MGM closes sale of Gold Strike hotel and casino

MGM Resorts International has closed on the sale of Gold Strike Hotel and Gambling Hall in Jean, Nevada, to JETT Gaming and Jean Ventures. The terms of the sale were not disclosed. 

MGM Resorts previously announced in October that a definitive agreement had been reached with JETT Gaming LLC and Jean Ventures, LLC for the purchase and sale of Gold Strike Hotel and Gambling Hall and its related assets. JETT Gaming was approved on April 23 by the Nevada Gaming Commission to operate the property. 

The transaction was the second sale of a small casino by MGM Resorts last year. In September the company sold the Railroad Pass Casino in Henderson.

MGM Resorts chief financial officer Dan D’Arrigo has said that the transaction was part of the company’s plan “to review and refine our portfolio of properties, and focus on new developments in international and regional markets.”

MGM Resorts purchased the property in 2005 as part of its acquisition of Mandalay Resort Group.

 

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