Golden Entertainment has announced it will purchase two Nevada hotel and casino resorts from Marnell Gaming for between $168 and $190m.
The Edgewater Hotel and Casino Resort and the Colorado Belle Hotel and Casino Resort both border the operator’s Aquarius Casino Resort, in the Clark County town of Laughlin.
“[The transaction] provides us with an exciting opportunity to expand our portfolio to nine wholly-owned casino resorts in Southern Nevada, solidifying our presence in this growing and attractive gaming market,” said Golden chairman and CEO Blake Sartini.
“The transaction is consistent with our strategy to grow our business in an accretive manner for shareholders and Golden is uniquely positioned to benefit immediately from cost synergies related to the acquisition of these properties.”
Together, both venues feature over 1,400 slot machines, 40 table games and 2,150 hotel rooms, as well as 11 restaurants and the 12,000 seat Laughlin Event Centre.
Alongside the Aquarius, which houses 1,200 slot machines, over 30 table games and 2,000 hotel rooms, the Edgewater and Colorado Belle will create 55 continuous acres of Golden Entertainment owned property along the Laughlin Riverwalk.
“Over the past several years, Marnell Gaming has taken their expertise and created a significant hotel, casino and entertainment presence in Laughlin,” said Sartini. “We are excited to build on these well positioned properties.”
“As a result of this transaction, I am pleased to welcome Anthony Marnell III as a shareholder of Golden Entertainment.”
The finalisation of the purchase is expected to be announced in Q119.
