Golden Entertainment Sells Rocky Gap Casino in MD

Trusted Online Casinos » Golden Entertainment Sells Rocky Gap Casino in MD

Las Vegas-based Golden Entertainment announced the sale of its Rocky Gap Casino Resort in Maryland this week for a whopping $260M. Despite the recent deal, it still operates nine casinos in Southern Nevada and numerous video gaming devices around 1,100 locations together with the 60 traditional taverns in Nevada.

Deals to Sell Rocky Gap

Golden Entertainment has managed to strike multiple deals to sell the Rocky Gap Casino Resort for a total of $260M. The company has been aiming to offload the property for some time now and it seems that they have finally found a buyer.

Century Casinos bought the casino operations of Rocky Gap for $56 million while VIVI Properties will have rights to  Rocky Gap’s land and buildings. The sale is still subject to regulatory approval but it is expected to go through without any issues by mid-2023.

rocky casino resort in maryland from the lake

This deal will allow the gaming company to focus on its core markets, especially Southern Nevada.

Golden Entertainment CEO’s Statement

Chairman and Chief Executive Officer of Golden Entertainment. Blake Sartini expresses confidence in the prospective buyers and the future direction of the company.

“Since Golden began operating Rocky Gap seven years ago, we have invested our resources to enhance the property’s amenities and our contributions to the State of Maryland. We are confident that Century Casinos will be a terrific operator of Rocky Gap and a strong partner to the community going forward.”

“Strategically, this transaction will enable Golden to focus on the continued success of our operations in core markets. The sale price represents an attractive, premium multiple relative to our current valuation and will provide additional financial flexibility for us to create shareholder value,” The CEO added.

Sartini also emphasized the value of Rocky Gap:

“Rocky Gap is a truly unique destination resort and I want to thank all of our team members who work hard to consistently deliver a premier gaming and entertainment experience to our guests.”

Golden Entertainment Offerings

Golden Entertainment, Inc. is a gaming company that owns and operates casinos, taverns, and distributed gaming locations in the United States. The company’s focus on customer service and hospitality is evident in all aspects of its business.

From the friendly staff at its taverns to the exciting gambling action at its casinos, Golden Entertainment strives to create a winning experience for everyone who visits one of its properties.

The gaming company also features a total of 17,600 slots, 150 table games, and 7,300 hotel rooms across different locations. The company’s casinos are known for their exciting atmospheres and for offering a wide range of gaming options.

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