Deerfoot PurchaseJust my first impression and havent dived to far into it, but doesnt the price seem a little steep? This puts a vaule of $150 million for Deerfoot casino alone. Judging by the quality of those on this board there will probably be some good input.
RED DEER, AB / ACCESSWIRE / May 5, 2022 / Gamehost Inc. ("Gamehost", the "Company") (TSX:GH)
Gamehost announces the purchase of a non-controlling/arm's length 9% interest in the Deerfoot Inn & Casino for $13.6 million. Prior to the transaction, the Company had a 91% interest in the Deerfoot. The Company now owns 100% of the property and business. The transaction was financed with traditional revolving debt from the Company's current lender at the bank's prime lending rate. The transaction closed May 5, 2022.
Deerfoot Inn & Casino was originally built in 2005 and extensively renovated/expanded in 2021. Deerfoot Casino operations include 60,000 square feet of gaming floor housing a 9 table poker room, 28 gaming tables including a separate 11 table high limit room, 805 slot machines including a separate 65 seat high-limit slot room, 24 video lottery terminals, 4 individual food and beverage outlets including a 120 seat pub-style restaurant, 24 seat caf, 20 seat sushi kiosk, 30 seat island bar and a 200 seat live entertainment show room. The adjoined Deerfoot Inn operates 188 guest rooms, pool, waterslide and fitness centre, 17,000 square feet of convention space including 14 meeting/banquet rooms, 190 seat full-service restaurant and 108 seat lounge.