GOLDEN NUGGET HOTELS & CASINO SUBMITS PROPOSAL FOR $400 MILLION DEVELOPMENT IN RICHMOND, VIRGINIA
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GOLDEN NUGGET HOTELS & CASINO SUBMITS PROPOSAL
FOR $400 MILLION DEVELOPMENT IN RICHMOND,
VIRGINIA
950,000-square-foot Hotel & Casino to create 1,200 jobs and donate $70+
million within the Richmond community
HOUSTON – February 24, 2021 – Tilman J. Fertitta, owner of Golden Nugget Hotels & Casinos,
announces today its submission to expand the Golden Nugget brand into the Virginia market,
developing a $400 million Golden Nugget Richmond Hotel & Casino, donating over $70 Million to
the Richmond Community and creating over 1,200 jobs for the city.
The preferred location for Golden Nugget Richmond Hotel & Casino is within the City of
Richmond and is located six miles from Downtown and 20 miles from Richmond International
Airport. They are in active negotiation with multiple land owners and are additionally prepared to
evaluate sites owned by the City of Richmond Redevelopment Authority in an effort to enhance and
optimize economic development opportunities for the City of Richmond.
“We operate five, world-class Golden Nugget properties nationwide, each receiving numerous
industry accolades,” said Tilman J. Fertitta. “No other competing casino brand has our level of
expertise in operating and developing luxury resorts and casinos in multiple markets across the
country from Las Vegas and Atlantic City to Lake Charles and Biloxi. We know the right size of a
casino for every city, and we have the resources to create a quality entertainment experience like no
other. This property will offer first-class accommodations with an expansive casino floor and
outstanding restaurants; and I can assure you this will be where people want to play, stay and enjoy
themselves. Moreover, we will not be in competition against ourselves with any of our other
properties. Also, unlike others, our project is designed not to compete against local area Richmond
businesses. Richmond is where we want to be.”
Golden Nugget Richmond will be one of the most luxurious gaming resorts with nearly 950,000-
square-feet of entertainment. The development would be completed within approximately 36
months after approval and will contain:
• 177 luxury hotel rooms including 37 suites
• More than 93,000-square-foot, state-of-the-art casino floor with 1,900 slot machines, 92
table games, and 8 poker tables
• A 16,000 square-foot events center and 1,500 seat concert venue
• Four retail outlets which will include local MBE participation
• Six signature restaurants, including Morton’s The Steakhouse, Dos Caminos, Bill’s Bar &
Burger, Claim Jumper, and Bean & Bread plus the option to include additional local dining
favorites and will include MBE participation
---MORE---• A Blue Martini lounge area for nightlife and live music
• One-of-a-kind H2O pool complex with lazy river and private cabanas
Lorenzo Creighton, a highly-experienced and nationally-respected African-American casino industry
leader, will serve as one of the top executives for Golden Nugget Richmond. “I am extremely
honored to be a part of the Golden Nugget family. We are committed to delivering a best-in-class
destination resort and truly understand how to build a quality product that will exceed expectations
while finding diverse and qualified minority contractors and vendors. With my 25+ years of
experience, including developing and leading the MGM National Harbor project, I strongly believe
collaborating and engaging with local diverse organizations is critical to our long-term success.”
The project team would include KdG, project architect; Salas O’Brien, project engineer; Richmond-
based Whiting Turner, general contractor; and McKissack &McKissack, project and construction
manager.
Golden Nugget is in the process of going public through a merger with a special purpose acquisition
company. Golden Nugget has the funds on hand and will develop the project without any financial
support from the City. There is no financial risk that the project will not be built. Moreover, Golden
Nugget will not seek any financial concessions from the City.
Richmond Community Engagement Plan
A comprehensive community engagement plan is Golden Nugget’s top priority to not only ensure
that the future Richmond Casino referendum successfully passes, but that the ongoing operations
and business of the Golden Nugget Hotel and Casino Resort continues to benefit the Richmond
community.
• Virginia Based Minority Equity Ownership Participation. Golden Nugget has formed a
partnership with a 100% African-American and Hispanic-American owned company that is
SWaM (Small, Woman-owned and Minority-owned) Certified representing 5% of the
economic interest in the project. Golden Nugget is also seeking additional Richmond-based
minority partners for an additional 5% equity ownership in the project.
• Casino Restaurant Ownership Opportunity for African Americans. Golden Nugget will
offer local chefs and restaurant owners from diverse communities the opportunity to
become 30% Joint Venture Partners in brand name restaurants inside the Casino.
• $60 Million Donation to the Richmond Public School System. Outside of its initial
proposal, Golden Nugget will also make a $60 Million donation to the Richmond Public
School System to assist with the efforts of improving the quality of education for all
Richmond’s children, as well as providing bonuses and incentives to the teachers of
Richmond once the Golden Nugget is chosen as the Preferred Casino Operator by the City
and passage of the Citywide referendum.
---MORE---• $10 Million Donation to The Richmond Affordable Housing Trust Fund. Golden
Nugget will make a $10 million donation to the City of Richmond Affordable Housing Trust
Fund once Golden Nugget is chosen as the Preferred Casino Operator by the City and
passage of the Citywide referendum.
• $1 Million Donation to Virginia Union University. Golden Nugget will donate $1 million
to The Virginia Union University HBCU Fund upon being chosen as the Preferred Casino
Operator by the City and passage of the Citywide referendum. Golden Nugget will also
make a $100,000 annual donations to Virginia Union University following the casino
opening.
• $30,000 Donation to Metropolitan Business League. Golden Nugget will support
Richmond based minority owned companies by donating $30,000 to the historic Richmond
based Metropolitan Business League that will be used to award three $10,000 grants to
Small, Women owned and Minority owned Businesses in Richmond.
• African American-owned Project Professional Initiative. Golden Nugget intends to hire
experienced and reputable African-American owned businesses to provide certain aspects of
the outside professional support for the project, including design, project management,
marketing, and other areas.
Local Partnerships
Once selected, winning bidder, Golden Nugget will promptly activate its community engagement
plan engaging a number of local, long-term partnerships.
Richmond Virginia Minority Business Enterprise (MBE) Participation. Golden Nugget has
agreed to contribute five (5%) percent of the equity ownership in the casino project itself between
two Virginia MBE certified entities whose ownership includes Virginia resident and real estate
developer Dennis Cotto along with Richmond Virginia Resident, and former Virginia Lottery
Director, Richard Williams. Moreover, to encourage further community outreach and support,
Golden Nugget will seek local area minority investors for up to another five (5%) percent in the
casino project itself and for up to thirty (30%) percent each in two (2) casino/hotel restaurants and
retail outlets.
Virginia Sports & Technology Group (VSTG) was created to cultivate and support the inclusion
of Virginia’s Black, Indigenous, and People of Color (BIPOC) community within the state’s recent
new gaming expansion initiatives. Prior to participating in the Richmond brick & mortar casino
project, VSTG and Golden Nugget previously joined forces to apply for one of Virginia’s coveted
online sports betting licenses. As part of that online application, the Golden Nugget-VSTG joint
venture has already committed to hiring, and/or engaging with, Virginia BIPOC and MBE
marketing talent, as well as annually sharing profit from the online business through annual
donations to Virginia’s Historically Black Colleges & Universities (HBCUs). Upon completing the
online application, Golden Nugget and VSTG next turned their focus toward the Richmond,
Virginia Casino RFP. Upon Richmond’s selection of Golden Nugget as the winning candidate,
combined with the successful passing of the November referendum, as compensation for VSTG’s
---MORE---efforts and ongoing commitment and participation in local community outreach programs, and its
administration of the annual Golden Nugget Richmond HBCU philanthropic initiatives, VTSG will
earn a three percent (3%) equity stake in the Richmond Casino project. As part of this equity stake,
VSTG will not be required to risk any of its own capital, and will be entitled to a profit share that
can be no less than $180,000 per year once the Casino property opens to the public.
“I am delighted to partner with the Golden Nugget Casino,” said Rich Williams, President of the
Virginia Sports Technology Group, a 100% minority-owned firm. “I’ve been a part of the Greater
Richmond Community for the last 50 years, serving on the Governor’s Civil Rights Memorial
Committee, the NAACP, the Urban League of Greater Richmond, the Richmond Crusade for
Voters and the University of Virginia’s Richmond Ridley Scholarship Committee; and I look
forward to providing internships, scholarships, jobs and workforce training for minorities to earn a
living wage.”
Bet on Gaming Holdings, LLC (BOGH) was also created to ensure that Virginia BIPOC
communities and talent are also included in the process of procuring and developing real estate
ventures associated with Virginia’s newly licensed gaming initiatives. Again, upon Richmond’s
selection of Golden Nugget as the winning candidate, combined with the successful passing of the
November referendum, as compensation for BOGH’s boots on-the ground participation in helping
Golden Nugget identify, procure and develop the proposed Richmond resort casino site, BOGH
will earn a two percent (2%) equity stake in the Richmond Casino project. In connection with its
equity stake, BOGH will not be required to risk any of its own capital, and will be entitled to a profit
share that can be no less than $120,000 per year once the Casino property opens to the public.
“As a Virginia based minority owned company and an affordable housing developer, I’m proud of
our partnership with Golden Nugget and our thoughtful proposal to the City of Richmond and its
community,” said Dennis Cotto, Principal of Bet on Gaming Holdings, LLC. “It’s not just about
how much money someone will throw at this opportunity. Our approach will make a meaningful
and sustainable investment and impact on the Richmond Community.”
Open Investment Opportunity to Richmond’s BIPOC Community. As a goal to include the
Richmond’s capital investing community in the proposed casino project, Golden Nugget owner,
Tilman Fertitta, is creating an opportunity for Richmond BIPOC individuals to invest and obtain, in
aggregate, up to a 5% equity interest in the resort casino itself, as well as up to a 30% equity interest
in no less than two restaurant and retail businesses located within the casino/hotel property.
ABOUT GOLDEN NUGGET
LAS VEGAS - Golden Nugget Las Vegas is the most luxurious resort on the Downtown Fremont
Street Experience, and was recognized by USA Today’s “10 Best” as one of the top casinos in the
area. Critically-acclaimed for its exceptional customer experience, Golden Nugget boasts more than
2,400 recently renovated deluxe guestrooms and suites; a high-energy casino featuring the most
popular slot and video poker machines, table games, race and sports book, and poker room; world-
class restaurants such as Chart House, Grotto Italian Ristorante, Vic & Anthony’s Steakhouse,
Lillie’s, Claim Jumper, Cadillac Mexican Kitchen and Tequila Bar, as well as casual eateries including
Chick-fil-A and Starbucks; a luxury spa and salon; The Tank, the resort’s outdoor swimming pool
complete with a 200,000-gallon live shark aquarium and the H20 poolside lounge; four retail shops
specializing in fine jewelry, boutique fashion, accessories artisan chocolate, and souvenirs;
technology-rich convention and group meeting space and on-site wedding chapel; and nightlife hot
---MORE---spots include Rush Lounge and Troy Liquor Bar, Fremont Street’s only nightclub. Hotel
reservations and additional information are available by calling 800-634-3454 or by visiting online at
www.goldennugget.com.
ATLANTIC CITY - The Golden Nugget Casino, Hotel & Marina, located on the Frank S. Farley
Marina is a premier resort destination, offering guests 716 luxury guest rooms and suites. The entire
property takes on a fresh, modern look and includes a high-energy casino featuring the most popular
slot and video poker machines, table games, poker room, and over 700 iGames; nightly
entertainment, bars and lounges, stylish retail offerings, as well as Landry's signature world-class
restaurants such as Chart House and Vic & Anthony's Steakhouse; a luxury six million dollar spa and
salon and H20 poolside lounge. Landry's Inc. successfully introduced first-class accommodations,
exquisite dining options and fun-filled entertainment venues unlike anything else available in Atlantic
City with the Golden Nugget Casino, Hotel & Marina. The Golden Nugget has strong brand
recognition worldwide with locations in both Las Vegas and Laughlin, NV, Biloxi, MS and Lake
Charles, LA.
LAKE CHARLES - Located only two hours from Houston, Texas, Golden Nugget Lake Charles
features 1100 luxury hotel rooms and suites; an 18-hole championship golf course; extensive retail
options; an 18,000-square foot ballroom; 30,000 square feet of meeting space; a two-acre pool and
lazy river complex; a private beach front and marina; and a number of Landry’s signature restaurants
including Saltgrass Steak House, Vic & Anthony’s Steakhouse, Landry’s Seafood House, Bill’s Bar &
Burger and more. An innovative casino floor featuring more than 75 table games, a high limit salon,
a poker room, and 1,600 of the industry’s newest slot machines redefines the gaming experience.
Please visit goldennuggetlc.com for more information.
LAUGHLIN – The place for down-to-earth fun, Golden Nugget Laughlin is a hotel-casino located on
the banks of the Colorado River, near the Arizona and California borders, in Laughlin, Nevada. The
resort features innovative dining options, stylish guest rooms, convenient amenities, live
entertainment, distinctive event venues and some of the hottest gaming action in Laughlin – all
accented with personalized service and hospitality that have earned the hotel and casino many
accolades. The casino features slot and video poker machines, table games, live keno and a complete
race and sports book. The resort’s incredible restaurants include Claim Jumper, Saltgrass Steak House,
Bubba Gump Shrimp Co., The Deli and Bean & Bread. Guests can also enjoy luxurious, private
cabanas overlooking the Colorado River, retail options featuring latest fashions and exciting nightlife
at Gold Diggers. For more details, please visit www.goldennugget.com/laughlin.
BILOXI - Golden Nugget Biloxi, located on the Gulf of Mexico, is a premier resort destination,
offering guests more than 700 rooms and suites. The entire property recently underwent a $100 million
renovation taking on a fresh, modern look which includes a high-energy casino featuring the most
popular slot and video poker machines, table games, poker room and sports book; live entertainment,
new bar and lounge, a stunning pool with swim-up bar and poolside blackjack, as well as Landry’s
signature world-class restaurants such as Morton’s The Steakhouse, Bubba Gump Shrimp Co.,
Michael Patrick’s Sports Bar and Grill, and Lillie’s Asian Cuisine. Golden Nugget has further
introduced first-class accommodations, exquisite dining options and fun-filled entertainment venues
unlike anything else available in Biloxi. For more details, please visit www.goldennugget.com/biloxi.
---MORE---ABOUT FERTITTA ENTERTAINMENT, INC.
Fertitta Entertainment, Inc. is Tilman Fertitta’s holding company for substantially all of his assets,
including all of the equity in Golden Nugget, LLC and Landry’s, LLC, hotels, real estate, and other
investments, including the NBA’s Houston Rockets. Golden Nugget/Landry’s is a multinational,
diversified gaming, restaurant, hospitality, and entertainment company based in Houston, Texas.
The Company’s gaming division includes the renowned Golden Nugget Hotel and Casino concept,
with locations in Las Vegas and Laughlin, NV; Atlantic City, NJ; Biloxi, MS; and Lake Charles, LA.
Entertainment and hospitality divisions encompass popular destinations including the Kemah
Boardwalk. The Company also operates more than 500 outlets, including over 400 high-end and
casual dining establishments around the world, with well-known concepts such as Mastro’s, Del
Frisco’s, Landry’s Seafood House, Bubba Gump Shrimp Co., Rainforest Cafe, Morton’s The
Steakhouse, The Oceanaire Seafood Room, McCormick & Schick’s Seafood, Chart House, Joe’s
Crab Shack, and Saltgrass Steak House. Landry’s also operates the popular New York BR Guest
Restaurants such as Dos Caminos, Strip House and Bill’s Bar & Burger.
It was announced on February 1, 2021 that FEI, the indirect parent company of Golden Nugget,
LLC and Golden Nugget, is in the process of becoming a public company via a merger with Fast
Acquisition Corp., which is a publicly traded special purpose acquisition company (also known as a
“SPAC”). The merger is expected to close in the second quarter of 2021. Following the closing of
the transaction, Golden Nugget and GNVA will continue to be controlled by Tilman J. Fertitta. Mr.
Fertitta will serve as the Chairman, President and CEO of the newly publicly traded company, and
remain the public company’s largest shareholder with nearly 60% of all of the outstanding shares.
MEDIA CONTACTS:
Dancie Perugini Ware Public Relations Lorenzo Creighton, Golden Nugget Casino
Dancie Perugini Ware, Dancie@dpwpr.com Lorenzo.Creighton@GoldenNugget.com
Katelyn Gosslee, Katelyn@dpwpr.com
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