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Landry's, Inc.
Company typePrivate
NYSE: LNY
IndustryHospitality
Gaming
Restaurant
FoundedApril 2, 1980; 44 years ago (1980-04-02) in Katy, Texas, United States
FoundersBill and Floyd Landry
HeadquartersHouston, Texas, U.S.
Number of locations
471 total properties [note 1] (2021)
Key people
Tilman Fertitta (president & CEO)
ProductsCasual dining, Fine dining, Casino games, Entertainment destinations, Resorts
RevenueIncrease $3 billion (2021)
OwnerTilman Fertitta
Number of employees
58,000 (2021)
Websitelandrysinc.com
Landry's Hangar – Hobby Airport, Houston

Landry's, Inc., is a privately held American multi-brand dining, hospitality, entertainment, and gaming corporation headquartered in Houston, Texas. Landry's, Inc., owns and operates more than 600 restaurants, hotels, casinos, and entertainment destinations in 35 U.S. states and the District of Columbia. The company also owns and operates numerous international locations. The company is owned by President & CEO Tilman Fertitta.

The first Landry's Seafood restaurant opened in Texas in 1980. While many patrons assumed it was named for Dallas Cowboys coach Tom Landry, it was not;[1] Bill and Floyd Landry were the original owners. They had started opening restaurants in the Houston area in the 1970s.[2]

History

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Brothers Bill and Floyd Landry and other partners from their hometown of Lafayette, Louisiana, began opening authentic Cajun restaurants in the Houston area in the 1970s. These included Willie G’s (named for their father), near The Galleria, and the first Landry's Seafood on the far west side of the city.[2] By 1986, nearly all of the partners wanted to sell their shares. They found a willing buyer in Tilman Fertitta, who paid $400,000 on December 31, 1986, for a controlling interest in the company.[2] The remaining partner, Denis Wilson, was bought out for $850,000. He received $250,000 upfront, but had to spend $120,000 in legal fees to eventually collect the remaining $600,000 from Fertitta.[2]

Fertitta became CEO and quickly began standardizing the appearance and menus of his restaurants; he removed the Cajun spicing from most dishes and scrubbed away the unique interior of Willie G's.[2] He took the company public in 1993, with a valuation of $30 million.[3]

Under Fertitta, the company expanded. In 2010, already the majority shareholder, Fertitta acquired all outstanding shares of company stock, gaining sole control and ownership.[4] By 2011, the company's value had risen to more than $1.7 billion.[5]

Acquisitions and growth

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1990s

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Throughout the 1990s, Landry's, Inc., expanded, developing and acquiring restaurant, entertainment, hospitality, and gaming businesses. In 1994, Landry's, Inc., acquired Joe's Crab Shack.[6] In 2006, Landry's, Inc., sold Joe's Crab Shack, which had grown to more than 120 locations, to J.H. Whitney & Company.[7] During the decade, the company acquired several other restaurants, including The Crab House and Cadillac Bar.[8]

Landry's, Inc., expanded its hospitality and entertainment divisions in 1996, acquiring the San Luis Resort, a 32-acre beachfront resort on Galveston Island's historic Seawall Boulevard and built on top of the former Fort Crockett.[9] In 2004, Landry's, Inc., partnered with the city of Galveston to open a 140,000 square foot convention center, the Galveston Island Convention Center at the San Luis Resort. In 2003, the company acquired the adjacent Holiday Inn Resort Galveston – On the Beach. In 2004, the adjacent Hilton Galveston Island Resort was acquired. The San Luis Resort includes 700 guest rooms, ten restaurants, and 200,000 square feet of event space.[10]

In 1998, the company developed the 35-acre Kemah Boardwalk, with a hotel, a marina, more than ten restaurants, and dozens of midway games, amusement rides, and attractions.[5] The company's hospitality division also includes The Westin Houston Downtown in Downtown Houston[11] and the Boardwalk Inn on the Kemah Boardwalk.[12]

2000s

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After 2000, Landry's, Inc., continued to grow. In 2000, the company acquired Rainforest Cafe, a collection of jungle-inspired restaurants and retail villages.[13] In 2002, the company acquired three national seafood restaurants: Saltgrass Steak House,[14] Chart House,[15] and Muer Restaurants,.[16]

In 2003, the company opened the Downtown Aquarium, a 20-acre entertainment complex in Houston with an aquarium, a restaurant built around a 150,000-gallon, floor-to-ceiling centerpiece aquarium, a bar, banquet facilities, amusement rides, and midway games. A train carries guests into a tunnel running through a 250,000-gallon shark tank. Other Aquarium restaurants have since opened in Denver, Nashville, and on the Kemah Boardwalk in Texas.[17]

In 2005, the company acquired Golden Nugget Hotel & Casinos, with locations in Las Vegas and Laughlin, Nevada.[18] Landry's, Inc., has since opened three additional locations in Atlantic City, New Jersey,[19] Biloxi, Mississippi[20] and Lake Charles, Louisiana.[21]

On October 14, 2008, T-Rex Cafe, a dinosaur themed restaurant chain at Disney Springs formerly known as Downtown Disney in Orlando, Florida, location was also opened to the public, and the Legends Outlets in Kansas City, Kansas, location was opened in 2006 and which was closed on August 13, 2017, replaced by Michael Kors and it is themed after The Rite of Spring segment by Igor Stravinsky in the 1940 Walt Disney's animated film Fantasia (1940).

2010s

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Landry acquired Bubba Gump Shrimp Company in 2010.

In 2010, Landry's, Inc., acquired three new restaurants: Bubba Gump Shrimp Company, a collection of seafood restaurants themed on the movie Forrest Gump,[22][23] The company also acquired Claim Jumper, a national chain of family restaurants.[24] The Oceanaire, a national collection of seafood restaurants,[25] is known for flying in fresh fish daily.[26]

In 2011, Landry's bought two more restaurants – McCormick & Schmick's Seafood & Steaks[27] and Morton's The Steakhouse.[28] In 2012, the company expanded its entertainment division with the opening of the Galveston Island Historic Pleasure Pier.[29]

In 2013, Landry's acquired Mastro's restaurants.[30] The company has developed and acquired a collection of restaurants called Landry's Signature Group, which include Vic & Anthony's, Grotto, Brenner's Steakhouse, Brenner's on the Bayou, La Griglia, and Willie G's Seafood & Steaks.[31] In 2016, Landry's acquired the BR Guest restaurant brand.[32]

In August 2017, Landry's re-acquired Joe's Crab Shack restaurants from Ignite Restaurant Group, which had filed for bankruptcy protection on June 6, 2017.[33][34][35] Landry's had sold Joe's to Ignite's predecessor in 2006.[36] The Ignite group's Brick House Tavern, and Tap restaurants were also included in the deal.

In September 2019, Landry's bought Seattle-based Restaurants Unlimited Inc,[37] adding Skates on the Bay, Portland City Grill, Manzana Grill, Palisade, Cutters Crabhouse, Stanford's, Henry's Tavern, Kincaid's, Palomino Restaurant & Bar, and Portland Seafood Company to its portfolio.

Also in September 2019, Landry's acquired Del Frisco's Grille and Del Frisco's Double Eagle Steak Houses for around $650 million.[38]

Properties and subsidiaries

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Hotels and Casinos

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Golden Nugget Casinos

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Main article: Golden Nugget Hotel & Casinos
Golden Nugget Lake Charles in Lake Charles.

Hotels

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Online Casino

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Main article: Golden Nugget Online

Landry's, Inc. will assume ownership of a 60% stake in the online casino platform, Golden Nugget Online Casino as part of the deal to go public.

Restaurants

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Fine Dining

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Casual restaurants

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Notable single location restaurants

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Entertainment Properties

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Amusement Parks/Boardwalks

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The Crawford Boxes
Landry's, Inc. operates the Tower of the Americas in San Antonio.

Other Properties

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Since the 1990s, Landry's has expanded to real estate holdings beyond dining and hospitality.

  • The Post Oak: Fertitta broke grounds on a mixed-use skyscraper in Houston that will accompany the company's headquarters. The building includes hotel rooms, residential rooms, and office buildings.
  • Post Oak Motor Cars: The company owns and operates Post Oak Motor Cars, Ltd., the largest factory-authorized Rolls-Royce Motor Cars and Bentley Motors dealership on the Gulf Coast.[56]
  • Landry's Crawford Boxes: Landry's, Inc., owns the naming rights to the left field bleachers at Minute Maid Park, the home of Major League Baseball's Houston Astros. The Landry's Crawford Boxes are so named because they parallel Downtown Houston's Crawford Street. Any fan catching a home run receives a gift card to Landry's, Inc. restaurants.[57]
  • Tower of the Americas (originally built for HemisFair '68): Landry's, Inc., operates Tower of the Americas, a 750-foot San Antonio, Texas, landmark. At the top of the tower, guests can dine at Chart House Restaurant. Other attractions include summer concert series; a 4D Texas ride;[58] and an observation level.[59]

Aquariums

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Landry's, Inc., owns aquariums in Houston, Denver, Nashville, and Kemah, Texas. All aquariums contain restaurants branded in Landry's Aquarium subsidiary.

Cruise

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  • Boardwalk FantaSea: A Houston area cruise line offering public and private cruise lines that travel through the Galveston Bay and the Gulf of Mexico.

White tiger exhibit

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On September 19, 2016, a consortium of parties, including the Animal Legal Defense Fund (ALDF), sent Landry's a notice of an intended lawsuit against it under the Endangered Species Act.[63] The lawsuit notice concerned the alleged treatment and habitat conditions of four white tigers exhibited at the Downtown Aquarium, Houston. The ALDF complained that the four tigers, which are federally protected by the Endangered Species Act of 1973, “are kept in deplorable conditions” at the Aquarium. According to a press release provided by the ALDF:[63]

"For the last 12 years, Landry’s has deprived these four tigers [...] of any access to sunlight, fresh air, or natural surfaces. These species-inappropriate living conditions violate the ESA [...]. At no point do the tigers have the opportunity to run, jump, or engage in the full range of their natural behaviors.

"The dungeon-like conditions that the tigers are forced to endure at Houston’s Downtown Aquarium harm their physical health and psychological wellbeing and deny them much that is natural and important to a tiger," says renowned big cat veterinarian Dr. Jennifer Conrad. "It is cruel to confine complex, roaming carnivores such as tigers to a tiny, dark, artificial, unenriched enclosure where they never see any daylight, much less bask in sunshine, and are at risk for serious long term, debilitating injuries from being forced to live on slippery, unyielding concrete their entire lives." […]

"By forcing these tigers to live in what amounts to a concrete dungeon, Landry’s has profited financially, but caused the tigers serious mental and physical harm .... Retiring the tigers to a sanctuary will guarantee that the tigers may spend the rest of their lives in the species-appropriate conditions that they need and deserve.”

Before the expiration of the 60-day notice period, Landry's sued the ALDF and its co-parties to the original lawsuit notice for defamation, business disparagement, tortious interference with prospective business relations, and abuse of process.[63] In response, the ALDF filed a motion for the dismissal of the defamation lawsuit, citing Texas’ Anti-SLAPP law, which allows judges to dismiss meritless lawsuits filed against those who speak out about a “matter of public concern.”[64]

On February 22, 2017, Harris County District Judge Steven Kirkland dismissed the defamation lawsuit filed by Landry's and further ordered Landry's to pay $450,000 in penalties and an additional $174,000 in legal fees to deter the company from filing such lawsuits in the future.[64] The decision to dismiss the defamation lawsuit by Landry's was affirmed on October 18, 2018, by the Fourteenth Court of Appeals of Texas, although the penalties sanctioned on Landry's were reduced.[63]

See also

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Explanatory notes

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  1. ^ 460 restaurants, 1 pleasure pier, 1 theme park, 3 aquariums, and 6 other real estate properties

References

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  1. ^ Ribowsky, Mark (November 4, 2013). The Last Cowboy: A Life of Tom Landry. W. W. Norton & Company. p. 24. ISBN 978-0-87140-748-1.
  2. ^ a b c d e Draper, Robert (May 1, 1997). "Big Fish". Texas Monthly. Retrieved February 16, 2023.
  3. ^ Melby, Caleb (August 23, 2012). "The World's Richest Restaurateur Has A Secret: It's Not About The Food - Forbes". Forbes. Retrieved January 4, 2015.
  4. ^ Kaplan, David (October 6, 2010). "Fertitta keeps strategy as he takes Landry's private". Houston Chronicle.
  5. ^ a b "Landry's History". Landry's Inc.
  6. ^ Hochwarth, Patricia (September 1, 2004). "Shipshape at Landry's". Restaurant Hospitality. Informa.
  7. ^ "Landry's to unload Joe's Crab Shack eateries". Houston Business Journal. October 9, 2006.
  8. ^ "Landry's filings may indicate big acquisition near". Houston Chronicle. December 11, 2004.
  9. ^ "History of Landry's Restaurants, Inc". Funding Universe.
  10. ^ "The San Luis Resort, Spa & Conference Center". www.sanluisresort.com.
  11. ^ "The Westin Houston Downtown - UPDATED 2017 Hotel Reviews & Price Comparison (TX) - TripAdvisor". www.tripadvisor.com.
  12. ^ "Kemah Boardwalk Inn". www.kemahboardwalkinn.com.
  13. ^ "COMPANY NEWS; LANDRY'S IN A NEW DEAL TO ACQUIRE RAINFOREST CAFE". New York Times. Reuters. September 27, 2000.
  14. ^ "Landry's to buy Saltgrass Steak House for $75 million". Houston Business Journal. September 11, 2002. Retrieved May 17, 2017.
  15. ^ "Landry's Acquires 39 Chart House Restaurants For $45.5 Million". Smart Brief. May 21, 2002. Retrieved May 17, 2017.
  16. ^ Kosdrosky, Terry (February 19, 2002). "Landry's Restaurants to buy C.A. Muer Corp". Crain's Detroit Business.
  17. ^ Catch of the week: Landry's gets nod to build downtown aquarium - Houston Business Journal
  18. ^ "Landry's Announces Completion of Acquisition of Golden Nugget Las Vegas and Golden Nugget Laughlin". Hotel News Resource. September 27, 2005.
  19. ^ Landry's plans a turn-around for Trump Marina in Atlantic City and points to its success at Las Vegas' Golden Nugget, pressofAtlanticCity.com; accessed May 17, 2017.
  20. ^ Fertitta opens Golden Nugget Biloxi's new additions - Houston Business Journal
  21. ^ Landry's expands Golden Nugget Casino brand in Lake Charles, Louisiana. Houston Business Journal; accessed May 17, 2017.
  22. ^ Landry's acquires Bubba Gump Shrimp Co., nrn.com; accessed May 17, 2017.
  23. ^ US: Landry's Buys Bubba Gump Shrimp Co. Restaurant Chain, flex-news-food.com; accessed May 17, 2017.
  24. ^ Landry's to acquire Claim Jumper, nrn.com; accessed May 17, 2017.
  25. ^ Landry's lands Minneapolis-based Oceanaire restaurants in deal, StarTribune.com; accessed May 17, 2017
  26. ^ "The Oceanaire Seafood Room in Hackensack, NJ". dee Cuisine. November 12, 2014. Retrieved August 21, 2023.
  27. ^ McCormick & Schmick's; Landry's Restaurants; takeover, Los Angeles Times; accessed May 17, 2017.
  28. ^ Landry’s clear to acquire Morton’s, nrn.com; accessed May 17, 2017.
  29. ^ Galveston Island Historic Pleasure Pier, Galveston.com; accessed May 17, 2017.
  30. ^ Landry's Inc. buys Mastro's Restaurants LLC, nrn.com; accessed May 17, 2017.
  31. ^ Landry's Signature Group; accessed May 17, 2017.
  32. ^ Ruggless, Ron (November 8, 2016). "Tilman Fertitta to acquire BR Guest Hospitality". Nation's Restaurant News. Informa USA, Inc.
  33. ^ CNBC (June 6, 2017). "Joe's Crab Shack owner Ignite files for bankruptcy". CNBC. Retrieved June 7, 2017.
  34. ^ BizJournals (August 9, 2017). "Parent co. of Joe's Crab Shack back in hands of Tilman Fertitta". Retrieved August 10, 2017.
  35. ^ Pulsinelli, Olivia (August 18, 2017). "Court approves Landry's deal to buy Joe's Crab Shack parent co". www.bizjournals.com. Retrieved August 21, 2017.
  36. ^ "Landry's to unload Joe's Crab Shack eateries - Houston Business Journal". Archived from the original on May 15, 2014.
  37. ^ Campbell, Megan (September 25, 2019). "Landry's wins bid to buy Seattle-based restaurant co. out of bankruptcy". Houston Business Journal. Retrieved September 27, 2019.
  38. ^ Fantozzi, Joanna (September 25, 2019). "Landry's buys Del Frisco's Grille and Double Eagle Steakhouse". Nations Restaurant News. Retrieved September 30, 2019.
  39. ^ Jang, Lily (July 25, 2013). "Fertitta to open Golden Nugget casino, resort in Lake Charles | khou.com Houston". Khou.com. Archived from the original on February 25, 2014. Retrieved March 29, 2014.
  40. ^ Skolnik, Sam (February 15, 2009). "Golden Nugget runs against economic winds". Las Vegas Sun. Retrieved March 13, 2009.
  41. ^ "The Best Hotel Suites in Las Vegas - Golden Nugget". www.goldennugget.com. Archived from the original on April 27, 2010.
  42. ^ "Laughlin Hotels - Golden Nugget Hotels and Casinos". www.goldennugget.com.
  43. ^ "Golden Nugget Laughlin". www.worldcasinodirectory.com.
  44. ^ "Golden Nugget - Laughlin - Weddings - Casino Resorts/Gaming - Convention & Meeting Planning". business.laughlinchamber.org.
  45. ^ "River Passage Water Taxi - Enjoy the View". riverpassagewatertaxi.com.
  46. ^ "Kemah Boardwalk - The Fun Never Stops!". www.kemahboardwalk.com.
  47. ^ "Kemah Boardwalk". Visit Houston.
  48. ^ "Travel - Yahoo Style". travel.yahoo.com. July 25, 2013.
  49. ^ www.valiantmedia.com, Web design by Valiant Media -. "Landry's Inc. - The Leader in Dining, Hospitality and Entertainment". www.landrysinc.com.
  50. ^ "Kemah Boardwalk - The Fun Never Stops!". www.kemahboardwalk.com.
  51. ^ Galveston Island Historic Pleasure Pier. "Galveston Island Historic Pleasure Pier". Facebook. Retrieved January 28, 2012.
  52. ^ Kaplan, David (January 28, 2012). "Historic Galveston amusement pier to rise again". Houston Chronicle.
  53. ^ Aulds, T.J. (January 28, 2012). "Landry's Corp. is close to revealing plans". Galveston Daily News. Archived from the original on January 31, 2012.
  54. ^ "Landry's set to unveil Galveston Pleasure Pier plans". News Article. Houston Business Journal. January 28, 2012.
  55. ^ MacDonald, Brady (February 9, 2012). "Galveston Pleasure Pier brings thrill rides back to Texas coast". Los Angeles Times. Retrieved February 9, 2012.
  56. ^ Network, All Auto. "Bentley & Rolls-Royce Houston, Texas". www.pomcltd.com.
  57. ^ "astrosseatingchart.com". www.astrosseatingchart.com.
  58. ^ Studios, CRM. "CRM Studios Creates $4 Million 3D/4D Ride-Film for Landry's Tower of the Americas Multi-Sensory Theater". www.prnewswire.com.
  59. ^ "San Antonio Tower of the Americas Re-Opens Wednesday, June 21 With Landry's $11 Million Redevelopment". www.prnewswire.com. Archived from the original on June 13, 2015.
  60. ^ "Downtown Aquarium". landrysrestaurants.com. Landry's Restaurants, Inc. Archived from the original on April 13, 2005. Retrieved August 12, 2010.
  61. ^ "The Denver Aquarium: Visit the ocean close to home". hellodenver.com. HelloDenver. Archived from the original on February 2, 2010. Retrieved August 13, 2010.
  62. ^ Aquarium Restaurant – Nashville, TN
  63. ^ a b c d "Landry's, Inc. and Houston Aquarium, Inc. v. Animal Legal Defense Fund, Carney Anne Nasser, and Cheryl Conley Appeal from 334th District Court of Harris County (opinion)". Justia Law. Retrieved February 15, 2019.
  64. ^ a b "AZA Wins Dismissal of Landry's Defamation Suit over Houston Aquarium Tigers". AZA Law. February 24, 2017. Retrieved February 15, 2019.
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