Tilman Fertitta Buys New York’s Famous Keens Steakhouse for $30M

Tilman Fertitta, a billionaire from Houston, has expanded his hospitality empire by acquiring the well-known Keens Steakhouse in Midtown Manhattan for $30 million. Fertitta, who owns the Houston Rockets NBA team and heads Landry’s, called the famous restaurant a “New York jewel” and promised to maintain its rich history.

Historic Keens, Iconic for Its Mutton Chops, Welcomes Fertitta as New Owner

Keens, situated at 72 West 36th Street close to Herald Square, has been a fixture in New York’s food scene since 1885. Albert Keen started this restaurant, which has welcomed many generations of customers, including famous people like Theodore Roosevelt, Babe Ruth, and the late chef Anthony Bourdain. Its standout dish, a 26-ounce mutton chop, continues to be popular among people who eat there.

Dr. George Schwarz bought and breathed new life into the steakhouse in the late 1970s saving it from going downhill. When Schwarz died in 2016, his estate and a committed group headed by General Manager Bonnie Jenkins took over running the place. Jenkins stressed that Fertitta buying the restaurant fits with its long-standing commitment to being top-notch, reported Bloomberg. She felt sure Schwarz would have given the deal his thumbs up.

Fertitta bought Keens on his own, not through Landry’s, which runs many well-known restaurant chains such as Morton’s The Steakhouse, Mastro’s, and Del Frisco’s. Jenkins pointed out that Fertitta values Keens’ special qualities, including its old-world charm and museum-like feel, with its display of old pipes once owned by famous people.

Fertitta Adds Keens to Growing List of High-Profile Acquisitions

Keens marks Fertitta’s newest big-name purchase as he keeps growing his business ventures. Not long ago, he shelled out $450 million for the upscale River Oaks District mall in Texas and became the biggest investor in Wynn Resorts. He is also building a 43-story casino resort on the Las Vegas Strip.

Earlier this month, Fertitta increased his stake in Wynn Resorts to 9.9%, signaling potential plans to influence the company’s strategy and address perceived management shortcomings. While his role is currently labeled as “passive,” analysts speculate he may push for changes to enhance Wynn’s financial performance and growth opportunities.

Analysts view Fertitta’s increased stake in Wynn Resorts as a sign of confidence in the company’s potential rather than an attempt at a takeover. Experts have highlighted regulatory hurdles and Wynn’s complex structure as barriers to any immediate acquisition plans.

Notably, the billionaire, with a net worth of over $15 billion, has made a name for himself by buying “trophy assets” in hotels and real estate. By getting Keens, Fertitta strengthens his presence in New York City’s food scene.