NIESR working on a study on gaming hazard
Opening in 1994, Gold Strike was bought by MGM Resorts in 2005. Gold Strike Tunica boasts a casino, sportsbook, hotel, stores, many nightclubs and many restaurants.

Gold Strike reported adjusted property earnings before interest, tax, depreciation, amortisation and rent (EBITDAR) of $115m and net income of $81m for the twelve months ended 31 December 2021.

Subject to government clearances and other usual closing requirements, the transaction is scheduled to close in the first half of 2023.

Should the acquisition go through as planned, MGM Resorts' master lease agreement with Vici Properties—which now comprises Gold Strike—will be changed to cut yearly rent by $40 million. 

MGM also said that it projected net cash gains from the deal to be roughly $350 million and that after taxes and expected expenses.

"I want to thank all of our Gold Strike employees who have routinely provided our guests with world-class gaming and entertainment experiences," MGM Resorts International chief executive and president Bill Hornbuckle said.  

"Gold Strike is a great house with a promising future. Strategically, though, we decided to concentrate only on Beau Rivage, a single property in Mississippi, and commit more of our time and money to keep success at that top, world-class resort and casino under constant push.

Chief executive Chuck Garrett of Cherokee Nation Businesses said: "We are excited about the opportunity to grow our gaming and hospitality businesses as we execute on our strategic growth plan to expand our presence outside of the Cherokee Nation Reservation."

Vici also agreed to sign a new separate agreement with Cherokee Nation Businesses pertaining to Gold Strike operations. While other economic aspects would basically be the same as the MGM Master Lease, including a base period of 25 years with three 10-year tenant renewal options, this lease would have an initial annual base rate of $40 million.

"This transaction continues to demonstrate Vici's ability to build strong relationships with new partners while working cooperatively with existing tenants to support their strategic objectives," Vici president and chief executive John Payne said.

"We welcome Cherokee Nation Businesses as our ninth gaming tenant and look forward a long-term relationship as they seek future expansion projects.”