Golden completes US$850m American Casino acquisition

The acquisition of American Casino & Entertainment Properties brings to Golden Entertainment three properties in Las Vegas including the Stratosphere Casino, Hotel & Tower, Arizona Charlie’s Decatur and Arizona Charlie’s Boulder, as well as the Aquarius Casino Resort in Laughlin.

These properties expand and strengthen Golden’s presence in Nevada and the Las Vegas Locals market, while providing the company with an iconic Las Vegas destination property. Golden now operates 16,000 slot machines, 114 table games and 5,162 hotel rooms across eight casino properties and almost 1,000 distributed gaming locations including the largest branded tavern portfolio in Nevada.

Blake L. Sartini, Golden Entertainment Chairman and Chief Executive Officer, commented: "This acquisition of four leading Southern Nevada properties significantly increases our operational scale and perfectly complements our existing operations. Our new properties and existing businesses are well positioned to grow as they benefit from Nevada’s continued economic strength, particularly in the Las Vegas market.”

Charles Protell, Golden Chief Financial Officer, added: "The addition of the American properties to our portfolio firmly establishes Golden as a leading Nevada-focused regional gaming company with expected 2017 pro forma net revenues and adjusted EBITDA of US$847m and US$180m, respectively, which includes US$18m of estimated run-rate synergies.”

Source: GMB