![]() 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. The Cherokee Nation and it’s businesses employ 11,000 people.This article needs additional citations for verification. THPT Comment: A good deal for both parties. Price per Key: $358k to include the casino and entertainment space Weil, Gotshal & Manges LLP served as legal counsel to MGM Resorts.Ĭherokee Nation owns and operates Hard Rock Hotel & Casino Tulsa and nine Cherokee Casinos, including a horse racing track, three resort hotels, three golf courses and other retail operations. The transaction is expected to close in the first half of 2023, subject to regulatory approvals and other customary closing conditions. ![]() When it was built the gold tower was reported to be the tallest building in Mississippi. At 32 stories tall, the iconic property is one of the most recognisable buildings in Tunica and towers above all other structures. Gold Strike opened in 1994 and was acquired by MGM Resorts in 2005. “We appreciate VICI, as the real estate owner of Gold Strike, working constructively with CNE to facilitate a new lease agreement.” “This is a great outcome for the Company as we are able to reprioritize future capital expenditures toward opportunities that will enhance the customer experience at our other locations,” said Jonathan Halkyard, CFO & Treasurer, MGM Resorts International. The Company expects net cash proceeds after taxes and estimated fees to be approximately $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 $40 million. Pre-pandemic, Gold Strike reported Adjusted Property EBITDAR of $67 million in 2019. Strategically, though, we decided to narrow our focus in Mississippi to a single resort – Beau Rivage – and dedicate more of our time and resources towards continuing to drive success at that leading, world-class resort and casino.”įor the twelve months ended December 31, 2021, Gold Strike reported net income of $81.1 million and Adjusted Property EBITDAR of $115 million, reflecting benefits from certain market specific factors in the last year. “Gold Strike is a wonderful property with a bright future ahead. “I want to thank all of our Gold Strike employees who have consistently delivered world-class gaming and entertainment experiences to our guests,” said Bill Hornbuckle, CEO & President, MGM Resorts International. MGM Resorts International announced that it has reached an agreement to sell the operations of Gold Strike Tunica to Cherokee Nation Entertainment Gaming Holdings, LLC, for $450 million in cash, subject to customary adjustments. Seller: MGM Resorts International, whose portfolio encompasses 33 hotel and gaming destinations globally, including those under brands such as Bellagio, Aria, Delano and Mandalay Bayīuyer: Cherokee Nation Entertainment Gaming Holdings, LLC, owners of Hard Rock Hotels & Resorts Location: Tunica Resorts, 20 minutes south of Memphis, MS, USA Main Photo: Golf at Tunica – several courses to choose from
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