| Type | Private |
|---|---|
| Industry | Restaurants, Entertainment & Hospitality industry |
| Founded | Houston, Texas |
| Headquarters | Houston, Texas |
| Key people | Tilman J. Fertitta, President & CEO |
| Products | Casual dining Casino Games Resorts |
| Revenue | $298.02 million USD (March 24, 2008) |
| Employees | 28,000 (2005) |
| Website | www.landrysrestaurants.com |
Landry's Restaurants, Inc., is an American corporation based in Houston, Texas, which is in the business of developing restaurants and hospitality projects.[1]
The company owns 33 casual dining and specialty restaurants, as well as casino and entertainment venues, convention facilities and hotels in the United States. At the end of 2005 the company had operations in 35 states and the District of Columbia.
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The company started in 1980 with the original Landry's Seafood House Restaurant located in Katy, Texas. A year later, they opened Willie G's Seafood and Steak House in Uptown Houston. In 1986, Tilman J. Fertitta obtained controlling interest in the two restaurants and would later become the CEO of the company, which went public in August 1993.[2]
Under Fertitta, the company grew rapidly through acquisition and expansion of Landry's and other restaurant concepts.
In 1998, the company completed development of the 35-acre (14 ha) Kemah Boardwalk, which includes restaurants, a hotel, amusement rides, and a marina.
Recently the company has expanded into larger entertainment ventures, such as the Kemah Boardwalk and the Downtown Aquarium in Houston, the Tower of the Americas in San Antonio, the Downtown Aquarium in Denver.
In 2003, Landry's bought Muer Seafood Restaurants, a small chain of seafood restaurants. In 2004 the company opened the Galveston Island Convention Center at the San Luis Resort, which was developed in a partnership with the City of Galveston, Texas. In 2005 the company acquired the Golden Nugget casino and hotels in Las Vegas and Laughlin, Nevada.
On November 17, 2006, Joe's Crab Shack was sold to J.H. Whitney & Company, a privately held company, operating as JCS Holdings, LLC. The sales price was $192 million including the assumption of liabilities.
On February 14, 2011, the company announced they were purchasing the Trump Marina in Atlantic City, New Jersey for $38 million. [3] The company re-branded it as the Golden Nugget Atlantic City. [4] The sale was approved May 23, 2011, and Landry's took full control of the resort.
On April 4, 2011, Fertitta made a bid to take McCormick & Schmick's private, offering $137.3 million ($9.25 per share) for the company's outstanding shares, a 30 percent premium over its April 1st closing price.[5] If the offer is accepted, McCormick & Schmick's operations would be would merged into Landry's.[5]