By Anthony Curtis
FOR THE UNION-TRIBUNE
February 20, 2005
Landry's Restaurants has purchased the historic downtown Golden Nugget casino for $295 million. Landry's is buying the Nugget from Tim Poster and Tom Breitling, the two young dot-com millionaires who've owned the casino for little more than a year, but made a big media splash with "The Casino," the reality-TV show based on their casino-owning exploits.
Landry's owns more than 300 restaurants nationwide, including Landry's Seafood, Joe's Stone Crab Shack and Rainforest Café brands. Tilman Fertitta, chairman and CEO of Landry's, is a cousin to Frank and Lorenzo Fertitta, principals in Las Vegas' locals casino giant, Station Casinos. The deal is expected to close by the end of the year. Landry's has also hinted that it might make an offer for the Riviera.
GVR expansion: Green Valley Ranch, the Station Casino resort that's featured on its own realty show, "American Casino," has unveiled a 296-room expansion, giving it nearly 1,000 rooms. The expansion includes three supersuites, one 5,000 square feet, the other two 2,500. Meeting space, a spa expansion, a remodel of the Whisky Nightclub and BullShrimp restaurant, and a new 24-hour coffee shop will complete the project within a few months.
Super "KA": The new Cirque du Soleil show, "KA," at the MGM Grand is an amazing spectacle combining sound, pageantry and technology. While the entire production is first-rate, the star of the show is the stage itself. Due to advanced hydraulics technology, the stage can be turned in all directions and even on its side, making for bizarre effects never-before seen on a live-production stage. If you can handle the steep ticket prices ($99-$150), "KA" is Las Vegas' newest entertainment must-see.
QUESTION: The world knows that the Patriots are the Super Bowl champions. But who won the battle at the books, the casinos or the bettors?
ANSWER: The last touchdown by the Eagles was a monster for the sports books, allowing them to collect an avalanche of Patriots bets that had to win by seven points to collect. It's called a "back-door cover" in the business, and it made the casinos the big winners this year.
From Anthony Curtis' Las Vegas Advisor monthly newsletter. To order, call (800) 244-2224 or visit www.lasvegasadvisor.com.