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Industry: Email Alert RSS FeedLandry's raises bet via 2nd Golden Nugget buy
Nation's Restaurant News, June 20, 2005
HOUSTON -- Landry's Restaurants Inc. is buying the Golden Nugget Hotel and Casino in Laughlin, Nev., in addition to its previously reported purchase of the Golden Nugget in downtown Las Vegas.
Landry's deal on the Laughlin property came after Golden Nugget owner Poster Financial Group's deal with an earlier bidder, Barrick Gaming Corp., fell through after a May 31 deadline.
Houston-based Landry's will assume about $31 million in debt on the second property. Other terms of the deal were not disclosed.
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Landry's on Feb. 4 said it would buy the Las Vegas Golden Nugget for $295 million. Landry's expects the casino deals to be completed by year-end, expanding its portfolio, which includes the Joe's Crab Shack, Landry's Seafood, Rainforest Care and Saltgrass Steak House chains.
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