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Golden entertainment division expands with local acquisition

PT’s Entertainment Group, a division of Golden Entertainment Inc. (NASDAQ:GDEN), has acquired all three of the T-Bird Lounge & Restaurants’ Las Vegas locations.


According to the Las Vegas Sun, after completing the acquisition the local pub giant will assume operations of the trio of valley locations including 9465 S. Eastern Ave, 6560 W. Warm Springs Road and 8780 W. Lindell Road.

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Valley mainstay:
After nearly three decades of ownership, Butch Jensen and Mary Alice Rasmuson, co-founders of the Las Vegas mainstay, decided to sell the properties that offer a 24-hour casual dining experience, with full-service bar and video poker.

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Rasmuson, along with Jensen, said in a statement…
“After 28 years in the bar and restaurant business, we have made the difficult decision to sell our businesses. It’s been an incredible ride and we are so thankful to everyone who has supported T-Bird’s. It is with great pride that we pass the torch to PT’s,” as cited by the news agency.

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The Facebook page of the Las Vegas bar and restaurant business informs that “although we’ve had numerous offers over the years; this time, we feel compelled to take it,” and that it will operate all three properties “as usual until September 30.”
Also commenting on its latest acquisition, Senior Vice President for Golden Entertainment Inc., Blake Sartini II, said, “T-Bird’s has long been a staple in the Las Vegas community, and we’re excited to welcome them to PT’s Entertainment Group.”

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Continued growth:
A division of Golden Entertainment, Inc., PT’s Entertainment Group is the largest traditional tavern operator in Nevada, now with 60 locations throughout the state, operating approximately 950 gaming devices. The company’s taverns include PT’s Pub, PT’s Gold, PT’s Ranch, PT’s Brewing Co., Sean Patrick’s, Sierra Gold and SG Bar.

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Formed in 2015 by the merger of Blake Sartini’s Golden Gaming and Lakes Entertainment, Las Vegas-based Golden Entertainment, Inc. owns and operates more than 16,200 gaming devices, 114 table games and 5,168 hotel rooms. It is the largest tavern operator and slot route operator in the state of Nevada. The company owns eight casino resorts; seven in Southern Nevada and one in Maryland.

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Recent acquisitions:
In July this year, Golden Entertainment announced that the company would be acquiring two Laughlin, Nevada properties, the Colorado Belle Hotel and Casino Resort and the Edgewater Hotel and Casino Resort, from Marnell Gaming, LLC for as much as $190 million.
The acquisition in July follows the company’s agreement some 13 months prior to purchase American Casino & Entertainment Properties for $850 million, transforming it from a slot route and pub owner to a midsize casino operator. In that deal, Golden got the Stratosphere and two Arizona Charlies properties in Las Vegas and the Aquarius in Laughlin.

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