New York-based Saratoga Harness Racing Inc. (SHRI) has agreed to buy the operating assets of Wildwood Casino in Cripple Creek, Colorado from American Gaming Group LLC.
Wildwood opened in 2008. It has 500 slots, 14 gaming tables and is building a 102-room hotel expected to open later this year. The purchase will also include the operations of Gold King Mountain Inn and other businesses owned by American Gaming Group.
“Today’s announcement is an exciting milestone for us,” said Daniel W. Gerrity, president of SHRI in a press release. “We have been looking for opportunities to grow our portfolio of gaming assets to diversify SHRI and believe that Wildwood Casino represents the perfect fit for our company. We look forward to getting to know the property’s dedicated and talented employees and the loyal guests that make Wildwood Casino so special.”
AGG considered numerous suitors for the purchase, but according to its CEO Joseph J. Canfora, “I felt that Saratoga not only presented the best offer but also had a proven track record that could help Wildwood continue to be the premier gaming destination in the area.” He added, “I am still invested in the growth and development of Cripple Creek so it was important to find a buyer who would be a good corporate citizen for the area, our guests and our team members.”
SHRI owns properties controlling more than 1,200 slots, including Saratoga Casino Hotel, in Saratoga Springs, New York, which has a racetrack, and Saratoga Casino Black Hawk, in Black Hawk, which has 425 slots and ten table games. It owns part interest in Gideon Putnam Resort and Roosevelt Baths in Saratoga Springs.
