Saratoga Casino to buy Colorado casino
Wednesday 11th March 2020
SARATOGA SPRINGS -- The owners of the Saratoga racino are buying their second casino in Colorado.
Saratoga Harness Racing, Inc. (SHRI), which owns both the Saratoga Casino Hotel in Saratoga Springs, and Saratoga Casino Black Hawk in Black Hawk, Colo., has entered into an agreement with American Gaming Group, LLC (AGG) to acquire the Wildwood Casino in Cripple Creek, Colo.
The sale is anticipated to close subject to closing conditions and including regulatory approvals. Details of the purchase weren't revealed.
"Today's announcement is an exciting milestone for us," said Daniel W. Gerrity, President of SHRI. "We have been looking for opportunities to grow our portfolio of gaming assets to diversify SHRI and believe that Wildwood Casino represents the perfect fit for our company."
So-called racinos, or slot machine casinos affiliated with harness tracks, in New York State have faced increased competition for the gaming dollar in recent years with the opening of full service casinos around the state including one in Schenectady.
In Colorado, Wildwood Casino opened in 2008 and is the newest full-service property in Cripple Creek a mining-turned tourism town market. The property features over 500 slot machines, 14 table games, and is currently in the process of building a 102-room hotel that is anticipated to open by the end of 2020. The sale will also include operations of the 67-room Gold King Mountain Inn, Gas N' Roll and Daylight Donuts, all currently owned and operated by American Gaming Group, LLC and its subsidiaries.
"After initial discussions with multiple prospective buyers I felt that Saratoga not only presented the best offer but also had a proven track record that could help Wildwood continue to be the premier gaming destination in the area," said Joseph J. Canfora, CEO of AGG.
The SHRI-owned Saratoga Casino Hotel, in Saratoga Springs, includes over 1,200 slots, electronic table games, a live entertainment venue, a variety of dining options and bars, live harness racing, and simulcast wagering. SHRI's Saratoga Casino Black Hawk, in the historic town of Black Hawk, Colo. features over 425 slot machines, 10 table games, a full-service restaurant, bar and a variety of guest services. SHRI is also a partner with Delaware North Companies in the operation of Gideon Putnam Resort and Roosevelt Baths in Saratoga Springs.
Wildwood Casino is a 24-hour Las Vegas-style casino in Cripple Creek, Colo., about an hour west of Colorado Springs.
"The Highest Casino in the World" operates over 500 slots, table games and multiple dining options as well as the 67-room Gold King Inn and the Gas N' Roll gas station and convenience store. Wildwood is in the process of building a new 102-room hotel tower adjacent to the casino.