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In the southern American state of Mississippi and local casino operator Natchez Casino OpCo LLC has reportedly announced that it will be selling its Magnolia Bluffs Casino and Hotel property to Saratoga Casino Holdings LLC.
According to a Friday report from The Natchez Democrat newspaper, the transaction for an unspecified amount is expected to become official by the end of September subject to regulatory approval and a range of other closing conditions to give Saratoga Casino Holdings LLC a third gambling-friendly property.
Extensive enterprise:
The newspaper reported that the Magnolia Bluffs Casino and Hotel venue opened in 2012 on the site of an old lumber mill and currently hosts a 45,000 sq ft casino featuring 14 gaming tables alongside a portfolio of over 450 slots. The property situated along the eastern bank of the Mississippi River also purportedly has an on-site sportsbook, bar and restaurant in addition to a 141-room hotel located a little over a mile away nearer the center of Natchez.
Transformational transaction:
Saratoga Casino Holdings LLC is already responsible for the historic Saratoga Casino Hotel in New York as well as Colorado’s Saratoga Casino Black Hawk enterprise and reportedly does not intend to change the name of the Magnolia Bluffs Casino and Hotel following the completion of its purchase. The New York-based firm’s Chief Operating Officer, Sam Gerrity, purportedly told The Natchez Democrat that he is ‘proud’ to be adding the Mississippi venue to his company’s portfolio as part of an effort to ‘further diversify our business.’
Gerrity reportedly stated…
“We are committed to operating first-class gaming facilities and we do that by creating lasting relationships with our guests, team members and the communities that we serve. We look forward to welcoming Magnolia Bluffs Casino and Hotel guests and team to our family.”
Confident calculation:
For his part and Kevin Preston, President for Natchez Casino OpCo LLC, reportedly proclaimed that selling the Magnolia Bluffs Casino and Hotel represented ‘an extremely tough decision for our partnership.’ However, the executive purportedly moreover asserted that its decision ‘will truly leave our team and valued customers in the best hands possible.’
Preston reportedly told the newspaper…
“Due to the long history we have in Natchez, it was important for us to ensure we found the right company that has the same values and passion we do for the community and our team members here at Magnolia Bluffs Casino and Hotel. We are now confident that the team at Saratoga Casino Holdings LLC will care just as much as we have for the community we’ve operated in for the last eleven years as well as our team members and local businesses that have made such a tremendous impact on our operation through the years.”
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