Rocky Mountain Gaming confirms plans for acquisition of two casinos in Colorado

Gaming and hospitality company, Rocky Mountain Gaming CC, LLC, announced its plans to acquire two casinos in Colorado. Earlier this week, the company confirmed that it entered into a definitive agreement with Minter Holdings, LLC for the acquisition of the operating assets of Johnny Nolon's Casino. Additionally, the company also entered into a definitive agreement with G Investments LLC to acquire the operating assets of Colorado Grande Casino.

Currently, David Minter through Minter Holdings LLC manages the two properties. The two casinos represent an important part of the historic gaming district of Cripple Creek. Colorado Grande Casino along with Johnny Nolon's Casino are two of the original casinos for the city and offer approximately 400 gaming machines combined.

Additional amenities available for the visitors include seven hotel rooms, as well as Maggie's Restaurant at the Colorado Grande Casino. Both Minter Holdings and G Investments used the services of Innovation Capital as financial advisors for the deal.

In a statement, David J. Minter, the sole owner of Johnny Nolon's and the majority owner of the operating assets of Colorado Grande Casino, commented: "I'm proud of what I've accomplished at these two casinos over the years." Finally, he explained: "While other casinos were coming and going and changing owners, we were a constant in this town. I look forward to seeing what Rocky Mountain Gaming CC brings to these casinos I love so much."

Seeking to seize gaming opportunities across the United States, David D. Ross, Michael J. Gaughan III and Joseph J. Canfora founded Rocky Mountain Gaming. Together, the trio have significant experience in casino management which allows them to identify lucrative gaming opportunities.

Canfora commented on the topic saying: "I was surprised when David and Michael first approached me with the opportunity to get back into the Cripple Creek market." Additionally, he revealed: "After thinking about it, I realized that Johnny Nolon's and Colorado Grande presented the opportunity to maintain the old Cripple Creek casino feel that the locals had grown accustomed to."

Ross was similarly thrilled, highlighting the potential of the gaming sector in Cripple Creek. He spoke about the recent opening of Chamonix along with Golden Nugget's Salt Grass, outlining that those two locations will bring new visitors to Cripple Creek. "We think there's an opportunity for our properties to offer a true locals experience that caters to individuals looking for loose slots and personal service," he said in conclusion.

Despite the definitive agreements announced by Rocky Mountain Gaming, the acquisitions are subject to approval as well as licensing from the gambling regulator in Colorado, the Colorado Division of Gaming.

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