Tilman Fertitta’s Restaurant Empire Stumbles as Rising Costs Eat Into Margins, Vows Aggressive Turnaround. Billionaire hospitality mogul Tilman Fertitta, owner of Landry’s and the Houston Rockets, faces a rare earnings miss as skyrocketing food and labor costs erode profits across his 600-plus restaurant portfolio. Fertitta confirmed plans to shutter underperforming units and pivot to premium dining concepts, warning investors of a “turbulent summer” ahead. The news sent shares of his publicly traded casino and dining arm, Fertitta Entertainment, down 4% in after-hours trading.