“We’re looking forward to sharing that commitment with the people of Mississippi by also investing in their communities and contributing to the local economy.” Building our business outside of Oklahoma is a huge step that strengthens our ability to boost the Cherokee Nation economy while also building on our reputation of being a strong community partner and industry leader,” said Chuck Garrett, president and chief executive officer of Cherokee Nation Businesses. “This acquisition is a natural evolution for our company. Operations continue as usual, and the more than 1,100 team members dedicated to Gold Strike Casino Resort were retained. Gold Strike Casino Resort is located on the Mississippi River, approximately 30 minutes from downtown Memphis. (NYSE: VICI), which owns the real property associated with Gold Strike Casino Resort. Concurrent with the purchase, the operating entity entered into a long-term lease agreement with GSCR Propco LLC, a subsidiary of VICI Properties Inc. The Mississippi Gaming Commission issued its determination of suitability and approval of the acquisition in January. We are excited to invest in this beautiful property and bring our three decades of industry experience to guests in the Mid-South market.”ĬNE Gaming Holdings LLC purchased the operating company from Mandalay Resort Group LLC, a subsidiary of MGM Resorts International (NYSE: MGM), for approximately $450 million in cash.
“For years, we’ve set the standard of excellence in gaming. “This is a historic day of growth for our hospitality portfolio as we enter the commercial gaming industry, and we welcome the wonderful team at Gold Strike to the family,” said Mark Fulton, president and chief operating officer of Cherokee Nation Entertainment. TUNICA, Miss.-( BUSINESS WIRE)-CNE Gaming Holdings LLC, an indirect subsidiary of Cherokee Nation Businesses, officially assumed operations of Gold Strike Casino Resort after receiving approval from the Mississippi Gaming Commission.
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