Texas billionaire Tilman Fertitta, who built his fortune in restaurants and has branched out into casinos, added another property to his holdings. Fertitta acquired Wildwood Casino and Hotel in Cripple Creek, CO last week.
Fertitta already owns the Golden Nugget in Las Vegas, as well as casinos in Laughlin, NV, Biloxi, MS, Atlantic City, NJ, and Lake Charles, Louisiana. Tilman, who Forbes estimates his worth at $8.1 billion, owns several restaurant chains and the Houston Rockets.
The latest casino, located about 100 miles south of Denver, has 528 slot machines, 12 tables for poker, blackjack, craps, roulette and baccarat, and is listed as the largest facility in the area, according to the Colorado Division of Gaming.
“Located just 45 miles from Colorado Springs, Cripple Creek has grown significantly over the years attracting visitors from across the country,” Gerry Del Prete, chief operating officer of gaming for Fertitta Entertainment, said in a news release. “We are thrilled to join this community and look forward to enhancing the property and bringing our brands to this new destination city.”
Like his other casinos, this one will be rebranded with the Golden Nugget name. Fertitta Entertainment was required to file documents with the Securities and Exchange Commission to become a publicly traded company, the price for the Colorado casino was listed at $43 million. The company ended up not going public.
The previous owner of the casino was American Gaming Group. AGG had opened the casino in 2008 and recently spent $14 million to build a 101-room hotel.
The deal was brokered by Innovation Capital.
Joseph Canfora, managing partner and CEO of American Gaming Group, Wildwood’s parent company, said, “Innovation Capital’s advice and execution on the sale process resulted in a value creating transaction for AGG’s shareholders. We have worked with Innovation on numerous transactions over the years and we value our relationship with them and their client-first approach to the business.”
Fertitta is not done trying to acquire casinos. It has long been rumored that the 65-year-old is eyeing the Las Vegas Strip to either purchase an existing casino or build on vacant land.
“Yes, 100 percent, I’m interested,” Fertitta told the Houston Chronicle in 2019 regarding the Las Vegas Strip. “I’ll try to pick off one or two properties.”
