Laughlin Buzz

Aug 12, 2018

Laughlin Gaming Revenue Down for June 2018

Laughlin, NV
 

Laughlin gaming revenue numbers were down by 1.87% for June of 2018, compared to the same period last year.

However, overall for the fiscal year to date Laughlin is still up 4.34%. 

Source: https://gaming.nv.gov/modules/showdocument.aspx?documentid=13543


Laughlin  
June 2018   $36,356,162
June 2017   $37,048,292
-1.87%   



The gaming win percentage broken down by area shows Nevada statewide was up 4.17%, led by an increase of +5.36% on the Las Vegas Strip.

Statewide (NV)               +4.17%

Las Vegas Strip               +5.36% 

Downtown Las Vegas     -4.41% 

North Las Vegas             -4.02% 

Laughlin                        -1.87% 

Boulder Strip                  +3.67%

Mesquite                        +10.34%

Clark County                  +3.45%


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Aug 9, 2018

Laughlin Town Advisory Board Meeting - August 14, 2018

Laughlin Town Advisory Board Meeting

August 14, 2018
1:30 p.m.

AGENDA can be viewed/downloaded at
http://www.clarkcountynv.gov/administrative-services/laughlin/Documents/LTAB%20agenda%2008142018.pdf

Location:

Laughlin Regional Government Center
101 Civic Way,  Laughlin, NV 89029


 Board Members:                    James Maniaci, Chair
                                               Kathy Ochs, Vice Chair
                                               Stephanie Bethards
                                               Gina Mackey
                                                 
Secretary:                              Tammy Harris  Tammy.Harris@ClarkCountyNV.gov                                                 
                                               Phone (702) 298-0828, Fax (702) 298-6132


Commissioner:                       District A- Steve Sisolak

County Liaison:                      Dr. Brian Paulson, bkp@ClarkCountyNV.gov  
                                               Phone (702) 298-0828, Fax (702) 298-6132






Limited Quantity Available

Aug 5, 2018

Gaming Coming Back to Pioneer Casino


Laughlin, NV


Pioneer Hotel & Gambling Hall to Resume Gaming

(*pending license approval)

The August 8, 2018 9:00 am Nevada Gaming Control Board agenda
shows activity indicating gaming is poised to return to the Pioneer
Hotel & Gambling Hall in Laughlin, NV.

Gaming has been interrupted since the new owners, The New Pioneer LLC, took
over as of May 1, 2018.   See our article about gaming being closed.

Intrepid Gaming, LLC with Jon David Berkley has applied for licensing to do
business as Pioneer Hotel & Gambling Hall.

Provided the applications are approved by the Nevada Gaming Control Board it
will then go to the Nevada Gaming Commission for final approval at their next
meeting in mid August.  If approved by the commission, gaming will be clear to resume.

We are hearing gaming will start just in time for the Labor Day Weekend, on August 31st.  (subject to approvals and an official, not yet made announcement by the company)









The Nevada Gaming Control Board link and source of the license application is below and contains this information:

INTREPID PIONEER, LLC, dba
PIONEER HOTEL & GAMBLING HALL
2200 S CASINO DR
LAUGHLIN, NV 89029

INTREPID GAMING, LLC 100%
Member
JON DAVID BERKLEY
Manager/President/Secretary/Treasurer 

JON DAVID BERKLEY
Manager/President/Secretary/Treasurer
APPLICATION FOR A NONRESTRICTED GAMING LICENSE
APPLICATIONS FOR LICENSURE AS A MANUFACTURER AND DISTRIBUTOR
APPLICATION FOR LICENSURE AS THE SOLE MEMBER
APPLICATION FOR LICENSURE AS A MANAGER AND KEY EXECUTIVE
APPLICATION BY INTREPID PIONEER, LLC, TO RECEIVE A PERCENTAGE OF
GAMING REVENUE FROM THE RACE BOOK AND SPORTS POOL OPERATED BY
BRANDYWINE BOOKMAKING LLC, AT THE PIONEER HOTEL & GAMBLING HA

Source:  
https://gaming.nv.gov/modules/showdocument.aspx?documentid=13571



*All information is subject to changed based on decisions by the Nevada Gaming Control Board/Commission and the owners of the property.  

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Jul 27, 2018

Wes Duncan to speak at Laughlin Leadership Forum on August 15




Wes Duncan to speak at Laughlin Leadership Forum on August 15

For immediate use

One of Nevada’s biggest problems – persons suffering mental illnesses who live a life with the revolving door of a a jail – is a focus of Wes Duncan, who wants to succeed his boss, Adam Laxalt, as the state’s Attorney General.
Nevadans are invited to hear Duncan speak at 5 P.M. on Wednesday, Aug. 15, during a Leadership Forum sponsored by the Laughlin Economic Development Corporation at the American Legion Post 60 meeting hall at 1510 Bruce Woodbury Drive, about a half-mile downhill from the Needles Highway. Admission will be free.

“Laughlin voters have a golden opportunity to hear a candidate for one of the most important elected statewide offices. Please invite your friends to join you to learn more of what Mr. Duncan wants to do, not only for Nevada, but Laughlin,” commented Jim Maniaci, President of the LEDC.

He developed the mental-behavioral health situation as a top priority through round-table discussions with most of the district attorneys offices, many sheriff’s offices, and several police departments during a state-wide tour. The solution, he indicated, involves teaming social workers, clinical psychologists, and psychiatrists with police at jails and emergency rooms. Duncan will provide more details during his presentation.

Having served as Laxalt’s First Assistant Attorney General, he strongly supports school resource officers, having identified resources so the AG’s Office can help to make it happen. 

An Air Force veteran who continues to serve in the Reserves as a major, he was assigned to the Central Criminal Court in Baghdad to help the Iraqis with the prosecution of extremist groups and suspected terrorists.
Duncan, 37, and wife Jennifer met at Nellis Air Force Base and are the parents of boys ages 3 and 4.

He faces the other major party’s candidate, Aaron Ford, with Laughlin voters casting their ballots at the Laughlin Branch of the Las Vegas-Clark County Library. Early voting will be conducted from Oct. 20 through Nov. 3, before the Nov. 6 general election. 

#

Jul 18, 2018

Guide to Resort Fees in Laughlin, Nevada

Laughlin, NV

Resort Fees and Pay to Park Fees are skyrocketing in Las Vegas, especially on the Vegas Strip.

Now Laughlin's Casino "Resorts" are jumping on the Resort Fee trend. 



For those who haven't experienced resort fees these are a fixed fee usually charged per night.  Plus tax. They are not included in the quoted room rates.  Often times they are for amenities guests may not use. 
What does your nightly resort fee get you?



Amenities, which usually do not amount to very much or are things that used to be part of the rate. Generally they will include Wi-Fi, Fitness or spa access, local phone calls, access to a business center, even a newspaper. Pool or beach access you would expect to be part of staying at the hotel is now often bundled in the resort fee.  
This article will be a guide to resort fees you may encounter in Laughlin*.  We will update it as new information is made public.  Our guess is that will be quite often....because once a property institutes a resort fee it is very easy to keep slowly raising the amount. 


Important Notice (disclaimer)
* Always check or ask ahead of time to see exactly what the resort fee might be or if you are qualified for it to be waived. While we try to include accurate information, things change. If you are aware of a change we have not included please email us.


The Resort Fees by Property

Harrah's Laughlin     
$14.00 + $1.75 tax per night (Total $15.75 per night)
Resort Fee waived for Diamond or Seven Stars Players Card Level
Includes various amenities such as WiFi in room, use of beach and pools.

Harrah's Laughin was the first to implement Resort Fees in Laughlin.  This was, no doubt, because they are part of the Caesars Entertainment. All Caesars hotels in Las Vegas have resort fees.  The resort fee at Harrah's Laughlin has slowly increased from an initial price point of about $8.




Edgewater & Colorado Belle
$8.99 + $1.10 tax per night  (Total $10.11 per night)
As of this posting, they still call it a service charge on their website. 
Resort Fee waived for guests who receive comped rooms. 
Resort fee includes:
Pool access
Internet access (may be limited)
In-room coffee
The Colorado Belle and Edgewater are both owned by Marnell Gaming (for now).  Big, recent news is that they will be acquired by Golden Entertainment sometime in 2019. 


They quietly began resort fees at around the $1.99 per night level.  The resort fee was initially called a (disguised as) "service fee".  The fee quickly jumped up, a couple dollars each time an is now at: $8.99 per night.  




Aquarius Casino Resort
$10.00 + $1.25 tax per night (Total $10.75 per night)

Resort Fee waived for guests who receive comped rooms.  

Aquarius started Resort Fees as of May 2018

Resort Fee Includes:
Access to Fitness center;
Access to Resort Pool;
Unlimited Local and 800# calls;
Self and Valet parking;
Earn 300 base points and receive $10 in FREE slot play
or $10 in FREE bet per stay

Rooms also have free WiFi.  At least you get your first day of resort fee back in free slot play.  All these amenities you are forced to pay for in the resort fee were available to guests before the resort fee was implemented. Notice how free valet and self parking is included in the Aquarius resort fee, but (as of this writing on July 17, 2018).  Yet Valet and Self Parking is still FREE to all guests. Does this mean free parking at the Aquarius is coming in the future?



Image result for riverside resort laughlin buzz



Riverside Resort
$10.00 + $1.25 tax per night (Total $11.25 per night)
Resort Fee waived for guests who receive comped rooms and  have a Silver or higher level Players Card. 

According to the Riverside Resort Website (as of 7/17/18):
Resort Fee Includes:
In-Room Basic Wi-Fi for two devices
Add two additional devices for $5 per 24 hours
Upgrade to Premium* Wi-Fi for $5 per 24 hours
In-Room Refrigerator
In-Room Coffee for two
Coming Soon - Fitness Center Access
Coming Soon - South Tower Pool, Oasis Bar & Fire Pit Access
Coming Soon – Business Center Access
Coming Soon - In-Room Safes



Tropicana Laughlin
$5.99 + $0.75 tax per night (Total $6.74 per night)
Resort Fee waived for guests who receive comped rooms.

Tropicana Laughlin just joined the Resort Fee action. As of July, non-comped rooms are subject to a nightly $5.99 + tax resort fee.
Resort fee inclusions:
Pool access
Internet access (may be limited)
In-room coffee



Laughlin isn't Vegas and the visitors, customers/clientele are not similar to Las Vegas.  However, now that the Resort Fees are in the area they will most likely spread to the rest of the properties.

Golden Nugget Laughlin is owned by a corporation that has properties elsewhere with Resort Fees. So far, no resort fees are in place at the Golden Nugget. The only other two hold outs are the Laughlin River Lodge and the Avi Resort Casino.   Plus, the Pioneer Hotel and Gambling Hall, which has new owners, and as of today no gaming license and no resort fees.



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Jul 16, 2018

Golden Entertainment to buy Edgewater and Colorado Belle in Laughlin, NV




PRESS RELEASE
Golden Entertainment to Acquire Two Laughlin, Nevada Casino Resorts in Accretive Transaction

Business Wire
LAS VEGAS--(BUSINESS WIRE)-- Golden Entertainment, Inc. (NASDAQ: GDEN) (“Golden” or the “Company”) today announced that it has entered into a definitive agreement with Marnell Gaming LLC, to acquire the Edgewater Hotel & Casino Resort and the Colorado Belle Hotel & Casino Resort in Laughlin, Nevada. The purchase price will be based on an 8.0x multiple of the combined trailing twelve months adjusted EBITDA of both properties as of November 2018, with a minimum price of $168 million and a maximum price of $190 million. Including expected cost synergies and cash acquired, the purchase price is expected to represent an implied trailing twelve months adjusted EBITDA multiple of 6.5x.

The purchase consideration will consist of $155 million of cash and the balance in restricted stock issued at a price of $28.54 per share.

The transaction will be financed with incremental debt under the Company’s credit facility and cash on hand. Pro forma for the transaction, the Company’s net leverage is expected to be below 5x at closing. The Company expects the acquisition to be cash flow positive and immediately accretive to operating results.

Blake Sartini, Chairman and Chief Executive Officer of Golden, said, "The acquisition of the Edgewater Hotel & Casino Resort and the Colorado Belle Hotel & Casino Resort provides us with an exciting opportunity to expand our portfolio to nine wholly-owned casino resorts in Southern Nevada, solidifying our presence in this growing and attractive gaming market. The transaction is consistent with our strategy to grow our business in an accretive manner for shareholders and Golden is uniquely positioned to benefit immediately from cost synergies related to the acquisition of these properties.”

The Edgewater Hotel & Casino Resort and the Colorado Belle Hotel & Casino Resort collectively feature over 1,400 slot machines, 40 table games and 2,150 hotel rooms. The properties also feature eleven restaurants and dedicated entertainment venues including the Laughlin Event Center. The Laughlin Event Center is an outdoor arena with 12,000 seats and hosts multiple headline concerts and other events throughout the year. The two properties are adjacent to Golden’s current Laughlin property, the Aquarius Casino Resort, which features over 1,200 slot machines, over 30 table games and almost 2,000 hotel rooms. When combined, these three properties will be situated on 55 contiguous acres along the heart of the Laughlin Riverwalk.

Mr. Sartini added, “The Marnell family has a long history in the gaming industry including, designing, building and owning some of the most iconic resorts that now define the Las Vegas resort corridor. Over the past several years, Marnell Gaming has taken their expertise and created a significant hotel, casino and entertainment presence in Laughlin, and we are excited to build on these well positioned properties. As a result of this transaction, I am pleased to welcome Anthony Marnell III as a shareholder of Golden Entertainment.”

The transaction is expected to close in the first quarter of 2019, subject to customary closing conditions and the receipt of all required regulatory approvals.

Latham & Watkins LLP served as legal advisor to Golden Entertainment for the transaction. Holland & Hart LLP served as legal advisor to Marnell Gaming.

Forward-looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the expected impact of the acquisition of Edgewater Hotel & Casino Resort and the Colorado Belle Hotel & Casino Resort on the Company’s operations and statements regarding the anticipated timing of closing of the acquisition. These statements can be identified by the use of forward looking terminology such as “expects,” “believes,” “estimates,” “projects,” “intends,” “plans,” “seeks,” “may,” “will,” “should” or “anticipates” or the negative or other variations of these or similar words, or by discussions of future events, strategies or risks and uncertainties. Although the Company believes that its expectations are based on reasonable assumptions within the bounds of its knowledge of its business, there can be no assurance that actual results will not differ materially from our expectations. Meaningful factors that could cause actual results to differ from expectations include, but are not limited to, risks related to the acquisition of the Edgewater Hotel & Casino Resort and the Colorado Belle Hotel & Casino Resort operations by the Company and the integration of the business to be acquired; the possibility that the proposed transaction does not close when expected or at all because required regulatory or other approvals are not received or other conditions to the closing are not satisfied on a timely basis or at all; potential adverse reactions or changes to business or employee relationships, including those resulting from the announcement or completion of the transaction; potential litigation challenging the transaction; the possibility that the anticipated benefits of the transaction are not realized when expected or at all, including as a result of the impact of, or issues arising from, the integration of the companies; our ability to realize potential synergies or projected financial results; and other factors as discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017, subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, each as filed with the United States Securities and Exchange Commission. The Company does not intend to update publicly any forward-looking statements except as required by law. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release may not occur.

Non-GAAP Financial Measures

To supplement the Company’s and the property’s financial information presented in accordance with United States generally accepted accounting principles (“GAAP”), the Company uses Adjusted EBITDA, which the Company believes is appropriate to provide meaningful comparison with, and to enhance an overall understanding of, the Company’s and the property’s financial performance. The Company believes Adjusted EBITDA provides useful information to both management and investors by excluding specific expenses and gains that the Company believes are not indicative of core operating results. Further, Adjusted EBITDA is a measure of operating performance used by management, as well as industry analysts, to evaluate operations and operating performance and is widely used in the gaming industry. Other companies in the gaming industry may calculate Adjusted EBITDA differently than the Company does.

The presentation of this additional information is not meant to be considered in isolation or as a substitute for measures of financial performance prepared in accordance with GAAP.

The Company defines “Adjusted EBITDA” as earnings before interest and other non-operating income (expense), income taxes, depreciation and amortization, acquisition expenses, loss on disposal of property and equipment and other gains and losses. The Company defines “net leverage” as total debt less cash, divided by Adjusted EBITDA for the twelve months prior to the measurement date.

About Golden Entertainment, Inc.

Golden Entertainment, Inc. owns and operates gaming properties across two divisions – resort casino operations and distributed gaming. The Company operates approximately 16,000 gaming devices, 116 table games, 5,168 hotel rooms, and provides jobs for over 7,000 team members. Golden Entertainment owns eight resort casinos – seven in Southern Nevada and one in Maryland. Through its distributed gaming business in Nevada and Montana, Golden Entertainment operates slot machines at over 1,000 locations and owns nearly 60 traditional taverns in Nevada. The Company is licensed in Illinois to operate video gaming terminals. Golden Entertainment is focused on maximizing the value of its portfolio by leveraging its scale, leadership position and proven management capabilities across its two divisions. For more information, visit www.goldenent.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20180716005169/en/

Golden Entertainment, Inc.
Charles H. Protell, 702-893-7777
Chief Financial Officer
or
Investor Relations
JCIR
Joseph Jaffoni, Richard Land, James Leahy, 212-835-8500
gden@jcir.com

Source: Golden Entertainment, Inc.