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Tilman Fertitta, a businessman from Houston, put a flag on the Strip.
Fertitta completed the purchase of around 6.2 acres of land on Wednesday near the southeast corner of Las Vegas Boulevard.
Although Tilman Fertitta already owns the Golden Nugget, his most recent acquisition provides the business tycoon a footing in the centre of the nation's gambling epicentre.
The Review-Journal received confirmation from a source with Fertitta's company, Fertitta Entertainment, that the acquisition had closed but the source would not elaborate on their plans for the website.
Owner and CEO of Fertitta Entertainment, Fertitta oversees a business empire with over 50,000 people that includes restaurants, hotels, and professional sports.
His investments include the Houston Rockets basketball franchise, Golden Nugget casinos in Nevada and other states, and food brands like Bubba Gump Shrimp Co. and Joe's Crab Shack.
He is related to the brothers, Lorenzo and Frank Fertitta, who serve as vice chairman and chairman, respectively, of Red Rock Resorts, the company that owns Station Casinos.