The acquisition strengthens and diversifies the operator’s portfolio
US.- Nevada Gold & Casinos, Inc. has completed the purchase of Club Fortune Casino in Henderson, NV; the transaction was made for a total consideration of $14.1 million cash and $ 1.2 million in common shares.
The President and CEO of the company, Michael P. Shaunnessy, stated: “The addition of Club Fortune to our portfolio is consistent with our strategy to enhance shareholder value by pursuing strategically attractive acquisitions.” “We are very excited to welcome the Club Fortune employees to the Nevada Gold & Casinos family and to establish an operating presence in the Nevada market. The transaction is immediately accretive to our free cash flow and strengthens and diversifies our portfolio.”
Club Fortune Casino includes in its 35,000 building a total of 7 table games, 541 slot machines, a poker room, and a sports book. It also features leisure facilities such as a restaurant, two bars, an entertainment lounge, snack bar and gift shop.
Nevada Gold & Casinos, Inc. is a developer, owner and operator of 9 gaming operations in Club Fortune locals casino in Henderson, Washington (wagoldcasinos.com) and a slot route operation in South Dakota (dakotaplayersclub.com.)