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Landry’s paying $57M for restaurant, seafood chain

Updated August 18, 2017 - 10:38 pm

Golden Nugget owner Landry’s will pay $57 million for a restaurant and its old seafood chain.

Landry’s won Joe’s Crab Shack and Brick House Tap and Tavern in an auction held earlier this month.

Landry’s bid, the highest or best offer among four bidders, was approved Thursday by a court, according to court documents filed in U.S. Bankruptcy Court in the Southern District of Texas, Houston Division.

U.S. Bankruptcy Judge David Jones approved the deal, which is expected to close near the end of the month.

Joe’s and Brick House owner Ignite Restaurant Group filed for Chapter 11 bankruptcy in June.

Landry’s plans to turn shuttered locations into its namesake restaurant or try to revive the Joe’s brand, according to a statement Wednesday.

Landry’s had sold the majority of its Joe’s restaurants in 2006 to a private equity group. The group paid Landry’s $192 million.

Landry’s will consider selling the Brick House chain, according to the statement.

Landry’s, based in Houston, is owned by Tilman Fertitta, a cousin of Lorenzo and Frank Fertitta III. Lorenzo and Frank Fertitta are the brothers who own Station Casinos and used to own UFC.

Contact Wade Tyler Millward at wmillward@reviewjournal.com or 702-383-4602. Follow @wademillward on Twitter.

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