Golden Entertainment Eyes 2023 for Colorado Belle Decision
Posted on: December 11, 2022, 05:28h.
Last updated on: December 11, 2022, 06:30h.
Golden Entertainment (NASDAQ: GDEN) could render a decision on the fate of the currently shuttered Colorado Belle in Laughlin, Nevada next year. But it’s unlikely the operator will reopen the riverboat casino.
In an interview with Richard Velotta of the Las Vegas Review-Journal, Blake Sartini II, the son of Golden Chairman and CEO Blake Sartini, said the operator would like to make a decision on what’s next for the Colorado Belle in 2023.
I think the reopening is probably something we would not approach again,” said Sartini II in the interview. “We were successful in moving that business to the other two properties. What that has allowed us to do now is to focus on what can we do with that land.”
The elder Sartini addressed the fate of the Colorado Belle earlier this year on the company’s second-quarter earnings conference call. The chief executive officer noted the operator is maintaining the gaming license for the riverfront casino-hotel while “exploring A to Z opportunities for that piece of property.”
Colorado Belle: Victim of Coronavirus Shutdown
While the vast majority of Nevada casinos reopened following the state-mandated coronavirus closures in early 2020, some have not, and the Colorado Belle is part of that group and has been shuttered for more than 30 months.
As is the case with other gaming companies that operate multiple casinos in the same market, Golden shifted business from the Colorado Belle to the Aquarius and Edgewater — its other Laughlin venues.
As the gaming license holder and real estate owner, Golden holds all the cards regarding Colorado Belle’s future. The operator could demolish the venue, turn it into a non-gaming venue, or sell it to a competitor. In the Review-Journal interview, Sartini II didn’t mention the possibility of selling the venue.
It’s possible that an operator looking to enter Nevada could be interested in buying the Colorado Belle. But under that scenario, the prospective buyer would be entering into direct competition with Golden and Caesars Entertainment — the two dominant players in the Laughlin market.
Options Abound for Colorado Belle
While Golden reopening the venue appears highly unlikely and sale talk is just speculation at this point, there are still plenty of options for what the owner can do with the Colorado Belle.
“It’s a premium piece of land in that market. It might be nice to maybe put the event center down in that space and have an event center right there on the river. It’s something we’ve often talked about as well,” said Sartini II in the Review-Journal interview.
Separately, Sartini II said Golden is has expansion plans for its PT’s Pub brand. The operator is adding another PT’s location at Desert Inn and Durango in Las Vegas in the second quarter, with the possibility of several more venues coming online in the second half of 2023.
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Last Comments ( 30 )
Redo the Colorado Belle. Open the River Walk back up so it continues the rest of the way like it did before. Things are not the same and the walk being closed discourages lots of people and families. The Colorado Belle could be remodeled, continue with the old time river boat gambling theme. Add a little modern whimsicle theme and maybe a little Mardi Gras to it and it would be a hit. Get local Music to play, Have some new young talent and even Open Mic nights and have some of the Teens in Music that are better than many adults play music. Continue with the Family Fun. Everyone misses the Colorado Belle and we would love for it to be revamped and open again. Would also love for all of the River Walk to be open. There is so much possibility for the iconic hotel and casino.
It should be turned into a strip club!
We always loved th Colorado Belle. We've been going there for 30 years. Gambling and dining and overall fun were top notch. We hope that Sean and Golden Entertainment decide to keep, refurbish, and reopen The Belle very soon!!!
My family always loved the Belle hotel. The first time wife and I stayed at edge water we had bedbugs. Management did nothing for us except say sorry. I got bit and they took pictures and again nothing. Belle was family fun not like the other 2
Golden has absolutely no experience running a casino and hotel. They bought a few properties In pahrump and now no one goes there. Their promotions stink and they’re cheap. Their experience lies in owning bars with video poker. A far cry from a casino resort. How these clown companies get gaming licenses is insane to me.
The Colorado Belle is iconic. If they invested in reinvigorating the space add some contracted shops and restaurants, even something for kids..they would definitely make their money back and then some. That property is historic. It be a shame if the historical society deemed it so and they weren't able to do anything....☝
We spent every trip to Laughlin staying and gambling at the Colorado bell. Our fairies place.....went back once since it closed and will not return unless the bell reopens. The owners made a big mistake by closing that 1 down they could have closed one of the other properties down. The bell was the highlight of Laughlin trips for a lot of people. Everyone I know went constantly to Laughlin and stayed at the Colorado bell. Please consider reopening it or sell it to someone that will.
Colorado Bell was our favorite casino in Laughlin nothing is the same once Aquarius bought them out and closed them down. They had great food and live entertainment on weekend
Colorado Belle was our favorite! Loved The Brewery, Sitting on the patio looking out at the river. Loved watching the Koi fish. Laughlin is not as fun as it used to be.
Golden didn't get to see the Belle and the attachment people had to it. A good marketing department could get the Belle going again. Offering comps like before would attract lots of customers. The Belle was always packed when they had comps and slot tournaments. Using different areas of the casino to house different types of games would be good. A video keno area with some of the older type keno machines. Interactive slot machine area also with some older games. A couple of 5 dollar blackjack tables. Maybe even a once in a while dollar table. Get people gambling and a few comp drinks will have them spending more money. The Belle can be fixed. Up to the owners on how much they would be willing to put into it.
Re vamp it , gut it and redo the inside, and charge for it. Put a lounge on the top overlooking the river. put a Mardi Gras theme in there. make it fun and exciting.
the colorado belle is my favorite place in laughlin. i visit far less since it closed. the town doesnt feel the same, and having the riverwalk essentially closed right in its heart takes away from the charm of the town. not pleased with golden for closing it down. if they demolish it, i'll make sure i don't stay or play at golden properties.
Do something, its been an eyesore in Laughlin for years now.
You are just losing money by letting the Belle sit vacant. It would bring back many people who would probably play at your other properties as well. I'm sure I would.
I would like to see another gaming and restaurant venue with a river theme that does not necessarily have a hotel that could be added later there is plenty of land. This would complete the river walk. Putting the event center there would be a poor use of that river front center strip land.