Landry's announced
today that it has commenced a cash tender offer for any and all of its
$655,500,000 outstanding aggregate principal amount of 11 5/8% Senior Secured
Notes due 2015. In
connection with the tender offer, Landry's is soliciting consents to effect
certain proposed amendments to the indenture governing the Notes that would
release all of the collateral that secures the Notes and eliminate
substantially all of the restrictive covenants as well as certain events of
default. The tender offer and consent solicitation
is being made pursuant to an Offer to Purchase and Consent Solicitation
Statement dated March 26, 2012, which more fully sets forth the terms and
conditions of the Offer to Purchase.
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