102°F
weather icon Clear

Pahrump casinos could see re-investment from gaming deal, execs say

Golden Entertainment Inc. plans to use proceeds of a multi-million dollar gaming deal to enhance its commercial gaming operations in Pahrump, according to Blake Sartini II, executive vice president of operations for Golden and son of its CEO Blake Sartini.

Plans for investment in the local properties are still unclear.

Golden Entertainment owns Gold Town Casino, Lakeside Hotel & Casino and Pahrump Nugget Hotel & Casino.

Earlier this year, Gold Town unveiled a handful of new dining options at its casino on Highway 160, including Mister Tater’s and the Farmhouse Kitchen, a locally sourced dining experience.

The Nugget also debuted a Jimmy John’s in Pahrump this year.

A look at the deal

Before the Christmas holiday, the state gaming commission approved the sale and licensing of an Illinois company to take over the distributive gaming assets of Golden Entertainment that would make it the largest slot route operator in the country.

In a unanimous vote, commissioners approved licensing for Oak Tree Capital Management, the parent company of J&J Ventures Gaming, Effingham, Illinois, which will oversee 25,000 slot machines at 3,500 locations in five states.

Distributed gaming involves slot machine routes on which workers install, maintain and operate slot machines at bars, taverns, restaurants, grocery stores and convenience markets.

In March, Golden Entertainment, operators of the PT’s Pubs chain of taverns in Nevada, announced plans to sell its slot routes in Nevada and Montana to J&J for $213.5 million plus an estimated $34 million of purchased cash for the Nevada route and $109 million plus an estimated $5 million of purchased cash in Montana. The purchased cash is the amount inside the machines on the route.

At the time of the announcement, Golden also said it had entered a five-year agreement with J&J to support the gaming operations of Golden’s branded tavern locations in Nevada at financial terms consistent with the company’s past practice.

Golden Entertainment executives told state gaming regulators that in addition to investing in Pahrump, they’d also use some of the proceeds from the deal to revamp other casinos, including the Strat, Arizona Charlie’s and gaming properties in Laughlin.

THE LATEST
Election Day 2024: What to know

Tuesday marks voters’ last chance to cast their ballot in Nevada’s primary election.

EDITORIAL: A retail theft conspiracy?

Many on the left accuse greedy capitalists at major outlets of exaggerating the problem to cover up mismanagement.

Dutch visitor dies while driving in Death Valley

The approximately 70-year-old man and his wife were visiting from Holland. The man went unconscious while driving on Artist’s Drive. His wife stopped the vehicle safely and moved her husband to the back seat.

Tram tower vandal comes forward

The individual responsible for pulling over the 113-year-old salt tram in Death Valley National Park called the tip line, stating that this was done during a time of desperation while being deeply stuck in mud, and that it wasn’t their intent to cause harm to the historic structure.

Historic Saline Valley salt tram tower pulled down

DEATH VALLEY, Calif. – The National Park Service is seeking information about recent damage to a historic salt tram tower in Saline Valley. It appears the 113-year-old tower was pulled over while a person used a winch to extract their vehicle out of deep mud. The damage happened sometime between April 1 and April 24.

 
Need a Real ID? Time is running out to get one in Nevada

To meet federal requirements, Real IDs will be needed for anyone looking to use their driver’s license to get through security at airports for domestic flights nationwide.

Circus coming to Pahrump

The Kiwanis Club of Pahrump Valley is sponsoring the Hugo, Oklahoma-based Culpepper and Merriweather Great Combined Circus which is coming to Pahrump at Petrack Park on Saturday, May 4 and Sunday, May 5. There will be two 90-minute shows each day at 2 p.m. and 4:30 p.m., with a free tent-raising and behind-the-scenes tour starting at 9:30 a.m. on Saturday.

Devils Hole pupfish population at 25-year high

The spring count of the Devils Hole pupfish, one of the world’s rarest fishes, showed that the population is at its highest since the spring count taken in 1999.

Sportsman’s Quest: You always remember the firsts

While looking through my old picture albums I noticed many of the pictures, and the ones I enjoy most, are of firsts – pictures of my first deer, first bear, first sheep, and first salmon. Perhaps this shouldn’t be surprising, as our memories of first events are often most vivid, and we have a special feeling for other firsts as well.