“We look forward to expanding our gaming and hospitality businesses as we execute on our strategic plan to grow our footprint outside of the Cherokee Nation Reservation. Gold Strike features more than 1100 oversized luxury guest rooms including 125 suites the 50,000-square-foot casino includes a sportsbook high-limit gaming area conference and convention center and award-winning dining options. The property features a 32-story hotel tower that has become one of the most recognizable buildings in Tunica.

Gold Strike is located on the Mississippi River in Tunica, approximately 30 minutes from downtown Memphis. We are excited for the team at Gold Strike Tunica to join the CNE family,” Mark Fulton, President of Cherokee Nation Entertainment, said. “Cherokee Nation Entertainment has a rich history of operating award-winning hospitality destinations in Oklahoma, and we are proud to continue our growth in gaming and bring the level of excellence we are known for to the Tunica area. CNE Gaming Holdings will enter into a long-term lease agreement with VICI Properties, the Gold Strike property owner. The purchase price represents an EBITDA multiple of approximately six times, based on 2021 Adjusted Property EDITBAR of $115 million.

Cherokee Nation Entertainment Gaming Holdings, a subsidiary of Cherokee Nation Businesses, has announced that it has signed an agreement with MGM Resorts International to purchase the operations of Gold Strike Tunica for $450 million in cash, subject to customary adjustments.

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