Nev. Gaming Comm. OKs Golden Ent.'s acquisition of ACEP

Oct 21, 2017 8:44 AM

The Nevada Gaming Commission, in a unanimous vote Thursday, has approved Golden Entertainment’s $850 million acquisition of the American Casino & Entertainment Properties (ACEP), which includes the Stratosphere, the two Las Vegas Arizona Charlie’s properties and the Aquarius in Laughlin.

The deal is expected to close shortly.

Golden is operator of the PT’s Pub tavern chain in Southern Nevada in addition to operating the state’s largest slot route network and three casinos in Pahrump. The company also runs Montana’s largest slot route and a casino in Flintstone, Maryland.

The company, under the aegis of longtime Las Vegas casino executive Blake Sartini, is likely to double its revenue and triple its cash flow with the acquisition. Industry observers believe all Golden’s sports book operations will eventually be linked, thus becoming a major player in Southern Nevada and possibly nationwide, if the current ban on legal sports wagering in other states is lifted.