Created by Flite Golf & Entertainment, Atomic Range will span four stories and feature more than 100 hitting bays across 92,000 square feet
– Golden Entertainment to contribute approximately seven acres of land for development to be leased to and funded by Flite Golf & Entertainment
– Atomic Range expected to drive new guest traffic to The STRAT by offering a unique entertainment experience to the North Las Vegas Strip, Downtown, and Las Vegas Locals markets
Golden Entertainment, Inc. (NASDAQ:GDEN) (“Golden Entertainment”, “Golden” or the “Company”) announced today that it entered into a definitive agreement with Flite Golf & Entertainment (“Flite Golf”) to bring Atomic Range, a new 92,000-square-foot golf entertainment destination, to seven acres of Company-owned land adjacent to The STRAT Hotel, Casino & SkyPod (“The STRAT”) in Las Vegas. The new Atomic Range will be located on Las Vegas Boulevard, just north and adjacent to The STRAT.
Pursuant to the terms of the agreement, Golden Entertainment will contribute seven acres of undeveloped real estate to Flite Golf and will share in the gross revenue generated by Atomic Range under a lease arrangement. Flite Golf will be responsible for all Atomic Range development and operating costs, which will leverage Flite Golf’s next-generation technology to provide an unmatched experience for players of all ages and abilities. Flite Golf has partnered with Century Golf, which has managed over 500 golf facilities worldwide, to operate Atomic Range with development expected to break ground in Q2 2022 with a projected completion date by the end of 2023. Flite Golf’s construction costs are expected to be approximately $70 million and Atomic Range will create over 500 new jobs.
Charles Protell, President and Chief Financial Officer of Golden Entertainment, commented, “Since acquiring The STRAT, Golden has invested over $100 million in renovating the property and we are seeing a significant return on our capital investment. Partnering with Flite Golf to develop Atomic Range will allow us to utilize our excess real estate adjacent to the STRAT to create a unique driver of visitation to our property that continues the redevelopment of the North Strip and investment in the City of Las Vegas. Flite Golf’s development experience, innovative technology and substantial equity commitment to Atomic Range makes them the perfect partner to develop this attraction. We are excited to provide this new golf experience to our guests at the STRAT, as well as Downtown visitors, convention attendees, guests at North Strip properties and Las Vegas locals.”
As we sought to bring our next-generation golf technology to the entertainment capital of the world, it was clear that Golden Entertainment and The STRAT offered a common vision and premier location to maximize visitation to Atomic Range from guests seeking a new and unique golf entertainment experience,” said John Vollbrecht, Chief Executive Officer and founder of Flite Golf & Entertainment. “We look forward to our partnership with Golden and launching our flagship property.”
Atomic Range, a production of Flite Golf and located at The STRAT, will be a premier golf entertainment destination that offers an immersive, technology-enhanced experience through game play and entertainment. Atomic Range will span nearly seven acres, rise four stories and host 103 separate hitting bays when it opens in 2023. It will also include four bars, meeting space, and a 12,000-square-foot Astrocade.
