MGM Resorts to sell Gold Strike Hotel & Gambling Hall to Herbst family

Industries Associated Press

MGM Resorts says it plans to sell the Gold Strike Hotel & Gambling Hall to a company owned by members of the Herbst family.

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The company announced Thursday that it had entered into a purchase and sale agreement with JETT Gaming and Jean Ventures. The deal still requires state regulators to sign off on it.

The price for the 300-room hotel-casino wasn't revealed. A nearby truck stop and gas station are included in the deal.

Gold Strike first opened in 1987 and is in Jean, Nevada, about 13 miles north of the California state line.

It was part of the package when MGM bought the Mandalay Resort Group in 2005.

JETT Gaming is owned by Jerry Herbst and his son Tim Herbst who manages Jean Ventures.