Golden Entertainment has completed the acquisition of American Casino and Entertainment Properties for US$850m from Whitehall Street Real Estate in a cash and stock transaction.
The deal sees Golden acquire three properties in Las Vegas, the Stratosphere Casino, Hotel and Tower; Arizona Charlie’s Decatur and Arizona Charlie’s Boulder. In addition, Golden gains the Aquarius Casino Resort in Laughlin, Nevada.
The addition of these properties mean 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, chairman and CEO of Golden, said: “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,” said Sartini.
“In addition, we have the ability to develop approximately 15 acres of excess real estate surrounding the Stratosphere, which we believe has enormous long-term potential.”
