Nevada Gold Expands Casino Offerings Into Washington

This is not a good time to be in the casino gambling industry. In many states, casinos are having their revenue figures drop from previous years, thanks to the current recession. Some companies, however, are seeing this as an opportunity to expand.

Nevada Gold & Casinos Inc., has reached a deal to acquire three casinos in Washington. The casinos are currently owned by three local investors, and the price tag for the acquisitions is $15.75 million.

"We are very excited about this acquisition and the potential market opportunity," said CEO of Nevada Gold, Robert Sturges, "Importantly, we anticipate that management is staying intact and we are looking forward to working with each facility to make improvements to drive future growth and profitability."

The deal is still contingent on a couple of details. Licensing and leasing issues need to be worked out before the closing can take place. Once complete, Nevada Gold can begin to collect on the over $3 million in cash flow the casinos are currently receiving annually.

Coyote Bob's Roadhouse Casino, and two Crazy Moose casinos in Mountlake Terrace and Pasco, are the three casinos that Nevada will soon be operating. They offer the usual assortment of table card games, including poker and blackjack.

March 13, 2009
Posted By April Gardner
Staff Editor, CasinoGamblingWeb.com
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