Golden Entertainment is preparing to add four additional casinos to its gaming empire.
This month, Golden announced that it had entered into an agreement to purchase American Casino & Entertainment Properties for $850 million, a sale which will include Vegas casinos the Stratosphere, Arizona Charlie's Decatur and Arizona Charlie's Boulder, as well as the Aquarius Casino Resort in Laughlin, Nev.
The gaming and hospitality company's portfolio currently includes four casino resorts in Nevada and Maryland, more than 50 pubs under brand names such as PT's Pub and Sierra Gold and distributed gaming, including more than 10,500 slot machines in 980 locations such as Smith's, CVS and Buffalo Wild Wings.
"The American properties represent an ideal complement to our existing operations as they strengthen our presence in the Las Vegas locals market while providing us with an iconic destination property on the Las Vegas Strip," said Golden chairman and CEO Blake Sartini via a statement. "In addition, given the recent investment activity focused on the north end of the Las Vegas Strip, we see future potential to develop the approximately 15 acres of excess real estate surrounding the Stratosphere."
This is the second casino purchase on the northern end of the Strip in as many months. In late May, Grand Sierra Resort owners Meruelo Group agreed to purchase the SLS, one of the Stratosphere's casino neighbors.