![]() ![]() ![]() The building, resembling a circus tent, did not house a hotel.ĭue to a 50% decline in operating income in 1997, Circus Circus began to renovate the property, adding a 1,200-room tower hotel and other features including a theater. The casino was originally opened by Circus Circus Enterprises (later Mandalay Resort Group) as Circus Circus Tunica on August 29, 1994. When built, the gold tower was reported to be the tallest building in Mississippi. The resort also includes Chicago Steakhouse restaurant, which has won several awards including the Wine Spectator Award of Excellence a spa and salon the 800-seat Millennium Theater and 50,000 square feet (4,600 m 2) of gaming space with 52 table games and more than 1,400 slot machines.Īt 31 stories tall, Gold Strike Casino Resort is one of the most recognizable buildings in Tunica and towers above all other structures. The upgrade, which took two years to complete and is the largest in the casino resort's history, included all of Gold Strike's 1,133 oversized rooms and 125 suites, the conference and convention center, the Atrium Café, the Courtyard Buffet and the high-limit gaming and lobby areas. In 2008, MGM Mirage made a large investment in Gold Strike Casino Resort and a commitment to the Tunica market with a multimillion-dollar renovation and remodeling project. It is owned by Vici Properties and operated by Cherokee Nation Businesses. Gold Strike Tunica (formerly Circus Circus Tunica) is a casino hotel in Tunica Resorts, Mississippi, 20 minutes south of Memphis, Tennessee. JSTOR ( January 2015) ( Learn how and when to remove this template message).Unsourced material may be challenged and removed.įind sources: "Gold Strike Tunica" – news Please help improve this article by adding citations to reliable sources. In December 2022, MGM Resorts International announced it would invest $2 billion in its Chinese subsidiary as a result of the Macau concession’s extension.This article needs additional citations for verification. In April 2022, MGM Resorts added Aristocrat’s Buffalo Zone game to Beau Rivage casino’s offering. It provides a full range of hotel, dining, and entertainment services, including non-stop casino options. MGM Resorts decided to sell the Mississippi property as a means of narrowing its focus in the region to just one resort, Beau Rivage Resort & Casino. The company also decided to dedicate more time and resources to driving the success of this world-class property.īeau Rivage is a waterfront casino resort located in Biloxi and it is owned by Vici Properties. The list includes the Hard Rock Hotel & Casino Tulsa, three resort hotels, three golf courses, a horse-racing track, and a series of additional retail operations.įor the year ended December 31, 2022, the Gold Strike property recorded $47 million in net income and $98 million in Adjusted Property Earnings Before Interest, Taxes, Depreciation, Amortization, and Restructuring or Rent Costs.Ĭherokee National plans on further expanding its gaming and hospitality businesses while putting its strategic plans of growth into action. The new acquisition is expected to contribute to the growth of the Cherokee Nation’s economy while also attracting positive changes in the local economies. Cherokee Nation Entertainment to Own 11 CasinosĪs a result of the newly sealed deal, Cherokee Nation Entertainment will operate and own 11 casinos. This will be done in order to account for the fresh sale of the Gold Strike operations. MGM Resorts anticipates obtaining net cash proceeds after taxes and fees estimated to be $350 million. MGM Resorts International’s president and chief executive officer Bill Hornbuckle called Gold Strike Hotel & Casino in Tunica “an iconic property in Mississippi,” with employees representative of southern hospitality at its finest. Hornbuckle also wished Gold Strike a bright and lucrative future ahead while speaking about their plans for the new proceeds.Īs explained by the treasurer and chief financial officer Jonathan Halkyard, MGM Resorts plans to use the money to strengthen its balance sheet, use more capital to enjoy more growth and return more capital to its shareholders.Īt the closing time of the transaction, the company’s master lease with VICI Properties, Inc., which also comprises Gold Strike, will be changed to cut the annual rent by $40 million. The NYSE-listed Standard and Poor’s 500 international entertainment company has inked the transaction for $450 million in cash received from the Cherokee Nation Businesses’ subsidiary. The company with an impressive portfolio consisting of 31 global hotel and gaming destinations used Weil, Gotshal & Manges LLP as a legal counsel to complete the sale. ![]()
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