A change of ownership for a Tunica casino becomes official with approval from the Mississippi Gaming Commission.
Cherokee Nation Entertainment (CNE) Gaming Holdings LLC has officially assumed operations of Gold Strike Casino Resort.
“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. “For years, we’ve set the standard of excellence in gaming. We are excited to invest in this beautiful property and bring our three decades of industry experience to guests in the Mid-South market.”
CNE Gaming Holdings LLC bought the operating company from Mandalay Resort Group LLC, a subsidiary of MGM Resorts International for approximately $450 million in cash.
Concurrent with the purchase, the operating entity entered into a long-term lease agreement with GSCR Propco LLC, a subsidiary of VICI Properties Inc., which owns the real property associated with Gold Strike Casino Resort.
Operations will continue as usual, and all employees dedicated to the casino were retained.
“This acquisition is a natural evolution for our company,” said Chuck Garrett, president and chief executive officer of Cherokee Nation Businesses. “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.”
Current and future guest reservations are being honored and the Gold Strike Casino will continue to offer its longtime dinner staples.
“Patrons of Gold Strike have become accustomed to the excitement and southern hospitality they receive when they walk through our doors,” said Gold Strike general manager Max Fisher. “Our plan is to build on that and exceed those high expectations every day.”
