Fertitta, Golden Nugget Casino Owner, buys NBA’s Houston Rockets

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Fertitta, Golden Nugget Casino Owner, buys NBA’s Houston Rockets

Tilman Fertitta has added NBA team owner to his portfolio. The Houston Rockets were put on sale in July by current owner Lesli Alexander. Soon after, reports noted Fertitta as the new owner – purchasing the Houston Rockets for a staggering $2.2 billion! The purchase broke the previous record held by Steve Balmer, for purchasing the Los Angeles Clippers at $2 billion.

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What do we know about Tilman Fertitta

For Fertitta, buying the Houston Rockets is a dream come true, as he has always wanted to own the team of his hometown. In fact, this was his second attempt at buying the team, his first bid was unsuccessful and lost to Alexander by $4 million.

He was originally a stakeholder in the NFL’s Houston Texans, but league restrictions prohibited owners from having all draws to gambling. Thus, resulting in Fertitta selling his shares in 2008. Fertitta is a seafood restaurateur but is better known for being a casino mogul. He owns the prominent luxury hotel and casino group – Golden Nugget Casino; known for their top-notch service and mega bonuses.

The numbers

Alexander bought the Houston Rockets for $85 million back in 1993. However, by February this year, Forbes magazine had listed the value of the team at $1.62 billion. Consequently, the new purchase of the team is a record price for a professional basketball team. The purchase puts the team in the 8th spot for the most valued franchise in the NBA.

How does this deal affect people betting on the Houston Rockets at Golden Nugget?

Fertitta is not the only NBA owner with links to gambling. For example, Gary Loveman, chair of Caesars Entertainment acquired sectional ownership of Boston Celtics. Following this, all wagering on Boston Celtics via Caesars Entertainment is prohibited. In a similar situation, Silverton Casino does not permit wagers on NHL’s LA Kings and WNBA’s Los Angeles Sparks because Ed Roski, owner of Silverton Casino has vested interests in the teams.