LAS VEGAS -- Landry’s Restaurants, which owns the Golden Nugget resorts in Las Vegas and Laughlin, is going private.

Chairman and CEO Tilman J. Fertitta finally got what he was after Tuesday, as the restaurant owner's board approved his $1.2 billion all-cash privatization bid.

The acquisition still needs approval from Landry's shareholders and is subject to the company refinancing part of its debt. The deal is targeted to close in the first half of 2010.

The Golden Nugget was purchased by Landry’s in 2005 and underwent a massive $170 million renovation project.

Another expansion will finally be complete when the Rush Tower opens next month. The tower will feature a massive, 75,000 gallon aquarium, high-end retail shops and expanded casino space.