Sartini continues expansion

December 04, 2007 6:54 AM
by

share

Look out Harrah’s and MGM Mirage, Golden Gaming is expanding its portfolio.

The Las Vegas-based operator of a Nevada slot route and dozens of gaming pubs and taverns announced last week it had entered into an agreement to acquire the Saddle West Hotel, Casino & RV Resort in Pahrump.

The Saddle West may not be among the mega-resorts on the Las Vegas Strip, but it will be the second Pahrump hotel/casino to land on Golden’s balance sheet.

Moreover, Golden Gaming recently submitted a proposal to build a new casino resort in Kansas, which is poised to approve casino-style gaming.

"We are pleased with the opportunity to acquire the Saddle West Hotel, Casino & RV Resort, which will be a great addition to our gaming portfolio," said Blake L. Sartini, president and CEO of Golden Gaming. "We are bullish on the long term growth prospects for the Pahrump market, and this acquisition further displays our commitment to growing with the community. We look forward to providing superior service and atmosphere to compliment all of the great amenities Saddle West Hotel, Casino & RV Resort has to offer to our valued guests."

Saddle West is located in the heart of Pahrump right off the intersection of Route 372 and Highway 160. The property features 155 guest rooms, more than 350 gaming machines and table games, an exclusive players club as well as an 80-space RV resort.

Additional amenities include catering and banquet space, bingo, an all-you-can-eat buffet, live entertainment and annual events including several golf tournaments and Pahrump’s Wild West Extravaganza.

Golden Gaming first entered the Pahrump market when it acquired the Pahrump Nugget Hotel & Gambling Hall in November 2006, making Golden Gaming one of the largest employers in Nye County. Including the Saddle West property, Golden Gaming will employ more than 500 team members throughout Nye County.

"We’re excited to reach an agreement with Mr. Sartini and the quality team at Golden Gaming Inc. We’re confident Saddle West Hotel, Casino & RV Resort will continue to be developed and thrive in conjunction with the community in Pahrump," said Anthony Marnell III, chairman of Marnell Sher Gaming, LLC.

Upon licensing and regulatory approvals, the acquisition of Saddle West Hotel, Casino & RV Resort will to become the fifth casino in the Golden Casino Group. Other properties include the Pahrump Nugget Hotel & Gambling Hall, Mardi Gras Casino, Golden Gates Casino and Golden Gulch Casino located in Black Hawk, Colorado.

The Golden Casino Group’s Colorado properties currently feature more than 1,100 slot and video poker machines, more than 10 blackjack tables and Colorado’s finest poker parlor featuring 14 live poker tables, four restaurants, three bars and a 750 space parking garage.

Golden Gaming also manages casino operations for the Hard Rock Hotel & Casino in Las Vegas; its Golden Tavern Group (PT’s Pub, PT’s Gold, Sierra Gold) is Nevada’s largest tavern operator with 45 establishments; and its Golden Route Operations is Nevada’s third largest slot route operator with more than 2,500 machines in more than 200 locations throughout the state.