The Sands Regent, a publicly held concern based in Reno, Nev., has announced a definitive agreement to purchase the Gold Ranch Casino and RV Resort to further its strategy of expanding operations in Northern Nevada.
The Sands Regent plans to acquire Gold Ranch, located on Interstate 80 twelve miles west of Reno and two miles west of Verdi, Nev. Visible from Interstate 80, Gold Ranch is the first casino gaming attraction that travelers encounter on Interstate 80 when entering Nevada from California, and the last when leaving.
The consideration to be paid for the Gold Ranch Casino and RV Resort includes cash, common stock of The Sands Regent and new and assumed debt. The final price will be based on the property’s trailing 12-month earnings. Closing of the transaction is expected in the spring of 2002, subject to approval by Nevada gaming authorities and other contingencies.
The Gold Ranch Casino and RV Resort facilities include an 8,000-square-foot casino offering approximately 300 slot machines, a video arcade, a coffee shop, a fast food restaurant, two bars and a convenience store. The facilities also include an ARCO gas station, a State of California lottery outlet and a 105-space park opened last July.