Food Industry
Industry: Email Alert RSS FeedLandry's closes on $295m Golden Nugget acquisition
Nation's Restaurant News, Oct 10, 2005
HOUSTON -- Landry's Restaurants Inc., owner of 300 casual-dining outlets and entertainment properties, has completed its purchase of the Golden Nugget casino-hotels in Las Vegas and Laughlin, Nev., by acquiring Poster Financial Group Inc. for $140 million in cash and $155 million in senior notes.
The deal was approved by the Nevada Gaming Commission Sept. 27.
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Landry's, which also assumed capital liabilities that include the casinos' $23 million house bank and Poster's existing credit facility, intends to install branches of several of its chains in the properties.
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