What's happening with the Colorado Belle down in Laughlin? Since Golden Entertainment went private and sold its real estate to Vici, was the Belle part of that transaction? And does Vici have any plans to redevelop the casino? It's sad to see the old riverboat dark and lonely. And what other casinos does Vici own in Laughlin?
When Golden Entertainment went public in late April, it sold off the real estate to seven of its casinos, including the STRAT, two Arizona Charlie's, and the Pahrump Nugget, plus the Edgewater and Aquarius in Laughlin. Golden's new owner, the Sartini family, will pay rent on those in exchange for a cool $1.16 billion in cash.
The old Colorado Belle was not part of that transaction. It's easy to see why not. If if had been, the Sartinis would be paying rent on a property that never reopened after the COVID shutdown in March 2020, which wouldn't make a lot of sense. That said, it was announced when the deal closed that Vici has not only the right of first offer on a sale-leaseback of the Colorado Belle, but also on the financing for a future development on that site.
According to various reports, the Sartinis so far plan to "develop a new project at the Colorado Belle property that capitalizes on the site’s position on the river," though entirely on their own terms and timeline.
Vici now owns just the two hotel-casinos in Laughlin: the Edgewater and Aquarius.
On a side note, if the Caesars-Fertitta deal goes through as announced, Fertitta Entertainment will own three properties in Laughlin. The company already owns the Golden Nugget; if it acquires Caesars, it will take over Harrah's and the Tropicana. It's speculated that the regulators might not like such a concentration of casinos -- five, out of eight in Laughlin -- in the hands of just two companies and might force Fertitta to divest of one. We'll see.
