New Casino One Step Closer to Reality

Rumor has it that Golden Nugget and Pinnacle have teamed up in an agreement for Golden Nugget to acquire the equity interest in Ameristar.

I know we are all thinking, "is this stuff ever going to actually happen?' It does seem to be dragging on, doesn't it?

I guess this is just one more hurdle that has to be cleared before we see all the improvements and expansion we've been hearing about for the last few years.

Under this agreement, Golden Nugget will take on all the outstanding debt releated to the project until the project is completed. then they get a $37 million credit. Yeah, I know -- confusing, isn't it?

Meanwhile, Ameristar says that it has invested around $213 million in the project. That $213 million also reflects the original purchase price.

How much closer does all this get us to seeing things start to happen? Hey, I'd be happy if someone could just translate all this financial jargon for me!