In 2008, MGM Mirage made a large investment in Gold Strike Casino Resort and a commitment to the Tunica market with a multimillion-dollar renovation and remodeling project. This casino resort is 4.6 mi (7.4 km) from Tunica RiverPark and 4.6 mi (7.4 km) from Tunica Queen Riverboat. Gold Strike Tunica (formerly Circus Circus Tunica) is an MGM Resorts International resort in Tunica Resorts, Mississippi, 20 minutes south of Memphis, Tennessee. The transaction is subject to regulatory approvals and other customary closing conditions.Д¬BRE Securities served as exclusive strategic and financial advisor to Cherokee Nation Businesses in connection with the transaction. 30 (986) Located in Robinsonville, Gold Strike Casino Resort is in the entertainment district, a 1-minute drive from Gold Strike Casino and 5 minutes from Tunica National Golf Course. вЂњThis acquisition will enable us to better serve our mission of growing Cherokee NationвЂ™s economy while also having a significant positive impact on the local economies we serve.вЂќ вЂњWe look forward to expanding our gaming and hospitality businesses as we execute on our strategic plan to grow our footprint outside of the Cherokee Nation Reservation,вЂќ said Chuck Garrett, chief executive officer of Cherokee Nation Businesses. Gold Strike features more than 1,100 oversized luxury guest rooms including 125 suites the 50,000-square-foot casino includes a sportsbook high-limit gaming area conference and convention center and award-winning dining options. The property features a 32-story hotel tower that has become one of the most recognizable buildings in Tunica. Gold Strike is located on the Mississippi River in Tunica, approximately 30 minutes from downtown Memphis. вЂњWe are excited for the team at Gold Strike Tunica to join the CNE family.вЂќ вЂњCherokee Nation Entertainment has a rich history of operating award-winning hospitality destinations in Oklahoma, and we are proud to continue our growth in gaming and bring the level of excellence we are known for to the Tunica area,вЂќ said Mark Fulton, president of Cherokee Nation Entertainment (CNE). (NYSE: VICI), the Gold Strike property owner. CNE Gaming Holdings, LLC, will enter into a long-term lease agreement with VICI Properties Inc.

The purchase price represents an EBITDA multiple of approximately six times, based on 2021 Adjusted Property EDITBAR of $115 million. Gold Strike Tunica offers some of the areas most lavish accommodations, perfect for relaxing and kicking up your feet after a. Gold Strike Casino Resort Robinsonville, Mississippi, US - Gold Strike Casino Resort 1010 Casino Center Dr, Robinsonville, Mississippi 38664 85 Reserve Lock in a great price for your stay. Gold Strike Poker Room - Gold Strike has an 14 table, non-smoking poker room upstairs.

Gold Strike Casino is located in Casino Center with Horseshoe and Sheraton Casinos. Also, emphasis on monetizing its real estate assets and boosting its domestic cash position bode well.(KTFX) TULSA, Okla.В вЂ“ Cherokee Nation Entertainment Gaming Holdings, LLC, a subsidiary of Cherokee Nation Businesses, today announced it has reached an agreement with MGM Resorts International (NYSE: MGM) to purchase the operations of Gold Strike TunicaВ for $450 million in cash, subject to customary adjustments. Gold Strike Casino has 1,482 slot machines and 50 gaming tables in its 50,000 sq ft. Sports betting and iGaming continues to be major growth driver. The company has been benefiting from the pent-up consumer demand, high domestic casino spending and strong international leisure trends. Shares of MGM Resorts have fallen 14.9% in the past six months, compared with the industrys decline of 38.8%. Image Source: Zacks Investment Research Price Performance Pre-pandemic, Gold Strike reported adjusted property EBITDAR of $67 million in 2019. Gold Strike reported a net income of $81.1 million and adjusted property EBITDAR of $115 million for the 12 months ended Dec 31, 2021. Strategically, though, we decided to narrow our focus in Mississippi to a single resort Beau Rivage and dedicate more of our time and resources towards continuing to drive success at that leading, world-class resort and casino. The deal, which is valued at $450 million in cash, will be closed in the first half of 2023.Д«ill Hornbuckle, CEO & president of MGM Resorts, said, Gold Strike is a wonderful property with a bright future ahead. MGM Resorts International MGM recently reached an agreement with Cherokee Nation Entertainment Gaming Holdings, LLC, a subsidiary of Cherokee Nation Businesses, to sell its operations of Gold Strike Tunica. Gold Strike Restaurant, Tunica: See 21 unbiased reviews of Gold Strike Restaurant, rated 4 of 5 on Tripadvisor and ranked 17 of 56 restaurants in Tunica. Book Gold Strike Casino Resort, Tunica on Tripadvisor: See 4,065 traveller reviews, 309 candid photos, and great deals for Gold Strike Casino Resort, ranked 1 of 14 hotels in Tunica and rated 4 of 5 at Tripadvisor.

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