![]() ![]() ![]() “We plan to use the proceeds from this transaction to further fortify our balance sheet, deploy capital to growth opportunities, and return capital to shareholders,” noted Jonathan Halkyard, CFO & Treasurer of MGM Resorts International.įurthermore, in connection with the purchase, CNB will also enter into a triple-net lease agreement with the aforementioned real-estate investment trust in relation to Gold Strike. “I wish Gold Strike well, and firmly believe a bright future is ahead for this property.”įor the year ending December 31, 2022, Gold Strike reported net income of $47m and adjusted property EBITDAR of $98m. “Gold Strike is an iconic property in Mississippi, and the employees there represent southern hospitality at its finest,” said Bill Hornbuckle, CEO & President of MGM Resorts International. MGM Resorts International has finalised the sale of Mississippi’s Gold Strike Tunica to CNE Gaming, a subsidiary of Cherokee Nation Businesses, for $450m in cash.Īt the close of the transaction, which would see the operator net approximately $350m in proceeds after taxes and fees, MGM will see a master lease with Vici Properties be reduced by approximately $40m.
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