Billionaire Tilman Fertitta seizes business opportunities - WLOX.com - The News for South Mississippi

Billionaire Tilman Fertitta seizes business opportunities

Billionaire investor and entrepreneur, Tilman Fertitta, shared the story of his success during a keynote speech Wednesday morning at the Southern Gaming Summit in Biloxi. Billionaire investor and entrepreneur, Tilman Fertitta, shared the story of his success during a keynote speech Wednesday morning at the Southern Gaming Summit in Biloxi.
BILOXI, MS (WLOX) -

He once sold vitamins for an Amway-type distributor and says success in business is all about recognizing opportunities.

Self-made billionaire, Tilman Fertitta, shared those lessons at the Southern Gaming Summit, where he delivered the keynote speech on Wednesday morning.

"Today, people want entertainment when they go eat, they don't want just good food," the entrepreneur and investor told the crowd.

And Fertitta knows a little something about entertainment. The Texas billionaire turned a two restaurant company, into an entertainment empire.

"Landry's is combined a pretty good sized company. It's been a lot of fun to build. We'll do over three billion in revenue this year with 55,000 employees," he told the crowd.

Fertitta said it's all about recognizing opportunities in business.   This from a man who earned his business bones at age 21, selling vitamins.

"It was my Shaklee vitamin business. 'Cause I had to do it all. I had to recruit, sell, buy. Do everything," he recalled.

These days he builds on an old school casino brand:  Golden Nugget.

"I bought in Biloxi, Golden Nugget, and I said, this has got pretty good "bones." I can make this work, just like Atlantic City," said Fertitta.

"I said, gosh, I can make this really nice meeting space again. I'll go put the pool right up front, to create that electricity. I'll build a brand new casino over there," he explained, "I think you guys, if you've seen the Golden Nugget Biloxi, it's about as nice a property as you'll go in anywhere. So, we're truly excited about it."

He told the Southern Gaming crowd that "flat revenue" is a real concern for the casino industry.

"We're continuing to open casinos, but yet we're not growing revenue. And I think, for these jurisdictions, one of the smartest things that they could do is stop letting people open casinos," he said.

The advice he shares with all his restaurant managers is, "The Tillman Rule."

"Ninety five percent of everything is right. So always look for the five percent that's wrong. And I can walk into any of my properties and I can spot that five percent very quickly."

No one in this conference crowd, doubted that for a moment.

One of his latest projects is preparing to open a new Golden Nugget casino in Lake Charles, Louisiana. That renovation should be finished by the end of this year.,

Copyright 2014 WLOX. All rights reserved.

  • Billionaire Tilman Fertitta seizes business opportunitiesMore>>

  • Super yacht turns heads at Point Cadet Marina

    Super yacht turns heads at Point Cadet Marina

    A super yacht is turning heads at Point Cadet marina in Biloxi, all 164 feet of the impressive vessel. The mega boat belongs to billionaire investor and entrepreneur Tillman Fertitta.More >>
    A super yacht is turning heads at Point Cadet marina in Biloxi, all 164 feet of the impressive vessel. The mega boat belongs to billionaire investor and entrepreneur Tillman Fertitta. Fertitta happens to be the owner of the Golden Nugget casino in Biloxi, which is right beside the marina.More >>
  • NEWSMore>>

  • Why we issue Alert Days

    Why we issue Alert Days

    Tuesday, May 23 2017 1:19 AM EDT2017-05-23 05:19:37 GMT
    Rain on Tuesday morning (5/23/17)Rain on Tuesday morning (5/23/17)

    When the WLOX First Alert Weather Team issues an Alert Day for South Mississippi, it is because we believe the  weather will impact your day. The current Alert Day is because of the high rainfall totals we have seen with the potential for more rain. In fact, a Flash Flood Watch is in effect through Tuesday evening.

    More >>

    When the WLOX First Alert Weather Team issues an Alert Day for South Mississippi, it is because we believe the  weather will impact your day. The current Alert Day is because of the high rainfall totals we have seen with the potential for more rain. In fact, a Flash Flood Watch is in effect through Tuesday evening.

    More >>
  • Cloe's Story: 'I was tired of being miserable. I didn't feel comfortable as a boy'

    Cloe's Story: 'I was tired of being miserable. I didn't feel comfortable as a boy'

    Tuesday, May 23 2017 12:20 AM EDT2017-05-23 04:20:06 GMT

    With her mom's support, Cloe, who was born Sidney, began her outward transition to become female. She made the decision her junior year in high school, and did it rather quickly.

    More >>

    With her mom's support, Cloe, who was born Sidney, began her outward transition to become female. She made the decision her junior year in high school, and did it rather quickly.

    More >>
  • Family of fallen service members invited to dedication of Gold Star Marker

    Family of fallen service members invited to dedication of Gold Star Marker

    Tuesday, May 23 2017 12:19 AM EDT2017-05-23 04:19:15 GMT
    Members of the Ocean Springs Garden Club standing next to the newly installed Gold Star Marker. (Photo source: Ocean Springs Garden Club)Members of the Ocean Springs Garden Club standing next to the newly installed Gold Star Marker. (Photo source: Ocean Springs Garden Club)

    If you have a family member who has died in service to our country you're invited to attend the dedication of the newly installed Gold Star Marker at the Mary C. O'Keefe Cultural Center in Ocean Springs. 

    More >>

    If you have a family member who has died in service to our country you're invited to attend the dedication of the newly installed Gold Star Marker at the Mary C. O'Keefe Cultural Center in Ocean Springs. 

    More >>
Powered by Frankly