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Barrick Gaming Buying Golden Nugget

10 November 2004

LAS VEGAS – As reported by the Associated Press: "Barrick Gaming Corp. said Wednesday it is buying the Golden Nugget Laughlin for $31 million from the Poster Financial Group Inc., the latest deal in the rapidly consolidating gambling industry.

"Barrick president Stephen Crystal called the acquisition an opportunity to expand his company's growing casino portfolio. Earlier this year, the Las Vegas-based company bought the Plaza, Las Vegas Club, Western and Gold Spike for about $82 million. Barrick also acquired the downtown Queen of Hearts and Nevada hotel-casinos in October.

"Poster Financial Group president and chief executive Tim Poster said the sale would allow his company to focus on its primary asset, the Golden Nugget Las Vegas, which is located on the Las Vegas strip and is the largest hotel-casino downtown with 1,907 guest rooms…"

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