Don't you understand that the special acquisition company that would be needed to acquire a recognized brand is no longer necessary, because he just bought back his old company, with a very recognized brand name for far less than 300 million? AND IT ALREADY HAS A TICKER BUT HAD TO LEAVE NADSAQ BECAUSE OF PPS. Landry's can now spin it off and keep the shares intact. There's no reason not to, in fact there's more reason to do so because the primary rule of making money in business is to use other people's money. Whose money would that be? Uhmmm how about Credit Suisse, and the others that already pumped hundreds of millions into it, along with new public money from recognition via the Billionaire Buyer TV show? Those original investors in IRGT still want to make their money back. Why do you think things are going so smoothly? Obviously lots of people think some thing is going on, otherwise the price would have dropped already. Did you notice the language in the WSJ article "this has been very complex" If you had any basic experience buying and selling real estate, which everyone should have by at least age 30, then you KNOW THAT NOTHING IS DONE UNTIL IT IS CLOSED. Aug 29th is the day. And it is my guess that there is another complex leg of this trip which involves the rolling of certain other brand names currently operating under Landry's into the new public entity.
