An Indian tribe is to buy the operations of the Gold Strike Casino in Tunica, Mississippi, from MGM Resorts for $450m.
Cherokee Nation Entertainment Gaming will take over the operation in the first half of next year. MGM will then only have the Beau Rivage in Mississippi, but the sale will enable the company to focus on other opportunities, said CFO Jonathan Halkyard.
Gold Strike is owned by VICI Properties, who will enter into a separate lease with the Cherokees for a rent of $40m annually for 25 years.
