Nevada approves Aquarius casino sale
The local gaming commission unanimously voted in favor of the sale of Aquarius Casino Resort to Golden Entertainment.
US.- The Nevada Gaming Commission voted late last week on the sale of the Aquarius Casino Resort. The vote ended on a 5-0 approval of American Casino & Entertainment Properties to Golden Entertainment.
The US$850 million deal includes US$781 million in cash and approximately 4 million shares of Golden Entertainment stock issued to Whitehall Street Real Estate Partners, a Goldman Sachs division, local media reported. That number of shares mean that the latter will have 15 percent control of Golden Entertainment’s stock, as the documents filed with the Nevada Gaming Commission revealed. The deal also establishes that Golden Entertainment acquired the Stratosphere Las Vegas, Arizona Charlie’s Decatur and Arizona Charlie’s Boulder casinos.
During the filing, Golden Entertainment Chairman and Chief Executive Officer Blake Sartini said: “We’re not building four major casino resorts from the ground up, which obviously would be a much bigger undertaking in regards to growing the company. We’re really taking on what I think is a very experienced and credible team to bolster our existing family of team members and it’s a business I’ve been involved in since 1982.”
Moreover, commission member Phillip Pro said that the deal is a positive transaction for the communities involved: “I think it’s so important the way you have assembled this team and your involvement. You know the communities that you’re talking about, not just the gaming communities but the communities. It means something to you and that comes through in your presentation and it comes through in what you’re doing in each of these locales.”
