Fertitta-Spurned SPAC Sued Over Billionaire’s Merger Breakup Fee

A blank-check company that planned to merge with Tilman Fertitta’s restaurant and casino empire was sued by an investor over the breakup fee the billionaire’s company paid to exit the deal.

Fertitta Entertainment Inc., the parent company of Golden Nugget casinos and Landry’s restaurants, agreed to pay as much as $33 million in December to end a planned $8.6 billion merger with Fast Acquisition Corp., a special-purpose acquisition company led by Ruby Tuesday Inc. founder Sandy Beall.

In a suit filed Wednesday in Delaware Chancery Court, Special Opportunities Fund Inc. accused the SPAC, Beall and six ...