Las Vegas-based gaming distributor and casino conglomerate Golden Entertainment is adding to its holdings, the company announced on Monday. Stratosphere owner American Casino and Entertainment is being snapped up by Golden for an $850 million cost, which includes $781 million on the dining table in money, plus four million shares of the new owner’s stocks right back to the seller.
The Stratosphere has an owner that is new after Golden Entertainment purchased the home along side three other resorts for $850 million in cash and stock.
Once the deal is completed, Golden Entertainment will own eight casino resorts in total, with the best-known coming in the sale through the Stratosphere, which stands 1,149 legs high during the north that is far of the Las Vegas Strip.
Created in Taverns and Supermarkets
The company’s other gaming properties have been in Pahrump, Nevada and Flintstone, Maryland. Also in Golden’s pre-existing portfolio are PT’s Entertainment Group and its more than 50 Nevada-based taverns with gaming, plus the profitable lock on one of the largest gaming device distribution businesses in the US, which brings slot devices to very nearly 1,000 supermarkets in Nevada and Montana.