Golden Entertainment agrees to buy American Casino for $850 mln

Golden Entertainment has agreed to acquire American Casino & Entertainment Properties LLC for $850 million. American Casino owns several properties in Las Vegas, which includes the Stratosphere Casino, Hotel & Tower, Arizona Charlie’s Decatur and Arizona Charlie’s Boulder. J.P. Morgan Securities LLC, Credit Suisse, Macquarie Capital and Morgan Stanley & Co. LLC are providing financial advice to Golden while Goldman Sachs is doing likewise for American Casino, with Sullivan & Cromwell LLP providing legal counsel. Golden is owned by Whitehall Street Real Estate Partners 2007, a Goldman Sachs real estate private equity fund. The deal is expected to close by the end of this year.

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