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Golden Entertainment closer to operating 2 Laughlin casinos – Las Vegas Review

The Colorado Belle in Laughlin on March 17, 2018. (Todd Prince/Las Vegas Review-Journal)The Colorado Belle in Laughlin on March 17, 2018. (Todd Prince/Las Vegas Review-Journal)Edgewater in Laughlin (Alan Snel/Las Vegas Review-Journal)Edgewater in Laughlin (Alan Snel/Las Vegas Review-Journal)

Golden Entertainment Inc. is one step closer to operating two Laughlin casinos.

Meeting in Carson City, the state Gaming Control Board on Wednesday unanimously recommended approval of Golden’s $190 million acquisition of the Colorado Belle and Edgewater properties from Marnell Gaming.

The Nevada Gaming Commission will consider final approval of the transaction Dec. 20.

Adding the Colorado Belle and the Edgewater would give Golden — owners of the Stratosphere and Arizona Charlies’ properties in Las Vegas — three adjacent casinos along the Colorado River next to Golden’s existing Aquarius development.

The Edgewater and Colorado Belle have more than 1,400 slot machines, 40 table games and 2,150 hotel rooms combined.

The Aquarius features more than 1,200 slot machines, more 30 table games and almost 2,000 hotel rooms.

Under terms of the deal, the company would pay $155 million of the price in cash and the rest in restricted stock priced at $28.54 a share. Marnell Gaming is positioned to receive as much as a 4.2 percent stake in Golden.

Marnell to board

Marnell Gaming CEO and Chairman Anthony Marnell III will be nominated to the board at the annual meeting of shareholders next year.

Golden executives said the transaction has been cleared by the Justice Department and Federal Trade Commission over competitive concerns. There are 11 properties in the Laughlin market.

“These assets fit very nicely into our portfolio, particularly given our expertise in operating value-driven and regional gaming operations,” said Steve Arcana, executive vice president and chief operating officer of

Article source: https://www.reviewjournal.com/business/casinos-gaming/golden-entertainment-closer-to-operating-2-laughlin-casinos-1543161/

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