Reno-based Caesars Entertainment Inc. has parted ways with the original Harrah’s casino in downtown Reno. At a fast and dramatic pace, the COVID-19 crisis has slowed demand along the Las Vegas Strip corridor. What our concern is that we all get through this together," Maddox said. "Our hotel occupancy will be in the low teens – and that, to me, is not our concern. The changes come shortly after a the Metropolitan Police Department reported an uptick in violence in the tourist corridor. Owned by Golden Entertainment, the property formerly known as the Stratosphere – the tallest observation tower in the world, standing 1,149 feet tall – will stay open. Before the closing, Golden purchased about 1.2 million Golden shares in the open market at an average price of $16.06 under … Then support local journalism by subscribing to the Reno Gazette Journal right here. Copyright © 2019 Las Vegas Review-Journal, Inc. | Privacy Policy, Laughlin's iconic Colorado Belle to stay closed indefinitely (Michael Quine/Las Vegas Review-Journal), The Colorado Belle in Laughlin will remain closed permanently. The company announced the closures after Nevada Gov. MGM Mirage sold the Colorado Belle and the neighboring Edgewater to Anthony Marnell III and Sher Gaming for $200 million in January 2007. Golden Entertainment’s six-deck replica of a Mississippi River paddlewheel boat on the Colorado River will keep its doors shut when casinos are allowed to reopen soon. 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Some employees could transfer to Golden’s two other Laughlin properties, the Edgewater and the Aquarius, or to its Las Vegas or Pahrump operations. Wynn CEO Matt Maddox announced in a video shared with employees that economic hardships will intensify for the company – but workers will still get paid. Golden Entertainment bought both properties from Marnell and Sher for $190 million in January 2019. Financial fallout is now leading to layoffs and furloughs for thousands and closures that will soon turn this vacation mecca into a ghost town. The STRAT - Cancellations and refunds have been processed during our temporary closing for the following: Celestia, SkyPod Observation Deck, Thrill Rides and SkyJump. When will you reopen? Golden paid the cash portion of the purchase price using $10 million of cash on hand and $145 million from its existing revolving credit facility. This list will be updated as companies announce more closure in the time of COVID-19. 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The unprecedented shuttering began Sunday, when Wynn Resorts announced it will close its two luxury Strip properties – Wynn Las Vegas and Encore – for two weeks starting Tuesday. Do you care about democracy? Don't miss the big stories. Steve Sisolak ordered that all K-12 public schools in the Clark County School District close. Las Vegas-based Golden Entertainment has closed on its $190 million deal to acquire two Laughlin casinos. When autocomplete results are available use up and down arrows to review and enter to select. Protell said Golden doesn’t intend to sell the Colorado Belle at present. 3 deaths, At least a quarter of Disney layoffs coming from Florida, NYC might reinstate virus lockdowns in new hot spots, Las Vegas churches welcome back worshippers to in-person services, Nevada reports 526 new COVID-19 cases, 11 deaths, Report details how COVID-19, malnutrition affect national security, Mexican workers send home big amounts of money during pandemic, Utah’s COVID surge continues, more deaths reported, Disneyland stays closed as California delays theme park opening rules, Unemployed Hawaiians getting $500 restaurant cards, Mentor to transgender people among Nevada’s first to die of COVID-19, US Attorney in Nevada unveils partnership to investigate COVID aid fraud, UNLV gets $3.4M state grant to expand COVID-19 contact tracing, Trump going to hospital after positive COVID test, Las Vegas houses of worship prepare for weekend reopenings, Nevada reports biggest jump in COVID-19 cases since late August. The Colorado Belle, an iconic hotel-casino on the Colorado River in Laughlin, will stay closed for the foreseeable future and lay off its 400 workers. It started with this downtown hotel. The STRAT - Cancellations and refunds have been processed during our temporary closing for the following: Celestia, SkyPod Observation Deck, Thrill Rides and SkyJump. There was no change in after-hours trading. The Colorado Belle was part of the Circus Circus Enterprises empire when it first opened. var dom1 = document.querySelector('#form1783 #field1');var field1 = new LiveValidation(dom1, {validMessage: "", onlyOnBlur: false, wait: 300});field1.add(Validate.Presence, {failureMessage:"This field is required"});field1.add(Validate.Format, {pattern: /^([^@\s]+)@((?:[-a-z0-9]+\. nodes[i].dataset.subscription : nodes[i].getAttribute('data-subscription'); if(status ==='true') {nodes[i].checked = true;}}};var nodes = document.querySelectorAll('#form1783 select[data-value]'); if (nodes) { for (var i = 0; i < nodes.length; i++) { var node = nodes[i]; var selectedValue = node.dataset ? View detailed GDEN description & address. Popular headlining shows that are now suspended include Penn & Teller and Absinthe. View source version on businesswire.com:https://www.businesswire.com/news/home/20190114005753/en/, Joseph Jaffoni, Richard Land, James Leahy, KEYWORD: UNITED STATES NORTH AMERICA NEVADA, INDUSTRY KEYWORD: ENTERTAINMENT CASINO/GAMING PROFESSIONAL SERVICES FINANCE, PUB: 01/14/2019 05:00 PM/DISC: 01/14/2019 05:00 PM, http://www.businesswire.com/news/home/20190114005753/en. We are in the hospitality and entertainment business and our team members work very hard to provide a great experience for the thousands of people who come through our doors daily. But buffets have been suspended until April 9. About Golden Entertainment, Inc. Golden Entertainment owns ten casino resorts - nine in Southern Nevada and one in Maryland. Golden Entertainment now owns ten casino resorts - nine in Southern Nevada and one in Maryland. Golden Entertainment, Inc. Common Stock (GDEN) Historical Closing Prices - View free historical Nasdaq official closing price data at Nasdaq.com.