Madi Gra Casino & Resort in Nitro, West Virginia, was acquired by hospitality company Delaware North, which owns the state’s only other greyhound racing track in Wheeling. The sale was completed on Tuesday, but details of the contract were not released.
In January, Delaware North, an international hospitality and entertainment company, announced plans to acquire Madi Gra Casino in Kanawa County. The property is located near the city of Nitro, West Virginia and includes a game floor, live greyhound racing track and a luxury hotel with 150 rooms as well as several restaurants. So far, it has been owned and operated by Hartman & Tiner, a real estate management company based in Oakland County, Michigan.
In a January press release, Delaware North said the contract was awaiting approval from the West Virginia Racing Board and the West Virginia Lottery Board. Now that the acquisition has been approved, the acquisition team has been sent to this building to facilitate the ownership change process as smoothly as possible. It is the second facility in Delaware North in the state. The company also owns the wheeling island hotel – casino – race track in wheeling. It also has several gambling locations in New York, Illinois, Florida, Arizona, Arkansas, and Ohio.
Officials in Hartman & Tiner and Delaware North did not want to disclose significant details of the agreement, including property prices. But the deal could be worth about $27.6 million, according to Charleston Gazette Mail, which cites records from Kanawa County offices. It could be related to last year’s media reports, which plunged into chaos and litigation after the death of family company Hartman & Tiner.
Kim Florence, president and general manager of Wheeling Island Hotels-Casino-RaceTrack, commented on the acquisition on Tuesday and convinced the community that Delaware North’s top priority was to look after casino resort employees. According to her, casinos and Players Club will retain their names and employees will be offered a 401(k) retirement savings plan that matches the company. There will be various opportunities for pay increases and other benefits.
The new owner also plans to update Mardi Gras Casino’s slot collection and provide customers with the latest and highest quality slot machines on the market right now. The 90,000 sq ft game floor is also home to about 30 table games, and there are also off-track betting for greyhound racing and horse racing at the gambling house.
Interestingly, with the newly passed WV Sports Lottery Betting Act, casino operators will probably introduce sports betting. This depends on the Supreme Court’s decision, which is expected by early summer. This could declare the federal sports betting ban unconstitutional. Florence said it hoped the U.S. Supreme Court would allow sports betting to be legalized, saying it would be a great revenue opportunity for Mardi Gras casinos and diversify gambling options offered to customers.