NEW YORK -- Landry's Restaurants Inc., Houston-based operator of more than 300 casual-dining restaurants, confirmed speculation that it soon would enter the gaming industry with the purchase of a casino property.
At the SG Cowen & Co. investor conference here this month, Landry's chairman, president and chief executive, Tilman J. Fertitta, said the company--which has grown to more than $1 billion in annual sales through a series of acquisitions, including Rainforest Cafe, Chart House and Saltgrass Steak House--can make a gaming acquisition this year and add $100 million to $200 million to gross earnings.
Fertitta said the gaming option would mean Landry's would "not have to open up 40 restaurants at the same time" to achieve growth.
In December Landry's offered $450 million in unsecured notes to institutional investors for uses it said could include acquisitions.
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