We are looking forward to the new opportunities for providing a world-class experience to all of our patrons and continue leading the industry in our region.ĬBRE Securities served as exclusive strategic and financial advisor to Cherokee Nation Businesses in connection with the transaction. Our plan is to build on that and exceed those high expectations every day, said Max Fisher, general manager of Gold Strike. Patrons of Gold Strike have become accustomed to the excitement and southern hospitality they receive when they walk through our doors. Current and future guest reservations at the Gold Strike property are being honored. The property has also implemented the One Star Rewards loyalty program that enables casino patrons to earn rewards and enjoy the benefits of the company's 10 gaming destinations. Gold Strike Casino Resort will continue to offer longtime dining staples like Chicago Steakhouse, Buffet Americana and Sweet Tea, as well as more than 1,100 luxury guest rooms, a theater, high-limit gaming and a sportsbook. 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. In 2009, the resort underwent another multimillion-dollar renovation during which time the property remained opened.TUNICA, Miss: 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. The Gold Strike's 31-story hotel tower was the tallest building in the state of Mississippi at the time of its opening, providing stark contrast to an area of the state previously devoted mostly to agriculture. The total cost for the remodel was estimated to be $125 million. The casino was rebranded as the Gold Strike Casino Resort and given a more upscale theme. Due to a 50% decline in operating income in 1997, Circus Circus began to renovate the property, adding a 1,200-room tower hotel and other features including a theater. The building, resembling a circus tent, did not house a hotel. Gold Strike was originally opened by Circus Circus Enterprises as Circus Circus Tunica on August 29, 1994.

When built, the gold tower was reported to be the tallest building in Mississippi. At 31 stories tall, Gold Strike Casino Resort is one of the most recognizable buildings in Tunica and towers above all other structures.

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