On Friday, the companies announced that they agreed to mutually terminate their merger agreement, originally entered into on 1 February 2021 and amended on 30 June 2021.Īccording to the announcement “the parties have simultaneously terminated their merger agreement after a settlement was reached regarding the parties’ disagreement over the termination date in the merger agreement”.Īs a result, Fertitta will pay Fast and its shareholders a $33m settlement in a “combination of upfront and deferred payments.” Some of the payments will be contingent on whether Fast can agree on a merger with another business.ĭoug Jacob, Founder of FAST said: “Fertitta Entertainment is an incredible hospitality empire run by the one of the world’s best operators that we have had a first-hand view into for many years now. Golden Nugget and Fast scrap merger plans This comes after the two companies agreed on terms for a merger in February that would have allowed Fertitta, who owns Golden Nugget and the Landry’s restaurant chain, to go public on the Nasdaq stock exchange. Fertitta Entertainment, Golden Nugget’s parent company, and the special purpose acquisition company (SPAC) Fast Acquisition Corp have mutually agreed to terminate their planned merger.

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