![]() ![]() The company expects net cash proceeds after taxes and estimated fees to be approximately USD 350 million. At the closing of the transaction, MGM Resorts’ master lease agreement with VICI Properties Inc., which currently includes Gold Strike, will be amended to reduce annual rent by USD 40 million. Pre-pandemic, Gold Strike informed Adjusted Property EBITDAR of USD 67 million in 2019. Global entertainment operator MGM Resorts International communicated that it has reached an agreement to vend the business of Gold Strike Tunica to Cherokee Nation Entertainment Gaming Holdings, LLC, a subsidiary of Cherokee Nation Businesses, for USD 450 million in cash, subject to customary adjustments.įor the twelve months ended December 31 st, 2021, Gold Strike reported net income of USD 81.1 million and Adjusted Property EBITDAR of USD 115 million, reflecting benefits from certain market specific factors in the last year. At 32 stories tall, the iconic property is one of the most recognizable buildings in Tunica, Mississippi. Gold Strike opened in 1994 and was acquired by MGM Resorts in 2005.
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