Fertitta Seeks a $250 Million Payday After Ditching SPAC Deal

Two years ago, the pandemic forced Tilman Fertitta to shutter his empire of casinos and restaurants, furlough 40,000 workers, and inject $50 million of his own money into his company. Now the Texas billionaire is using exuberant debt markets to pay himself back, and then some.

Fertitta Entertainment is planning to pay out $250 million to its founder and sole owner, thanks to some $5.6 billion the company plans to borrow in bond and loan markets this month when it refinances debt, according to people with knowledge of the transaction. Money managers are eager to lend to companies ...