Golden Nugget Casino Parent Company
— New Jersey's governor has signed a bill allowing Atlantic City's Golden Nugget casino to accept bets on most National Basketball Association games. The Golden Nugget's parent company. A ribbon-cutting, show girls, pool party and relocation of the world's largest gold nugget highlighted the grand opening celebration of the $100 million renovation at the Golden Nugget Casino Biloxi (l.). Tilman Fertitta, owner and chairman of parent company Landry's, purchased the property for $45 million in 2012. Tukwila casino with 69 employees will close Originally published April 29, 2015 at 3:36 pm The Golden Nugget Casino in Tukwila is being sold by parent company Nevada Gold & Casinos, which has. GoldenNuggetLeaks.org continues to shine a light on the operations of the Golden Nugget hotel and casino brand along with its corporate parent, the restaurant and hospitality conglomerate called Landry’s Inc. GoldenNuggetLeaks.org continues to shine a light on the operations of the Golden Nugget hotel and casino brand along with its corporate parent, the restaurant and hospitality conglomerate called Landry’s Inc.
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About Golden Nugget Poker
In October 2012, Golden Nugget received a license to operate real-money poker in Nevada. Not long after, the play-money site opened, and they launched an app that’s available in Apple’s App Store. Though currently restricted to play-money games, Golden Nugget Poker still has much to offer online poker enthusiasts, including impressive software and tangible prizes. The network infrastructure is supplied by Bally Technologies, which also has a deal with American Casino and Entertainment Properties, LLC, parent company of the Stratosphere casino in Las Vegas. That means that Golden Nugget’s site could be a glimpse into the future of several upcoming online poker sites, as the core software likely will be used by multiple casinos.
Software
The highlights of the Golden Nugget Poker software can be found in the “Tools” tab and at the top of each open table. Within those menus, players can find hand histories, statistics on their own play, and notes they’ve written about other players. Players also can alter the look and feel of the tables from the “Tools” menu. Cards are available in four different versions: classic, classic four-color, easy, and easy four-color.
“We’re grateful, and appreciative that people eventually realized this was an overreaction,” said Steve Scheinthal, general counsel for the Golden Nugget’s parent company, Houston-based. Golden Nugget Lake Charles is a 242-acre waterfront casino resort in Lake Charles, Louisiana, United States, owned and operated by Houston-based Landry's, Inc. The resort features 1038 guest rooms and suites housed in a 22-story tower, an 18-hole golf course, 30,000 square feet of meeting space, more than a dozen dining and bar options, a private beach, marina, spa & salon, retail corridor.
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| Industry | Casino |
|---|---|
| Founded | 2004 |
| Founder | Timothy Poster and Thomas Breitling |
| Defunct | 2010; 10 years ago |
| Headquarters | , |
| Owner | Landry's, Inc. |
Golden Nugget, Inc. (Formerly Poster Financial Group) is a Las Vegas, Nevada based private investment firm that was originally created by Timothy Poster and Thomas Breitling to acquire the Golden Nugget Las Vegas and the Golden Nugget Laughlin.
Owners and acquisition history[edit]
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When the company was founded as Poster Financial Group the company's principals were Timothy Poster and Thomas Breitling, two young (mid-30s) entrepreneurs who started Travelscape.com, an internet travel site. Tennis star Andre Agassi, a Las Vegas native, was also an investor.
Poster and Breitling had no casino ownership experience before acquiring the Golden Nugget. They faced some difficulty in obtaining the necessary casino licenses because of their friendship with Rick Rizzolo, a strip club owner being investigated by the FBI and because of Timothy Poster's uncle who was denied a gaming license because of his alleged association with known illegal bookmakers. The Nevada Gaming Control Board recommended that they be licensed for only one year. The board did however, issue them four-year licenses, with an option to apply for permanent licenses in January 2005.
The Poster Financial Group's ownership encountered some difficulties. The television series received ratings below expectations and was canceled after one season. In addition, the strategy of attracting higher level casino player created significant volatility in the first year of operations.
History[edit]
In January 2004 the Golden Nugget, Las Vegas and the Golden Nugget, Laughlin were acquired for approximately $215 million.
When Poster and Breitling assumed control of the Golden Nugget, they began to upgrade the gambling operation, by installing new 'cashless' slot machines and increasing the maximum bet at table games to $15,000. Their story became the basis for The Casino, a television series on Fox, which premiered on June 14, 2004.
On November 10, 2004 Barrick Gaming Corporation, which owns casino/hotels in downtown Las Vegas including The Plaza, The Vegas Club, The Western, and The Gold Spike, announced that it would acquire the Golden Nugget Laughlin for $31 million plus working capital. As part of the purchase agreement, Poster Financial granted Barrick a two-year limited use of the Golden Nugget brand name, after which Barrick will be required to change the name of the property.
On February 4, 2005, Houston, Texas based Landry's Restaurants, Inc. agreed to purchase the Golden Nugget Las Vegas for $140 million in cash plus the assumption of $155 million of Senior Secured Notes due in 2011 and certain working capital liabilities.
On May 31, 2005 the agreement for Barrick Gaming to acquire the Golden Nugget Laughlin expired without a final deal being reached. As a result, Landry's will acquire this property as part of its agreement to purchase the Golden Nugget Las Vegas. Apparently there will be no increase in the purchase price as a result of this change since the money from the sale would have been used to reduce the debt on the Las Vegas property. This means that Landry's would simply assume more debt.
On September 27, 2005 Landry's completed the acquisition of Poster Financial for approximately $318 million.
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External links[edit]
- Landry's Restaurants press release on acquisition of Golden Nugget Las Vegas (Acrobat Reader format)