Gold Strike technically is owned by real estate investment trust Vici Properties Inc. “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.” “Gold Strike is a wonderful property with a bright future ahead,” MGM President and CEO Bill Hornbuckle said in a release announcing the sale. The deal is expected to close in the first half of 2023 and is subject to regulatory approvals and customary closing conditions. The company indicated Thursday it would continue to operate Beau Rivage, its resort on the Mississippi Gulf Coast in Biloxi.īased in Catoosa, Oklahoma, Cherokee Nation Entertainment, a subsidiary of Cherokee Nation Businesses, operates 10 casinos across northeast Oklahoma, including Hard Rock Hotel & Casino, Tulsa.
The 32-story Gold Strike Tunica, which MGM has operated since the company purchased it in 2005, is one of two resorts the Las Vegas company owns in Mississippi. MGM Resorts International is selling its Tunica, Mississippi, property to Cherokee Nation Entertainment Gaming Holdings for $450 million. Operations will continue as usual, and all employees dedicated to the casino were retained.The 32-story Gold Strike Tunica, which MGM has operated since the company purchased it in 2005, is one of two resorts the Las Vegas company owns in Mississippi. We are excited to invest in this beautiful property and bring our three decades of industry experience to guests in the Mid-South market.”ĬNE Gaming Holdings LLC bought the operating company from Mandalay Resort Group LLC, a subsidiary of MGM Resorts International for approximately $450 million in cash.Ĭoncurrent with the purchase, the operating entity entered into a long-term lease agreement with GSCR Propco LLC, a subsidiary of VICI Properties Inc., which owns the real property associated with Gold Strike Casino Resort. “For years, we’ve set the standard of excellence in gaming. “This is a historic day of growth for our hospitality portfolio as we enter the commercial gaming industry, and we welcome the wonderful team at Gold Strike to the family,” said Mark Fulton, president and chief operating officer of Cherokee Nation Entertainment. A change of ownership for a Tunica casino becomes official with approval from the Mississippi Gaming Commission.Ĭherokee Nation Entertainment (CNE) Gaming Holdings LLC has officially assumed operations of Gold Strike Casino Resort.
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