- Legal States
Mike Johnson April 18, 2022 3 min read
Premier Gaming Group Sells Magnolia Bluffs Casino to a New York Company
Magnolia Bluffs Casino and Hotel, which is located in Natchez, Mississippi, has been sold to Saratoga Casino Hotel’s parent company, Saratoga Casino Holdings, which is headquartered in New York. The amount of the deal was not disclosed.
Premier Gaming Group, a Mississippi-based full-service operator and developer of gaming, entertainment and hospitality properties across the US, established the riverboat casino in 2012. It is located along the Mississippi River in Natchez. Magnolia Bluffs has roughly 500 slot machines and 14 table games and is running its own sportsbook called Playmakers. Last autumn the casino expanded and strengthened its partnership with IGT to introduce sports betting in its portfolio.
The Magnolia Bluffs hotel component comprises 141 guestrooms.
Tough Decision by Preston
Kevin Preston, who is a co-founder of Premier Gaming Group, stated that the decision was very difficult for the partnership, but the Premier Gaming Group’s team believed that Magnolia Bluffs Casino would be “in the best hands possible” as Saratoga Casino Holdings had the same passion and values for the Natchez community and Magnolia Bluffs’ team members.
Saratoga Casino Holdings owns and operates Saratoga Casino Hotel in Saratoga Springs, NY, as well as Saratoga Casino in Black Hawk, Colorado. The New York casinos and hotels chain is acquiring the casino and hotel in Natchez, Mississippi, as well as Magnolia Bluffs Casino name. Saratoga Casino Holdings will also continue with Magnolia Bluffs lease and revenue share agreement with the city of Natchez.
Sam Gerrity, chief operating officer of Saratoga Casino Holdings, promised to maintain the relationships, which Magnolia Bluffs had with its 158 employees and clients over the past 10 years of the riverboat casino’s operations. He added that Saratoga group was “looking forward to welcoming Magnolia Bluffs guests and team” to the family of the New York gaming company.
Preston also confirmed that Magnolia Bluffs’s workers would not be affected by the sale, and the players at the casino would hardly notice any difference.
Deal to Be Finalized in August or September
Per Tony Heidelberg, an attorney in Natchez and an executive at Magnolia Bluffs-owned Natchez Casino Opco LLC, stated that the deal would be finalized in August or September.
Magnolia Bluffs is the smallest casino among the 26 casinos in the state of Mississippi. The gaming space of the riverboat is only 16,032 square feet. In comparison, the Mississippi’s largest casino is Island View, whose gaming space measures 117,500 square feet. In addition, Magnolia Bluffs generates the smallest gross gaming revenue in the state. Mississippi’s gaming industry registered a gross gaming revenue amounting to $2.7 billion in 2021 despite the COVID-19 pandemic.