Prior to the onset of the pandemic in 2019, Gold Strike reported adjusted earnings of $67 million. In the 2021 calendar year, Gold Strike reported $81.1 million in net income with adjusted earnings of $115 million, a reflection of specific market factors last year. Gold Strike Tunica features a 32-story hotel tower with roughly 1,100 rooms, a conference and convention center, dining area, and 50,000-square-foot casino. “We are excited for the team at Gold Strike Tunica to join the CNE family.”
“Cherokee Nation Entertainment has a rich history of operating award-winning hospitality destinations in Oklahoma, and we are proud to continue our growth in gaming and bring the level of excellence we are known for to the Tunica area,” Mark Fulton, president of Cherokee Nation Entertainment, said in a statement. The deal, which is subject to regulatory approval, is expected to close in the first half of 2023. Under the agreement, Cherokee Nation Entertainment Gaming Holdings LLC will enter into a long-term lease agreement with VICI Properties Inc., a real estate investment trust that owns the real estate. A subsidiary of Cherokee Nation Businesses will pay $450 million to purchase the Tunica, Miss.-based Gold Strike Casino Resort from operator MGM Resorts International, the company announced Thursday.
