Saratoga Casino Buys Magnolia Bluffs Casino in Mississippi
After the deal that took place earlier this week, Magnolia Bluffs Casino Hotel in Natchez is now operating under new ownership. Per reports, the casino has been sold for an undisclosed price to Saratoga Casino Holdings LLC. With this move, the company is adding to its casino portfolio and expanding its operation to the Mississippi gambling market.
This will be the third casino under their management..
The Magnolia Bluffs Casino is located at the site of a former sawmill. The property also includes an off-site hotel with 141 rooms. Opened in 2012, the establishment features around 500 slot machines and 14 table games. After sports betting became legal in the United States in 2018, the casino also added the MS sportsbook to its offering. Recently, they made a deal with IGT and used their PlaySports platform to update its sports betting operation, now known as Playmakers Sportsbook.
Premier Gaming Group Selling the Casino after Ten Years
The online Mississippi casino was previously owned by the local Mississippi company, Premier Gaming Group. The company, co-founded by Kevin Preston, has been running the casino on the bank of the Mississippi River for a whole decade, from its opening until the recent sale.
In the statement made after the sale, Preston explained that this was a very tough decision to make for his company. However, he believes that they leave the casino in good hands and that their former employees and customers will remain valued under the new ownership.
Considering the long history of..
Premier Gaming Group in Natchez and its fantastic relationship with the local community, they did their best to find the right partner. Preston is sure that they did just that with the Saratoga Casino Holdings LLC. The new owners share the same values and will continue the work with the same passion.
Changes Unlikely Under New Ownership
Preston went on to reassure the employees that their jobs are safe under the new ownership. The change of hands shouldn’t have much effect on the 158 casino employees. Also, customers will not be likely to feel and notice much difference, too.
The CEO of Saratoga Casino Holdings, Sam Gerrity, has already pledged to do everything to maintain the long-standing relationship between the casino and its employees, guests, and local community.
He added that creating and maintaining these relationships is crucial to operate a first-class gaming facility. Gerrity finished by saying that the Saratoga family is looking forward to welcoming Magnolia Bluffs team members and patrons.
Saratoga Casino Holdings Owns The Property + The Rights To The Name
According to the agreement, Saratoga Casino Holdings bought not only the casino and hotel properties but also the rights to the name Magnolia Bluffs Casino. The new owners will continue to operate under the already agreed terms with the city. This includes the ongoing lease and the revenue sharing agreement. The deal is still subject to approval by the Mississippi gaming regulators, but it is expected to be finalized by August or September.
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