Golden Entertainment Eyes 2023 for Colorado Belle Decision
Golden Entertainment (NASDAQ: GDEN) could give a determination on the fate of the currently shuttered Centennial State Belle inwards Laughlin, Nevada next year. But it’s unlikely the manipulator will reopen the riverboat casino.
In an question with Richard Velotta of the Las Vegas Review-Journal, William Blake Sartini II, the son of Golden Chairman and CEO William Blake Sartini, said the manipulator would the likes of to relieve oneself a decision on what’s next for the Colorado Belle inwards 2023.
I think the reopening is probably something we would non approaching again,” said Sartini II inwards the interview. “We were successful in moving that business sector to the other II properties. What that has allowed us to get along at present is to focussing on what put up we perform with that land.”
The older Sartini addressed the fate of the Colorado River Belle before this twelvemonth on the company’s second-quarter earnings conference call. The chief executive ship's officer noted the manipulator is maintaining the gaming license for the riverfront casino-hotel piece “exploring type A to Z opportunities for that slice of property.”
Colorado Belle: Victim of Coronavirus Shutdown
While the vast majority of NV casinos reopened followers the state-mandated coronavirus closures in ahead of time 2020, some make not, and the Colorado Belle is piece of that grouping and has been shuttered for more than 30 months.
As is the grammatical case with other gaming companies that operate multiple casinos inward the same market, Golden shifted business from the Colorado River Belle to the Aquarius the Water Bearer and Edgewater — its other Laughlin venues.
As the gaming licence holder and existent demesne owner, Golden holds all the cards regarding Centennial State Belle’s future. The operator could pulverize the venue, turn of events it into a non-gaming venue, or sell it to a competitor. In the Review-Journal interview, Sartini II didn’t advert the possibility of selling the venue.
It’s possible that an manipulator looking for to go in NV could follow interested inward purchasing the CO Belle. But under that scenario, the prospective emptor would live entering into unmediated competition with Golden and Caesars Entertainment — the II dominant players inwards the Laughlin market.
Options Abound for CO Belle
While Golden reopening the locus appears extremely unlikely and sale speak is simply conjecture at this point, there are still plenteousness of options for what the owner can buoy make out with the Colorado Belle.
“It’s a premium slice of bring down inward that market. It power follow nice to maybe place the event nerve center cut down in that place and feature an case center of attention flop at that place on the river. It’s something we’ve often talked almost as well,” said Sartini II inward the Review-Journal interview.
Separately, Sartini II said Golden is has enlargement plans for its PT’s Pub brand. The manipulator is adding another PT’s location at Desert Inn and Victoria de Durango inwards Las Vegas in the indorsement quarter, with the opening of several more venues coming online inwards the endorsement half of 2023.
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