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.
Gambling News from NewsCasinoNew.com is made for the most passionate fans of online casinos and internet gambling. We cover everything: from popular gambling world events and trends to new casino slot game releases and reviews, you will find the latest news stories.
