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304:. The resort's high cost and emphasis on luxury meant that it was considered high risk at the time, though the project ended up being enormously lucrative. The hotel, with its erupting volcano and South Seas theme, ignited a $ 12 billion building boom on the Strip. Its construction is also considered noteworthy in that Wynn had set a new standard for Vegas resorts, and when it opened The Mirage was the first casino to use security cameras full-time on all table games. Known for its entertainment, the hotel became the exclusive venue for the
350:, which then changed its name to MGM Mirage, for $ 6.4 billion, including $ 2 billion in assumed debt, after an initial all-cash offer of $ 17 per share and a final offer of $ 21 per share. The company was majority owned by Wynn. Although the Golden Nugget was profitable, it was not part of the master expansion plan of the corporation which was focused on consolidating a long stretch of the Strip, so MGM looked to sell the Golden Nugget.
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On May 31, 2005 the agreement for
Barrick Gaming to acquire the Golden Nugget Laughlin expired without a final deal being reached. As a result, Landry's acquired the property as part of its agreement to purchase the Golden Nugget Las Vegas. There was no increase in the purchase price as a result of
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The Poster
Financial Group's ownership encountered some difficulties. The television series received ratings below expectations and was canceled after one season. In addition, the strategy of attracting higher level casino players created significant volatility in the first year of operations.
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for approximately $ 215 million. When Poster and
Breitling assumed control of the Golden Nugget, they began to upgrade the gambling operation, by installing new "cashless" slot machines and increasing the maximum bet at table games to $ 15,000. Their story became the basis for
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this change since the money from the sale would have been used to reduce the debt on the Las Vegas property; instead, Landry's assumed that debt as well. On
September 27, 2005 Landry's completed the acquisition of Poster Financial for approximately $ 318 million.
365:, two young (mid-30s) entrepreneurs, formed Poster Financial Group as a private investment firm. When the company was founded, its initial investors included travelscape.com, an internet travel site. Tennis star
231:. Wynn later became the majority stakeholder in 1973, making him the youngest casino owner in Las Vegas. Under Wynn, the casino brand expanded greatly. Once gaining the controlling sharehold, Wynn created
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Poster and
Breitling had no casino ownership experience before acquiring the Golden Nugget. They faced some difficulty in obtaining the necessary casino licenses because of their friendship with
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recommended that they be licensed for only one year. The board however, issued them four-year licenses, with an option to apply for permanent licenses in
January 2005.
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did not last very long due to frustration with state gaming regulators, and in 1987, the property was sold to
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The first hotel tower opened in 1977, which lead for the property to get awarded a four diamond rating from
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in a partnership deal with Wilmot Gaming. The following year, Fertitta
Entertainment agreed to buy the
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contains a Golden Nugget Club is a lounge and bar that bring the Golden Nugget theme to the arena.
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is an
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This article is about Golden Nugget, Inc.. For the predecessor companies and owners, see
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brand name, after which
Barrick will be required to change the name of the property.
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resort next door. The company would later open other notable projects such as the
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Barrick Gaming
Corporation press release on acquisition of Golden Nugget Laughlin
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Landry's Restaurants press release on acquisition of Golden Nugget Las Vegas
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In 2022, Golden Nugget announced the acquisition of the
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which opened in 1946. The company runs as a division of
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Privately held companies based in the Las Vegas Valley
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The Golden Nugget first launched its online casino in
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because of his alleged association with known illegal
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Gaughan changeover leaves workers a little melancholy
320:. Afterwards Wynn decided to invite Cirque to create
628:. AP. September 2, 1996 – via Newspapers.com.
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699:"Steve Wynn, Mirage Resorts/Wynn Resorts"
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408:In January 2004 the company acquired the
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717:Arnold M. Knightly (February 25, 2007),
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622:"Glitter Gulch's Golden Nugget turns 50"
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883:"Houston Toyota Center: A to Z Guide"
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246:(not to be confused with the current
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342:Acquisition by MGM Resorts
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155:Golden Nugget Lake Charles
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18:Golden Nugget Companies
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272:Golden Nugget Laughlin
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846:Morgan, Adam (2022).
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466:On February 4, 2005,
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850:. World Casino News.
765:. World Casino News.
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587:Golden Nugget Online
573:Golden Nugget Online
567:Golden Nugget Online
518:Golden Nugget Biloxi
196:Landry's Hospitality
317:Nouvelle Expérience
307:Siegfried & Roy
100:Number of locations
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198:within the
185:Mississippi
110:Area served
52:Hospitality
926:Categories
893:2021-03-17
832:2023-05-28
806:2023-03-28
704:2009-12-07
605:References
579:New Jersey
505:Properties
420:The Casino
390:bookmakers
378:strip club
300:issued by
294:The Mirage
252:New Jersey
229:Steve Wynn
177:New Jersey
74:Steve Wynn
42:Subsidiary
436:The Plaza
173:Louisiana
867:March 4,
746:June 28,
660:ABC News
412:and the
336:Bellagio
334:and the
181:Illinois
127:Landry's
48:Industry
683:11 June
468:Houston
323:Mystère
206:History
133:Website
88:Houston
70:Founder
62:Founded
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392:. The
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122:Parent
56:Gaming
679:. PBS
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869:2021
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685:2013
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