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Announced

Completed

Cherokee Nation Entertainment Gaming completed the acquisition of Gold Strike Tunica from MGM Resorts International for $450m.

Financials

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Transaction Value£362m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA3.91x
Share Price Premium-
One Off Charge-

Tags

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Acquisition

United States

Casinos and Gambling

Friendly

Domestic

Single Bidder

Private

Majority

casino hotels

Real Estate

Completed

Synopsis

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Cherokee Nation Entertainment Gaming, a gaming and hospitality company, completed the acquisition of Gold Strike Tunica, a casino hotel, from MGM Resorts International, a global entertainment company, for $450m. "I want to thank all of our Gold Strike employees who have consistently delivered world-class gaming and entertainment experiences to our guests. Gold Strike is a wonderful property with a bright future ahead. 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," Bill Hornbuckle, MGM Resorts International CEO and President.

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