Golden Gaming OKs deal to manage four casinos

10 September 2010

By Howard Stutz

LAS VEGAS, Nevada -- Golden Gaming Group's slot machine route operation division has signed an agreement to manage four casinos for the Siegel Group, including the Gold Spike downtown.

The change from United Coin Machine to Golden Gaming signals a more aggressive approach to casino operations, said Siegel Group founder Stephen Siegel. The company plans to start a customer loyalty/player rewards program and is looking to increase its gaming foothold.

"We were looking for a partner with the same vision we have," Siegel said. "We're currently looking at other properties for expansion."

Siegel's four properties now house about 460 slot machines, including more than 200 games at the Gold Spike along with four table games. He said the Siegel Slots & Suites near Nellis Air Force Base has about 215 slot machines and he expects Golden Gaming to add table games to the property.

The Siegel Group has some 4,000 residential units through its apartments and extended stay properties which Stephen Siegel says is an untapped customer resource. By creating a customer loyalty program, he said the gaming options can be highlighted.

"We're going to be able to give our casino customers the things we haven't been able to give them before," Siegel said.

The company also owns the recently remodeled Rumor on Harmon Avenue -- formerly the St. Tropez -- and the Resort on Mount Charleston. Each of those properties have just nine slot machines.

Golden Gaming operates three divisions, including a casino group with three casinos in Black Hawk, Colo., and one in Pahrump, and Nevada's largest tavern operation with more than 40 restaurants.

The company's slot machine route operation, the third largest in the state, has more than 2,500 machines in more than 200 locations throughout Nevada.

Golden Gaming expects to employ about 100 workers to operate the Siegel-owned casinos.