• Loading stock data...
Wednesday, July 17, 2024
Join us this September for Tuned In Request to Attend

Rockets Owner Boxes Out Space on Las Vegas Strip

Tilman-Fertitta-Houston-Rockets
Troy Taormina-USA TODAY Sports

Houston Rockets owner Tilman Fertitta is expanding his business empire — and going up against casino giants like Caesars Entertainment and MGM Resorts International.

Fertitta is purchasing land on the Las Vegas Strip with plans to build a high-end casino.

  • Fertitta will pay $200 million for a six-acre site situated between the MGM Grand and Caesars’ Planet Hollywood.
  • The deal is not yet final, but Fertitta reportedly expects to close the transaction before the end of the summer.
  • The site currently holds a Travelodge motel, as well as retail and restaurant locations.

The restaurant and casino mogul’s Fertitta Entertainment sold Golden Nugget Online Gaming to DraftKings in a $1.6 billion all-stock deal last August, but retained ownership of Golden Nugget. Fertitta Entertainment also owns restaurant chain Landry’s.

Not So FAST

Last year, Fertitta Entertainment agreed to merge with a SPAC, FAST Acquisition Corp., in a deal valuing the combined company at $8.6 billion.

In December, the two sides called off the deal following a dispute in which Fertitta sought to back out. FAST challenged that move, saying that Fertitta Entertainment was legally compelled to proceed.

Fertitta Entertainment will pay up to $33 million to extract itself from the arrangement, partly contingent on whether FAST goes on to merge with another company.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Manfred ‘Comfortable’ With A’s Move to Vegas Despite Funding Hurdles

Rob Manfred continues to back A’s owner John Fisher, even as concerns grow in Las Vegas and Sacramento.
The Mississippi Department of Human Services on Monday sued retired NFL quarterback Brett Favre along with several other people and businesses to try to recover millions of misspent welfare dollars that were intended to help some of the poorest people in the U.S.

Judge in Mississippi Welfare Case Boots Brett Favre’s Lead Lawyer

The judge wrote he had a ‘pattern and practice of delicate deception.’

Las Vegas Isn’t Becoming an NBA Destination. It Already Is One

Expansion and the in-season tournament are also drawing the NBA to the city.

Big 12’s New Era Kicks Off: Expansion, Private Equity, and Global Ambitions

The new 16-team conference is holding media days in Las Vegas.
podcast thumbnail mobile
Front Office Sports Today

A First Hand Report of the Copa America Chaos

0:00

Featured Today

Jan 7, 2024; Nashville, Tennessee, USA; Jacksonville Jaguars wide receiver Calvin Ridley (0) reacts after scoring a touchdown against the Tennessee Titans during the first half at Nissan Stadium.
July 14, 2024

Without Hard-Line Bans, Pro Athletes and Personnel Will Keep Betting on Sports

Penalties often aren’t stringent or consistent enough to deter banned behavior.
Oct 2, 2021; Miami Gardens, FL, USA; NFL commissioner Roger Goddell speaks during the Don Shula Celebration of Life at Hard Rock Stadium.
July 13, 2024

The NFL Is Confident It Can Overturn the Sunday Ticket Verdict

The league may have good reason to believe it can win.
July 8, 2024

NFLPA Report Cards Have Become the ‘Talk of the Locker Room’ Across..

NFLPA report cards have become the ‘talk of the locker room.’

Angels and Anaheim Reach $2.75 Million Stadium Settlement

Two years ago, an FBI investigation derailed a stadium agreement.
July 10, 2024

Salt Lake City Takes Key Step to Handing NBA, NHL Owner Ryan Smith $900 Million

An agreement between Smith and the city was approved Tuesday night.
July 12, 2024

Oakland Minor League Baseball Team Experimenting With Fan Ownership

The Ballers say more than 1,000 people have registered interest.
Sponsored

TopSpin 2K25 Brings the Legends of Tennis to Your Living Room

2K sports is reviving a classic with TopSpin 2K25.
July 9, 2024

Missouri Steps Up Efforts to Keep Chiefs, Royals From Moving to Kansas

Missouri Gov. Mike Parson is getting personally involved in efforts to retain the two local pro teams.
June 28, 2024

NHL Draft and the Sphere Are About to Make History Together in Vegas

League officials call the next-generation venue ‘the biggest canvas you’ll ever paint on.’
June 27, 2024

Hurdles Still Remain After Jaguars Secure $775 Million for Stadium

The NFL team still needs to get league approval on its stadium deal and select a temporary home.
June 25, 2024

Billions in Public Funds Are Pouring Into NFL Venues. More Is Expected

Jacksonville and Charlotte are paying big to keep their NFL teams happy.