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Golden Gaming gets early OK to run Hard Rock casino
 Message was posted: 04:44 Jan 11th, 2007     
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Casino news source: Las Vegas Sun - http://www.lasvegassun.com


Golden Gaming gets early OK to run Hard Rock casino

ASSOCIATED PRESS

LAS VEGAS (AP) - Golden Gaming Inc. has won preliminary approval from Nevada gambling regulators to operate the casino inside the Hard Rock Hotel once the hip, off-Strip property is sold to the Morgans Hotel Group.

The Gaming Control Board gave the privately held Las Vegas-based company the approval on Wednesday, sending the matter to Nevada Gaming Commission for final consideration on Jan. 25.

Golden Gaming operates PT's taverns and restaurants in Las Vegas, and owns three casinos in Black Hawk, Colo. The company recently completed the purchase of the Pahrump Nugget.

"Golden Gaming has a pretty substantial business," said company president Blake Santini. "In the end, (the Hard Rock deal) gives us some visibility and I think it progresses our company forward in the right direction.

Under the deal, Golden Gaming would receive a management fee to operate the casino and would share in casino revenues, while Morgans applies for its own gaming license, which could take more than a year to obtain.

Morgans, which is purchasing the Hard Rock from Peter Morton for $770 million, will operate the property's 647 hotel rooms, restaurants, The Joint nightclub and other public areas once the transaction closes.





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