Las Vegas-based gaming distributor and casino conglomerate Golden Entertainment is adding to its holdings, the company announced on Monday. Stratosphere owner American Casino and Entertainment is being snapped up by Golden for an $850 million price tag, which includes $781 million on the dining table in cash, plus four million stocks of the new owner’s shares right back to the seller.
The Stratosphere has an owner that is new after Golden Entertainment bought the property along with three other resorts for $850 million in money and stock.
After the deal is completed, Golden Entertainment will own eight casino resorts in total, with the best-known coming into the sale through the Stratosphere, which stands 1,149 legs high at the far north end of the nevada Strip.
Created in Taverns and Supermarkets
The business’s other gaming properties have been in Pahrump, Nevada and Flintstone, Maryland. Also in Golden’s pre-existing portfolio are PT’s Entertainment Group and its more than 50 Nevada-based taverns with gaming, along with the profitable lock on one of the gaming device distribution companies that are largest in the united states, which brings slot machines to nearly 1,000 supermarkets in Nevada and Montana.
Upon completion of the transaction, Golden Entertainment will operate 15,800 slots, 114 dining table games, and over 5,100 hotel spaces in Nevada. Traded o