HOUSTON – (Realty News Report) – Houston billionaire Tilman Fertitta, owner of the Golden Nugget casinos, numerous hotels and hundreds of restaurants, has temporarily furloughed about 40,000 employees, Bloomberg News reports.
Fertitta told Bloomberg that government-ordered shutdowns related to the coronavirus pandemic have forced heavy daily losses. Restaurants that are open for takeout are generating only four to five percent of their usual sales, he said.
Houston-based Landry’s, Inc., which Fertitta owns outright, operates a wide range of dining brands. These include Del Frisco’s Steakhouses, Willie G’s and McCormick & Schmick’s, as well as casual dining concepts such as Landry’s Seafood, Bubba Gump Shrimp Co., Rainforest Cafe, Mitchell’s Fish Market and Saltgrass Steak House. The company also owns BR Guest restaurants in New York, including Dos Caminos and Bill’s Bar & Burger.
Landry’s gaming division runs the Golden Nugget hotel and casino properties in Las Vegas and Laughlin, Nevada; Atlantic City, New Jersey; Biloxi, Mississippi; and Lake Charles, Louisiana. The company’s entertainment holdings include the Galveston Island Historic Pleasure Pier, the Kemah Boardwalk and associated aquarium restaurants.
Hospitality properties in Fertitta’s portfolio include the San Luis Resort, Spa & Conference Center on Galveston Island and the Post Oak Hotel near Loop 610 in Houston.
Fertitta also owns the NBA’s Houston Rockets and serves as chairman of the University of Houston Board of Regents.
A native of Galveston, he studied at the University of Houston’s Conrad N. Hilton College of Hotel and Restaurant Management.
March 24, 2020 Realty News Report Copyright 2020
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