Golden Gaming will add a fifth brand to its Nevada tavern business by purchasing four Irish pub-themed locations in Southern Nevada.
The Las Vegas-based company, the state’s largest tavern owner with 50 locations in Las Vegas and Reno, plans to reopen the four taverns under the Sean Patrick’s brand Oct. 1 after a monthlong remodeling.
Golden Gaming Chief Operating Officer Steve Arcana said Thursday the acquisition from Susan Graves and Michael Morrissey was a natural transaction. The company had been operating the taverns’ slot machines for several years through its statewide slot route business.
“They have been a great route partner, and we saw this as an opportunity to give us an additional brand,” Arcana said.
Golden Gaming is privately held by the Sartini family and the sales price was not disclosed.
Golden Gaming operates three versions of the PT’s chain of taverns and the company’s flagship Sierra Gold taverns.
Golden Gaming is Nevada’s largest slot machine route operator, managing more than 8,000 games in more than 700 locations statewide, including non-Golden Gaming-owned taverns, restaurants, supermarkets and bars.
Arcana said customers have returned to tavern locations after the recession sapped revenue produced by the slot machine route industry. He said a market softness has continued because customers still don’t have a large amount of discretionary income.
“Is the demand back to what it was in 2007? No,” Arcana said. “I would say the market is slightly better.”
The company also owns three casinos in Pahrump. Combined with the taverns, casinos and slot machine routes, Golden Gaming manages more than 9,000 slot machines in Nevada.
Golden Gaming purchased the Irish-themed Molly Malone’s, Sean Patrick’s, Morrissey and Kavanaugh’s from Graves and Morrissey. The deal closed Labor Day and the four taverns were closed for remodeling.
Arcana said the names were different, but the taverns were similar.
“There was a bit of a disconnect, and we decided to pick one of the four names,” Arcana said.
Sean Patrick’s won out after conversations with customers and employees.
Arcana said Golden Gaming will need Nevada regulatory approval this month to reopen the locations.
Arcana said the company, which purchased a small Northern Nevada slot machine route operator last year, isn’t done growing. He said there is opportunity for additional PT’s and Sierra Gold locations in the state.
Golden Gaming has also been approved for online poker that would be offered through a platform to be managed by Gibraltar-based 888 Holding and include Treasure Island.
Arcana said the company “is still monitoring the success of online poker in Nevada.”
Contact reporter Howard Stutz at [email protected] or 702-477-3871. Follow @howardstutz on Twitter.