• Loading stock data...
Sunday, October 12, 2025
One week until Asset Class at the NYSE Request to Attend

Fertitta Entertainment Calls Off $8.6B SPAC Merger

  • Houston Rockets owner Tilman Fertitta will not be taking his company public through a merger with FAST Acquisition Corp.
  • The SPAC will continue looking for a deal partner.
Troy Taormina-USA TODAY Sports/Design: Alex Brooks

Houston Rockets owner Tilman Fertitta and the SPAC that was to take his company public have decided to call off the merger.

Fertitta Entertainment had agreed to go public by merging with FAST Acquisition Corp. in a deal valuing the combined company at $8.6 billion. The company owns Golden Nugget Gaming and restaurant chain operator Landry’s.

The deal had an unusual number of twists and turns for a SPAC merger.

  • The two sides initially linked up in February on a deal that valued the combined company at $6.6 billion.
  • It was expanded in June to include additional hospitality and entertainment companies, adding $2 billion to the company’s valuation.
  • Earlier this month, Fertitta Entertainment sought to terminate the deal because it had not been completed by its Dec. 1 deadline. 
  • FAST sought to force the deal to go through, saying the delay was because Fertitta Entertainment had failed to produce required documents.

FAST Still Looking to Deal

Fertitta Entertainment will pay up to $33 million to extract itself from the deal. Part of that sum is contingent on whether FAST goes on to merge with another company.

FAST raised $200 million in an IPO in August 2020.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

As NBA Salary Cap Rises, Role Players Are Getting $100M+ Deals

The salary cap has increased by 10% in three of four seasons.
Apr 26, 2025; San Francisco, California, USA; Houston Rockets guard Fred VanVleet (5) before game three of first round for the 2024 NBA Playoffs against the Golden State Warriors at Chase Center.

Rockets Get $20 Million in Wiggle Room From New VanVleet Deal

VanVleet first signed with the Rockets in 2023.

Kevin Durant Traded to Houston in Blockbuster Deal

Houston was one of Durant’s preferred destinations.

Featured Today

Las Vegas Aces center A'ja Wilson (22) celebrates with her teammates after her last second shot to take the lead 90-88 against the Phoenix Mercury in Game 3 of the WNBA Finals at Mortgage Matchup Center in Phoenix on Oct. 8, 2025.
exclusive

Standoff Over WNBA’s Future Has Dominated Finals

CBA negotiations have stolen the spotlight from the Aces’ dominant performance.
Paul Cartier
October 5, 2025

Sports Organists Are Still Thriving in the Era of Raucous Arena Music

“When they walk out and they see a real organ guy, it’s like, ‘Wow.’”
Sep 27, 2025; Milwaukee, Wisconsin, USA; Milwaukee Brewers center fielder Jackson Chourio (11) rounds the bases after hitting a home run during the sixth inning against the Cincinnati Reds at American Family Field.
October 4, 2025

Milwaukee Moneyball: Brewers Are Beating MLB’s Deeper Pockets

Milwaukee is holding its own against big-budget competitors.
Kōloa Rum Company Rum Rusher
September 27, 2025

Panthers Bubbly, Jets Wine, Manning Whiskey: The Sports Booze Boom

A sommelier dives into the sports booze trend—and tries Jets wine.
Louisville’s Miller Moss and several of his teammates stopped by Olympus Gaming Lounge to play EA Sports College Football 26 with fans for a meet and greet. July 11, 2025

Saudis, Silver Lake, Jared Kushner Take EA Private in $55B Deal

Electronic Arts makes “Madden,” “EA Sports College Football,” and more.
June 24, 2025

Timberwolves’ 4-Year Ownership Saga Ends As A-Rod, Lore Take Over

The unanimous approval brought a clean end to a long-disputed transaction.
July 6, 2025

American Celebs Want to Be Sports Owners. Soccer Is Where They Start

As U.S. team prices climb, investors set their sights abroad.
Sponsored

How Jenny Just Is Shaping the Future of Sports Ownership

Jenny Just on bringing her investment experience to sports ownership.
April 20, 2025

Max Verstappen Linked to $300M Aston Martin Deal Ahead of Miami GP

Aston Martin is currently seventh in the constructors championship.
March 27, 2025

Peyton Manning’s Omaha Productions Gets PE Boost

The Hall of Famer’s company gains another prominent backer.
March 20, 2025

High School Sports Power Signs Eight-Figure Rights Deal in First

The deal pays roughly $1 million annually, FOS has learned.
March 20, 2025

Maxx Crosby’s Agent: Edge Rushers Set to Dominate NFL’s Non-QB Market

Maxx Crosby just signed a three-year, $106.5 million extension.