Global Casinos announce purchase of Doc Holliday venue
Global Casinos Inc has confirmed its acquisition of the Colorado-based Doc Holliday Casino in a deal worth around $3.85 million in cash.
The deal to buy the limited stakes gaming casino in Central City, Colorado, remains, however, subject to the satisfactory completion of numerous material contingencies.
In addition to Global Casinos needing to complete an equity and debt financing application, the acquisition is also dependent upon being granted regulatory approvals from the Colorado Division of Gaming and the Local Liquor Licensing Authority and the completion of audited historical financial statements of the Doc Holliday venue.
Commenting on the move, Clifford L.Neuman, interim president of Global Casinos, said: “We believe the acquisition of Doc Holliday is a good strategic fit for Global Casinos and offers potential opportunities when combined with our existing operations at the Bull Durham Casino in Black Hawk.
“Doc Holliday has been a consistently strong performer in the Central City market which we believe will make a positive contribution to our bottom line going forward.”