Nevada Gold & Casinos completes sale of Club Fortune Casino in Henderson
Nevada Gold & Casinos, Inc. has announced that effective December 31, 2018, Nevada Gold & Casinos LV, a wholly-owned subsidiary of the Company, completed the sale of substantially all of their assets related to Club Fortune Casino located in Henderson, Nevada to Truckee Gaming.
The sale was effected pursuant to a previously announced Asset Purchase Agreement dated as of June 26, 2018, by and among Truckee, NGC LV, and the Company.
The purchase price was approximately $14.65 million, subject to certain post-closing purchase price adjustments, including a post-closing working capital true-up. A portion of the purchase price was used by the Company to pay in full the outstanding principal and other amounts due under the Company's credit agreement with Mutual of Omaha Bank.
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