turn his privately-held restaurant and gaming empire public.

Image courtesy of Houlihan’s Restaurant + Bar

Fertitta Entertainment Inc., the parent company of Golden Nugget/Landry’s Inc. – which Houlihan’s falls under – will merge with Pound Ridge, New York-based Fast Acquisition Corp.

The deal implies an enterprise valuation of about $6.6 billion for Golden Nugget/Landry’s, the companies said in a Monday release.

Fertitta, sole owner of Fertitta Entertainment, will remain chairman, president and CEO of the combined company, as well as the largest shareholder, with an approximately 60 percent interest in the company.

The rest of the existing Golden Nugget/Landry’s management team will continue to lead the company.

Fertitta Entertainment is Fertitta’s holding company for substantially all of his assets, but the deal only includes the majority of the assets and businesses that comprise the Golden Nugget casino and resort business, the Landry’s restaurant and hospitality empire and all of Fertitta Entertainment’s approximately 31.35 million shares in Golden Nugget Online Gaming Inc.

Houlihan’s Restaurants Inc. was purchased out of bankruptcy by Landry’s Inc. in late 2019. The acquisition of the Leawood-based company included 34 restaurants spanning five brands.