Transaction Approval Secured for Monarch Casino

The owner of the Atlantis Casino Resort Spa in Nevada announced that the Colorado Limited Gaming Control Commission approved Monarch’s acquisition of Rivera Black Hawk

The owner of the Atlantis Casino Resort Spa in Nevada announced that the Colorado Limited Gaming Control Commission approved Monarch’s acquisition of Rivera Black Hawk, Inc. This is pursuant to the definitive stock purchase agreement between the two. The transaction that they have agreed on is expected to lose by the end of this month. "We are delighted to have received approval from the Colorado Limited Gaming Control Commission and look forward to completing this transaction," said John Farahi, Co-Chairman and Chief Executive Officer of Monarch. "We are excited to welcome Riviera Black Hawk to the Monarch team." Monarch has entered into a definitive stock purchase agreement in order to acquire Riviera Black Hawk Casino that was opened in 2000 and it located in Black Hawk, Colorado.

 

This is the first casino that has been encountered by those visitors that come from Denver right off the highway. It has approximately 32,000 square feet of space, 750 slot machines, 250 seat buffet style restaurant, and 8 table games. The parking structure can hold 500 vehicles. They also hold a 1.5 acre parcel right next to the building that can be used for future expansion. Monarch Casino and Resort Inc. owns and operates the Atlantic Casino Resort Spa through their subsidy Golden Road Manor Inn, Inc. This space has around 61,000 square feet of space with over 800 guest rooms, 8 food outlets, 2 pastry and espresso bars, a 30,000 square foot health spa and salon, as well as their year round enclosed pool. You thought this was a lot, they have even more. Two retail outlets that offer clothing and traditional gift items.

 

Attached is also a 8,000 square foot family entertainment center with 52,000 square feet of banquet, meeting, and convention room space. They have over 1,400 slot and video poker machines with 38 table games, a sport and race book, a poker room, and a live keno lounge. This area and casino resort has ran successfully since 1972 and still continues to stay strong while being able to grab more area and parcels like it. They are looking to expand since the previous casino, resort, and spa has fared so well with customers and guests. They want to continue providing these luxury services to the guests that visit them. This is always something that the general public can look forward too since a lot of people do not have to visit the Las Vegas area anymore to get the casino luxury that they go after.

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