Posted on: April 17, 2022, 07:16h.
Final up to date on: April 17, 2022, 07:16h.
Magnolia Bluffs On line casino Resort in Natchez, Mississippi, has been offered for an undisclosed value to the mother or father firm of the Saratoga On line casino Resort in upstate New York.
The locals on line casino options roughly 500 slot machines, 14 desk video games, and a sportsbook. Magnolia Bluffs expanded its partnership with IGT final fall to include sports activities betting. Magnolia Bluffs utilized the third-party sportsbook provider for its Playmakers Sportsbook. The on line casino moreover has an off-site lodge with 141 guestrooms.
Premier Gaming Group, a neighborhood Mississippi gaming firm co-founded by Kevin Preston, opened the riverboat in 2012. The on line casino sits alongside the Mississippi River within the city of Natchez.
A decade after opening Magnolia Bluffs, Preston has opted to promote the on line casino and lodge.
Whereas this was a particularly powerful choice for our partnership, it'll really depart our workforce and valued prospects in one of the best fingers attainable,” stated Preston. “As a result of lengthy historical past we have now right here in Natchez, it was essential for us to make sure we discovered the suitable firm that has the identical values and keenness we do for the group and our workforce members.”
Preston and Premier Gaming Group consider they've discovered that in Saratoga On line casino Holdings. The New York-based group owns and operates its namesake Saratoga On line casino Resort in Saratoga Springs, NY. The corporate’s portfolio moreover consists of the Saratoga On line casino in Black Hawk, Colorado.
Preston is assuring the 158 workers who work at Magnolia Bluffs that the sale of the property could have little influence on their jobs. He says company received’t discover a lot of a distinction.
The longtime gaming trade government defined that Saratoga On line casino Holdings is buying not solely the on line casino and lodge but additionally the Magnolia Bluffs On line casino title. The New York gaming operator will proceed on with its lease and income share settlement with town.
State gaming regulators might want to approve the transaction, which is predicted to shut in August or September. Sam Gerrity, chief working officer of Saratoga On line casino Holdings, has pledged to keep up the relationships Magnolia Bluffs has solid with its staff and patrons over the previous 10 years.
“We're dedicated to working first-class gaming services, and we do this by creating lasting relationships with our company, workforce members, and the communities that we serve. We sit up for welcoming Magnolia Bluffs company and workforce to the Saratoga household,” Gerrity stated.
Magnolia Bluffs is the smallest on line casino of the 26 casinos in Mississippi. The riverboat’s gaming area measures solely 16,032 sq. ft. The state’s largest is Island View the place the on line casino flooring spans 117,500 sq. ft.
Magnolia Bluffs is without doubt one of the state’s smaller gross gaming income (GGR) turbines. The state gaming trade generated GGR of almost $2.7 billion final yr. Regardless of the lingering COVID-19 pandemic, 2021 was a report yr for Mississippi casinos.
The Mississippi Gaming Fee teams casinos into three regional segments — Central, Coastal, and Northern. Magnolia Bluffs falls into the Central class, which accounted for under $364.5 million of the $2.7 billion in gaming income.