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Best of Howard Stutz

Gaming Guru

Howard Stutz
 

Nevada Gold's purchase of Club Fortune passes first step

6 November 2015

The Nevada Gaming Control Board granted a preliminary approval to Nevada Gold's purchase of the Club Fortune Casino in Henderson.

The deal was announced in May in which Nevada Gold bought the small casino for $14.2 million in cash and 1.2 million shares of Nevada Gold's company stock. Nevada Gold CEO Michael Shaunnessy said previously that Club Fortune owner Carl Giudici would remain with the property as a consultant and shareholder.

The matter needs final approval from the Nevada Gaming Commission on Nov. 19.

The transaction gives Las Vegas-based Nevada Gold its first casino in the state. The company operates nine casinos in Washington and a slot machine route operation in Deadwood, South Dakota.

Club Fortune has a 25,000-square-foot casino with 500 slot machines and 12 table games, including a poker room. The property at 725 S. Racetrack Road in Henderson also has a restaurant, two bars, an entertainment lounge, snack bar and gift shop.
Nevada Gold's purchase of Club Fortune passes first step is republished from CasinoVendors.com.