Landry’s Inc. will expand the Golden Nugget Casino brand to Biloxi, Miss., with the acquisition of the Isle Casino Hotel in that city, the company said Monday.
The Golden Nugget, which has hotel-casinos in Nevada and New Jersey, plans to re-open the 720-room property in 2013, the Houston-based hospitality company said. Terms of the deal, which requires regulatory approvals, were not disclosed. Landry’s expects the transaction to be completed within four to six months.
“We are excited to bring the Golden Nugget to Biloxi and have plans to transform the property to a luxurious and exciting hotel and casino with the highest level of service,” Tilman J. Fertitta, owner, chairman and chief executive of Landry's Inc., said in statement.
Restaurants planned for the property include Landry’s brands The Chart House, which will overlook a marina, Grotto Italian Ristorante and the recently acquired Morton’s Steakhouse, as well as Lillie’s, an Asian cuisine restaurant.
Fertitta's gaming companies include Golden Nugget Casinos in Las Vegas and Laughlin, Nev., and Atlantic City, N.J. The company said points and rewards accrued from the Isle Casino will be honored by the new Golden Nugget property, as well as the three others.
The Isle Casino is third largest casino hotel in the Biloxi/Gulfport market.
“The entire property will be updated with a modern look to include new bars and lounges with live entertainment, stylish retail offerings and updated rooms,” Fertitta said. “There will be a high-energy Rush Lounge and a unique Live Bar to complement a new spa, poker room, and a state of the art showroom. Also, there will be an innovative H2O Resort Pool and Lounge, which will introduce all-season hot tubs and fire pits.”
Fertitta’s company recently re-opened the former Trump Marina property in Atlantic City as a 750-room Golden Nugget Hotel Casino and Marina after a 10-month, $150 million renovation. That property features Landry’s Chart House, Vic & Anthony's Steakhouse and Grotto restaurants.
Landry's restaurant portfolio includes Landry's Seafood House, Rainforest Cafe, McCormick & Schmick's Seafood Restaurant, The Chart House, Bubba Gump Shrimp Co., Claim Jumper, Saltgrass Steak House and Oceanaire, among others. The company also owns and operates the Kemah Boardwalk and the San Luis Resort Complex in Texas, and the Downtown Aquariums in Denver and Houston.
Landry's and Fertitta's affiliated companies will generate about $2.5 billion in revenue this year, the company said.