FLINTSTONE, Md. (August 10, 2017) – Slot machine revenues generated by the Rocky Gap Casino Resort slot machines have contributed almost $3 million to a revenue fund that benefits educational efforts and other services in Allegany County.
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The figure constitutes the largest private donations ever to Allegany County and represents revenue distributed by Rocky Gap since the casino’s opening in fiscal year 2014. Rocky Gap Casino Resort is a subsidiary of Las Vegas-based Golden Entertainment, Inc. (NASDAQ:GDEN).
The largest recipient from the fund has been Allegany College of Maryland, a community college located in Cumberland. The school has received nearly $1.1 million from Rocky Gap. Frostburg State University, Allegany County fire companies, the Western Maryland Food Bank, Board of Education capital projects and Maryland’s pay-as-you-go fund received contributions from the fund.
Allegany County Commissioner Bill Valentine said the funds provided by Rocky Gap “have had a huge positive impact on our county.”
Valentine said 87 percent of the Frostburg State students who received scholarships funded by Rocky Gap remained in the county after graduating. The funds also provided law enforcement with protective vests, benefitted the county’s volunteer fire and EMS companies and furnished a new high school.
“To date, hundreds of our residents have used these funds to bring prosperity to their lives,” Valentine said.
Added Allegany County Commissioner Jake Shade, “Golden Entertainment’s Rocky Gap Casino has been a great benefit to the community. The property’s continued success helps not only the local economy but many organizations.”
Dr. Cynthia S. Bambara, president of Allegany College of Maryland, said Rocky Gap Casino Resort’s funding of the Allegany County Opportunity Scholarship supports the college’s mission to serve as a key educational partner for the community.
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“The Opportunity Scholarship has greatly enhanced the economic development opportunities for our citizens and our community by supporting education, job training, and career preparation as well as supporting families and the core values that reflect our community,” Bambara said. “The future of the region’s well-being is dependent on having an educated and skilled work force.”
Rocky Gap Casino Resort General Manager Skylar Dice said many of the property’s more than 500 team members reside in Allegany County. They are happy the casino is able to fund valuable educational resources and community services.
“The revenue fund has been a very successful program that will continue to fund important Allegany County programs for years to come,” Dice said. “According to projections, Rocky Gap’s contributions to the fund could top $6.4 million by the end of fiscal year 2018.”
About Rocky Gap Casino Resort
Rocky Gap Casino Resort is located in Rocky Gap State Park near Cumberland, Maryland in the heart of Allegany County. This location features miles of hiking trails and incredible mountain views. Rocky Gap Casino Resort is a AAA 4-Diamond Award® and TripAdvisor Certificate of Excellence-winning resort featuring a casino, hotel, events and conference center, Bonkerz Comedy Club, three restaurants and a deli, the only Jack Nicklaus Signature Golf Course in Maryland, a spa, indoor pool, fitness center, pro shop, complimentary valet parking, individual parking, and several outdoor recreational activities. The casino features 663 slot machines, 17 table games and two casino bars. The newly opened Lakeside Terrace at Rocky Gap Casino Resort offers a scenic and relaxing outdoor setting with a backdrop that includes Evitts Mountain and the 243-acre Lake Habeeb. The golf course was included in GolfWeek magazine’s list of the best courses to play in Maryland and best casino courses, as well as featured in Golf Digest’s list of America’s 36 Best Buddies-Trip Destinations. Rocky Gap Casino Resort is owned by Golden Entertainment, Inc. More information is available atwww.rockygapcasino.com.
About Golden Entertainment, Inc.
Golden Entertainment, Inc. owns and operates gaming properties across two divisions – distributed gaming and resort and casino operations. Golden Entertainment operates approximately 12,000 gaming devices and nearly 30 table games in Nevada, Maryland and Montana. The Company is also licensed in Illinois to operate video gaming terminals. The Company owns four casino properties, more than 50 taverns and operates approximately 960 distributed gaming locations in multiple jurisdictions. Golden Entertainment is focused on maximizing the value of its portfolio by leveraging its scale, leadership position and proven management capabilities across its two divisions. For more information, visitwww.goldenent.com.
For Rocky Gap Casino-Resort:
Wanda Holtschneider
(301) 784-8473
[email protected]
For Golden Entertainment:
Howard Stutz
(702) 495-4490
[email protected]
Investor Contact:
Joseph Jaffoni, Richard Land, James Leahy of JCIR
(212) 835-8500
[email protected]