Our customers were the best, and we still had many of the same regulars 37 years later. “Back then, everyone was like family, customers included,” she said. (Las Vegas Review-Journal archive photo)įor Terri Penuelas, the former Gold Strike Inn & Casino was more than just a place where she worked for nearly four decades. All rights reserved.An inside view from the hotel in the days following the fire. Benzinga does not provide investment advice. Rebranded McDonald's Restaurants To Reopen In Russia: Reutersĭon't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better. Price Action: MGM shares closed 3.04% lower at $34.32 on Thursday.Ĭhanel Owners Pocket $5B Windfall On Post-Pandemic Boom: Bloomberg

Strategically, though, we decided to narrow our focus in Mississippi to a single resort – Beau Rivage – and dedicate more of our time and resources towards continuing to drive success at that leading, world-class resort and casino,' said CEO Bill Hornbuckle. 'Gold Strike is a wonderful property with a bright future ahead. The transaction is expected to close in the first half of 2023. MGM's master lease agreement with VICI Properties Inc (NYSE: VICI) will be amended to reduce annual rent by $40 million to account for the sale of the operations of Gold Strike.

The company expects net cash proceeds after taxes and estimated fees to be about $350 million.įor the twelve months ended December 31, 2021, Gold Strike reported a net income of $81.1 million and Adjusted Property EBITDAR of $115 million. MGM Resorts International (NYSE: MGM) has decided to sell the operations of Gold Strike Tunica to Cherokee Nation Entertainment Gaming Holdings LLC (CNE), a subsidiary of Cherokee Nation Businesses, for $450 million in cash.

Gold strike casino nevada