Golden Entertainment Buys American Casino and Entertainment, Adding Stratosphere in Las vegas, nevada to Gaming Portfolio

Golden Entertainment Buys American Casino and Entertainment, Adding Stratosphere in Las vegas, nevada to Gaming Portfolio

Las Vegas-based gaming distributor and casino conglomerate Golden Entertainment is increasing its holdings, the company announced on Monday. Stratosphere owner American Casino and Entertainment is being snapped up by Golden for an $850 million price, which includes $781 million on the dining table in money, plus four million stocks of the new owner’s stocks right back to the vendor.

The Stratosphere has an owner that is new after Golden Entertainment bought the home along with three other resorts for $850 million in cash and stock.

Once the deal is completed, Golden Entertainment will own eight casino resorts as a whole, with the best-known coming in the sale from the Stratosphere, which stands 1,149 foot high during the north that is far of the Las Vegas Strip.

Established in Taverns and Supermarkets

The company’s other gaming properties come in Pahrump, Nevada and Flintstone, Maryland. Also in Golden’s pre-existing portfolio are PT’s Entertainment Group and its more than 50 Nevada-based taverns with gaming, plus the lucrative lock on one of the gaming device distribution companies that are largest in the US, which brings slot machines to almost 1,000 supermarkets in Nevada and Montana.

Upon completion of the deal, Golden Entertainment will operate 15,800 slots, 114 table games, and over 5,100 hotel rooms in Nevada. Traded on NASDAQ, shares of Go Continue reading “Golden Entertainment Buys American Casino and Entertainment, Adding Stratosphere in Las vegas, nevada to Gaming Portfolio”