Tilman Fertitta says "No Problem"
What me worry? Kevin Whited explores Landry's Debt problems. A $100Mil hew $400 mill there and pretty soon we are talking serious debt. It takes a lot of shrimp to pay for new roller coasters and casinos. Tilman Fertitta claims he has it all under control though.In addition to the notes, which are held in trust by U.S. Bank, Landry's has a $450 million credit agreement with Wachovia Bank with a similar stipulation regarding its filing of financial statements.
Landry's said Wachovia could require immediate payment of the $97 million it owes on the credit agreement, but it hasn't and it doesn't expect the bank to.
"Nothing is wrong with the company," Fertitta said.
As Kevin puts it, "Well, if Fertitta says so, allrighty then!"
posted by Liberty @ 8:57 PM
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