Golden Entertainment to Use Oak Tree Proceeds to Boost Properties

Golden Entertainment Inc was cleared to sell its slots business to Oak Tree last week with the Nevada Gaming Commission giving its approval and go-ahead for the deal to proceed. Officially, the acquisition is carried out by J&J Ventures and backed by Oak Tree.

Ploughing the Proceeds Back into Improving Existing Business

The proceeds from the deal will go into overhauling various operations, after the company announced changes to Gold Town’s dining options earlier this year, including a Farmhouse Kitchen, which is locally sourced and highly cherished dining expeirence.

Golden Entertainment is on a good business footing, as it will continue to support the gaming operations of Golden’s branded tavern locations in Nevada for J&J Ventures, indicative of the high level of trust voted to the company by the acquiring entity.

Meanwhile, other proceeds from the deal will be ploughed into improving some of the company’s casinos and operations, including Arizona Charlie’s, Strat, and gaming properties near Laughlin.

This will begin with the improvement of gaming operations in Pahrump, apart from the introduction of additional dining options. Many excellent venues could use the funding to become more competitive and continue driving more traffic towards themselves.

For example, Pahrump is located only 58 miles from the Las Vegas Strip and is enjoying a good amount of footfall, especially by travelers who baulk at the idea of plunging into the heart of the rowdy gaming heartland of Nevada.

Rather, Pahrump offers a little more relaxed but equally entertaining expeirence that Golden Entertainment is hoping to capitalize on. This sentiment is reflected in the company’s ownership of several prominent properties in which it operates, among which are Lakeside Hotel & Casino, Pahrump Nugget Hotel & Casino, and not least Gold Town Casino.

Sustained Interest in Pahrump Gaming and Resort Experiences

Pahrump may have a small population of only 40,000 people. Still, it’s right next to Death Valley National Park and Spring Mountains, which means that tourists are not really a rare sight. The area’s gaming reputation has been solidly edging upward, not least owing to Golden Entertainment’s sustained and long-term efforts to differentiate it.

Golden Entertainment has confirmed that it will seek to improve its Arizona Charlie’s casinos as well as the Laughlin properties and look to further boost shareholder value by driving solid returns.