Skip to Main Content

Two Marnell Gaming Casino Resorts to be Acquired in Accretive Transaction

Long-standing Holland & Hart client Marnell Gaming, LLC, a Nevada-based gaming and entertainment operator, recently announced it has entered into a definitive agreement with Golden Entertainment, Inc. Under the terms of the agreement, Golden Entertainment will acquire the Edgewater Hotel & Casino Resort and the Colorado Belle Hotel & Casino Resort, both located 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.

The transaction is expected to be cash flow positive and immediately accretive to operating results. The Edgewater Hotel & Casino Resort and the Colorado Belle Hotel & Casino Resort together 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 12,000 seat Laughlin Event Center. The two properties are adjacent to Golden Entertainment’s current Laughlin property, the Aquarius Casino Resort.

Holland & Hart’s deal team was led by Reno-based attorneys David Garcia and Jim Newman, with assistance from attorneys across several of the firm’s offices and practice areas, including Adam Cohen, Tracy Gray, Dora Lane, John Ludlum, Cory Talbot, and Grace Witsil.

For more information, please see the official press release.


Unless you are a current client of Holland & Hart LLP, please do not send any confidential information by email. If you are not a current client and send an email to an individual at Holland & Hart LLP, you acknowledge that we have no obligation to maintain the confidentiality of any information you submit to us, unless we have already agreed to represent you or we later agree to do so. Thus, we may represent a party adverse to you, even if the information you submit to us could be used against you in a matter, and even if you submitted it in a good faith effort to retain us.