Feb 1 (Reuters) - Fertitta Entertainment Inc, owned byBillionaire Tilman Fertitta, said on Monday it has agreed to gopublic through a merger with a blank-check company, in a dealthat values the combined entity at $6.6 billion.
The deal with FAST Acquisition Corp includes a $1.2billion private investment from institutional shareholders,Fertitta Entertainment said.
It is the parent company of restaurant and gaming companyGolden Nugget and restaurant-chain operator Landry's.Landry's was taken public by hospitality magnate Fertitta in a$1.3 billion deal in 2008.
Fertitta would be the Chief Executive Officer of thecombined company and its largest shareholder, the company said.
A SPAC, or a blank-check firm, is a shell company that usesproceeds from an initial public offering to take a private firmpublic.
This is the fourth SPAC deal announced on Monday, withprivate jet charter company Wheels Up, data automotive firmOtonomo and mobile game developer Nexters Global all announcingdeals with blank-check firms earlier.
FAST Acquisition raised $200 million in its IPO in Augustlast year.
Jefferies is acting as the financial adviser to Fertitta,while Citigroup Global Markets is advising FAST Acquisition.
Last month, hardware supplier Hillman Group Inc agreed tomerge with Landcadia Holdings III Inc, another SPAC backed byTilman, at a valuation of $2.64 billion.
(Reporting by Niket Nishant in Bengaluru; Editing by ShinjiniGanguli)