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Golden Entertainment hopes renovations of The Strat boost earnings – Las Vegas Review

Executives of Golden Entertainment Inc. are counting on a $90 million investment in renovations ...Executives of Golden Entertainment Inc. are counting on a $90 million investment in renovations ...

Now that Golden Entertainment Inc. is nearing completion of close to $100 million in renovations at The Strat, company executives Thursday said they are willing to let the property run without disruption while the Strip grows to the north.

Earlier this year, the company — operators of nine Southern Nevada resorts and the nation’s largest slot route operation — opened a new tap house, lounge and sportsbook at The Strat. It also completed renovations to the SkyPod on the 108th floor of the tower, which includes a remodeled gift shop and food and beverage outlets and improvements to the SkyJump experience.

There have been renovations to other food and beverage outlets, including Top of the World, Strat Café and Starbucks, and to the exterior lighting and landscaping of the property.

Most of the renovations at The Strat are scheduled to be completed by the end of 2019. With the ongoing casino renovations, 130 hotel rooms were renovated in the third quarter. Golden expects to renovate an additional 126 rooms by year end, bringing the number of renovated rooms to 573 since June 2018.

Golden Chairman and CEO Blake Sartini and President and Chief Financial Officer Charles Protell indicated in the company’s earnings call with investors that The Strat has not fulfilled its greatest potential because of construction-related disruptions at its flagship property.

“From where we sit right now, as we think about how we position the business heading into 2020, it’s about getting to the point where we

Article source: https://www.reviewjournal.com/business/casinos-gaming/golden-entertainment-hopes-renovations-of-the-strat-boost-earnings-1887936/

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