The parent company of Strat, the Arizona Charlie’s and PT’s chain of neighborhood pubs, received regulatory approval Thursday for a series of licenses that will move the company from being publicly traded to a private company.
In a unanimous vote, the Nevada Gaming Commission approved the Nevada Gaming Control Board’s recommendation that will ultimately lead to the delisting of Golden Entertainment Inc. from the Nasdaq stock exchange.
Chief Executive Officer Blake Sartini told commissioners Thursday that the same staff who operate Golden properties in Nevada would now be retained in the new privately held company. In principle, Golden customers are expected to see no change in the operation of the company’s properties.
Golden, in its final days as a public company traded on the Nasdaq exchange, is partnering with Vici Properties Inc., a real estate investment trust that serves as the landlord of the land under the properties and collects rent through a master agreement. Sartini explained that the partnership agreement allows Golden to keep rental payments constant.
Strat, the centerpiece of Golden’s Southern Nevada properties, is approaching its 30th anniversary next week.
In other business Thursday, the commission unanimously approved several items as a consent agenda, meaning there was no detailed discussion or debate on licensing decisions.
Among the unanimous approvals from the commission was the approval of two new locations for the fastest growing sportsbook in Southern Nevada, Boomer’s.
The company was licensed to operate a sports book at Sierra Sid’s in Sparks and at The Pass on Water Street in Henderson.
Boomer CEO Joe Asher said the new locations are the 11th and 12th books under the Boomer banner.
Asher said he hopes to have 18 partnerships in place by the start of the next football season.
In another no-discussion consent, the commission approved a one-day gaming license to preserve the license for the Moulin Rouge.
United Coin Machine, doing business as Century Gaming Technologies, was recommended for slot machine licensing only at the Moulin Rouge at 840 W. Bonanza Road.
Temporary casino setups with slot machines inside trailers are a common way to maintain a gaming license in the state. Nevada law requires unlimited gambling to operate on the site at least one day every two years to maintain its grandfathered gaming license.
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