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Nevada — Business Sale Overview

In Q2 2026, Nevada-based target companies recorded 39 M&A transactions with approximately $42.11 billion in aggregate disclosed value across 20 disclosed-value entries. The count includes mineral claims, staking transactions, projects, royalties, other assets and partial-stake investments alongside operating-company acquisitions and a reverse merger. Mining and precious metals dominated the line-item mix, with 19 entries, while gaming and entertainment drove disclosed value; business services and technology provided additional operating-company activity. Corporate acquirers participated alongside investment firms and private investors, including Foundation Investment Partners and Egon Durban. Nevada buyers such as CivilOne and Mackay Precious Metals appeared alongside out-of-state purchasers and buyers based in Canada, Australia, France and the British Virgin Islands, illustrating multiple routes to liquidity across the state’s seller and asset market.

The largest entry was Fertitta Entertainment’s proposed acquisition of a 97.55% stake in Reno-based Caesars Entertainment, carrying a column-reported value of approximately $31.68 billion. That entry represented 75.24% of aggregate disclosed value, leaving approximately $10.43 billion excluding Caesars. Both the Caesars figure and the $9.9 billion column value attached to Egon Durban’s completed 7% investment in Carson City-based Raiders Football Club require value-basis verification. The supplied Caesars narrative instead cites $6.4 billion and approximately $17.6 billion including debt, while the Raiders figure may describe the club’s overall valuation rather than the minority stake’s consideration. Beyond those entries, Tigerless Health agreed to a $280 million reverse merger with Las Vegas-based Piermont Valley Acquisition Corp to support a proposed public listing for its AI-enabled insurance business. Caesars also acquired 92% of Carson City-based Jgb Vegas Retail Lessee for $66 million, and an undisclosed buyer signed a non-binding $65 million letter of intent for Las Vegas-based CMD. These figures follow the transaction-value column throughout.

For founder-owners and sponsors, the quarter demonstrates a range of transaction structures, from strategic acquisitions and majority investments to minority liquidity and proposed business combinations. Acquisitions of surveying, engineering, distribution, consulting and electronic components businesses show buyer interest beyond Nevada’s mining and gaming sectors. However, the concentration in two large entries, the inclusion of non-company assets and the limited disclosure of consideration mean the headline total should not be treated as a benchmark for a typical business sale or as evidence of changing valuation multiples.

Nevada — Strategic vs. Sponsor-led Activity

Nevada — X / Y Plot By Sector

Nevada — M&A Segmentation

Nevada — Sector Breakdown

Second Level Primary Industry Breakdown

Nevada M&A Deal Summaries — Business Sale Activity for M&A Targets

The following transactions represent M&A activity where the target entity is headquartered in described geography, in line with the traditional reporting on target M&A deal volume and metrics captured in the charts and conventional analysis above.

1% NSR royalty on the Medicine Springs Project (4/1/2026)
Torex Gold Resources Inc. of Toronto, Canada, acquired a 1% net smelter return royalty on the Medicine Springs Project in Elko County, NV, for $2.2 million, adding exposure to the Nevada mineral project.
Certain Insurance Assets (4/1/2026)
BroadStreet Partners Group, LLC of Columbus, OH, acquired certain insurance assets in Nevada from an undisclosed agency, adding insurance agency assets to its portfolio.
Roccasecca project (4/1/2026)
DESRI Inc. of New York, NY, acquired the Roccasecca project in Boulder City, NV, adding a 127 MW / 506 MWh standalone battery energy storage project.
Sunshine Minting, Inc. (4/2/2026)
Gold.com, Inc. of Costa Mesa, CA, acquired the remaining 55.10% stake in Sunshine Minting, Inc. of Henderson, NV, for $22 million, consolidating ownership of the precious metals business and including Liberty Refining in Hayden, ID.
RT/JO Claims (4/13/2026)
A2 Gold Corp. of Vancouver, Canada, entered into a binding letter of intent to acquire the RT/JO Claims in White Pine County, NV, for approximately $384,050, adding 26 lode mining claims; the supplied narrative records completion on June 8.
Iron Butte Project (4/15/2026)
Great Northern Minerals Limited of Perth, Australia, agreed to acquire the Iron Butte Project in Lander County, NV, for $1.55 million, adding a Nevada gold project.
Piermont Valley Acquisition Corp (4/17/2026)
Tigerless Health, Inc. of New York, NY, agreed to combine with Piermont Valley Acquisition Corp of Las Vegas, NV, in a reverse merger valued at approximately $280 million, establishing a proposed public listing platform for its AI-enabled insurance business.
CMD Inc. (4/23/2026)
An undisclosed buyer entered into a non-binding letter of intent to acquire CMD Inc. of Las Vegas, NV, for $65 million, encompassing the seller’s CMD construction operations.
Certain Mineral Claims (4/28/2026)
Blue Moon Metals Inc. of Toronto, Canada, acquired certain mineral claims in Nevada for approximately $2.36 million, adding claims adjacent to the Springer mine; the supplied narrative records completion on May 15.
Mount Jackson Project (4/30/2026)
ACDC Metals Limited of Melbourne, Australia, agreed to acquire the Mount Jackson Project near Goldfield, NV, for $14.3 million, adding a southwestern Nevada gold project.
Additional Claims (5/1/2026)
Excalibur Metals Corp. of Vancouver, Canada, acquired additional claims in Nye County, NV, through staking, expanding its holdings adjacent to the Bellehelen Project.
Jgb Vegas Retail Lessee, LLC (5/1/2026)
Caesars Entertainment, Inc. of Reno, NV, acquired a 92% stake in Jgb Vegas Retail Lessee, LLC of Carson City, NV, for $66 million, adding a controlling interest in a real estate operating and management business.
Smith & Associates Land Surveying, LLC (5/1/2026)
Bowman Consulting Group Ltd. of Reston, VA, acquired Smith & Associates Land Surveying, LLC of Las Vegas, NV, adding land surveying capabilities.
305 Property (5/4/2026)
Black Mammoth Metals Corporation of Vancouver, Canada, acquired the 305 Property in Nevada through staking, adding mineral exploration acreage.
Sierra, LLC (5/4/2026)
Redwood Services Holdco, LLC of Memphis, TN, acquired Sierra, LLC of Las Vegas, NV, from SE Capital Partners, LLC, adding a specialized consumer services business.
W-Project (5/4/2026)
Altitude Minerals Ltd of Norwood agreed to acquire the W-Project in Nevada for $1.49 million, adding a gold project on the western margin of the Northern Nevada Rift.
Jupiter Project (5/5/2026)
Headwater Gold Inc. of Vancouver, Canada, acquired the Jupiter Project in Nye County, NV, through staking, adding a Nevada gold exploration project.
Dwyer Engineering Corporation (5/7/2026)
CivilOne, LLC of Las Vegas, NV, acquired Dwyer Engineering Corporation of Las Vegas, NV, adding its engineering team while retaining service continuity for existing clients.
North Tybo Project (5/12/2026)
Excalibur Metals Corp. of Vancouver, Canada, acquired the North Tybo Project in Nevada through staking, adding a gold exploration project.
Fivemile Gold Project (5/26/2026)
Nevada Sunrise Metals Corporation of Vancouver, Canada, agreed to earn up to a 79% interest in the Fivemile Gold Project in Lander County, NV, for a column-reported value of approximately $1.35 million, expanding its gold project exposure through staged expenditure commitments.
Caesars Entertainment, Inc. (5/28/2026)
Fertitta Entertainment, Inc. of Houston, TX, agreed to acquire a 97.55% stake in Caesars Entertainment, Inc. of Reno, NV, for a column-reported value of approximately $31.68 billion, bringing the casino and gaming business under Fertitta ownership subject to remaining approvals.
Raiders Football Club LLC (5/28/2026)
Private investor Egon Durban acquired a 7% stake in Raiders Football Club LLC of Carson City, NV, in a transaction carrying a column-reported value of $9.9 billion, adding a minority interest in the professional football club.
Domain 6, Inc. (6/1/2026)
Velosio, LLC of Atlanta, GA, acquired Domain 6, Inc. of Las Vegas, NV, adding a consulting business while preserving its leadership and endorsed brand.
Veersa Technologies (6/1/2026)
Neurealm Private Limited acquired Veersa Technologies of Las Vegas, NV, adding an IT consulting and services business.
Emma Prospect and Ten O’clock Mine (6/5/2026)
Protium Clean Energy Corp. of Vancouver, Canada, agreed to acquire the Emma Prospect and Ten O’clock Mine in Nevada for a column-reported value of approximately $1.12 million, adding mineral exploration assets; the supplied narrative records completion on August 17.
American Key Supply Inc. (6/9/2026)
Foundation Investment Partners, LLC of Solon, OH, acquired American Key Supply Inc. of Las Vegas, NV, adding a distribution business with Cary Stevens continuing as CEO.
CalRamic Technologies LLC (6/10/2026)
Exxelia SAS of Paris, France, acquired a 90% stake in CalRamic Technologies LLC of Reno, NV, adding an electronic components business while founder Jeff Day retained 10% ownership and operational leadership.
goHUNT (6/10/2026)
Brandt Information Services, LLC of Tallahassee, FL, acquired goHUNT of Las Vegas, NV, adding a specialty retail business.
Gold Spike Hotel and Casino, LLC (6/10/2026)
Private investors Huan “Jeff” Mai and Qing Zhong acquired Gold Spike Hotel and Casino, LLC of Las Vegas, NV, for $11.38 million, adding a Las Vegas hospitality and gaming business.
Amonett-Frank Project (6/11/2026)
London BTC Company Limited of Tortola, British Virgin Islands, acquired the Amonett-Frank Project in Pershing County, NV, through staking, adding a Nevada gold project.
Nevada Bank and Trust Company (6/13/2026)
Front Street Financial, Inc. of Harrisburg, PA, agreed to acquire Nevada Bank and Trust Company of Caliente, NV, adding a Nevada banking franchise subject to Federal Reserve approval.
0.1875% NSR on REN project (6/15/2026)
Gold Royalty Corp. of Vancouver, Canada, acquired a 0.1875% net smelter return royalty on the REN project in Nevada for $6.25 million, adding a gold royalty interest.
Lee’s Discount Liquor (6/15/2026)
Spec’s Family Partners, Ltd. of Houston, TX, acquired Lee’s Discount Liquor of Henderson, NV, adding a Nevada liquor retail business that will retain its name and operate independently.
Lincoln Estates Group LLC (6/17/2026)
Golden Metal Resources LLC of Las Vegas, NV, acquired Lincoln Estates Group LLC in Nevada for $1.3 million.
Scheelite Mine (6/17/2026)
Perpetual Resources Limited of Subiaco, Australia, agreed to acquire the Scheelite Mine in Nevada for approximately $3.83 million, adding a mining asset subject to due diligence and applicable shareholder approvals.
Teep Project (6/18/2026)
London BTC Company Limited of Tortola, British Virgin Islands, acquired the Teep Project in Esmeralda County, NV, through staking, adding a Nevada gold project.
Contain, Inc. (6/22/2026)
Reservoir Company, LLC of Salinas, CA, acquired Contain, Inc. of Reno, NV, adding an application software business.
Legacy Mining Assets (6/22/2026)
Mackay Precious Metals Inc. of Carson City, NV, agreed to acquire legacy mining assets in Nevada from Comstock Inc. for a column-reported value of approximately $41.39 million, adding gold mining assets; the supplied narrative records completion on August 24.
Gold Offtake Stream (6/26/2026)
i-80 Gold Corp. of Reno, NV, agreed to acquire a capped gold offtake stream in Nevada from Vox Royalty Corp. for approximately $4.77 million, bringing the stream interest into its portfolio.

M&A Segmentation — Glossary:

M&A – Whole: The acquisition of 100% ownership of a target company, giving the buyer full control.
M&A – Asset: The purchase of specific assets, such as mineral rights or property, without acquiring the entire company.
M&A – Minority: The acquisition of a non-controlling stake, typically under 50%.
M&A – Spinoff or Splitoff: The divestiture of a business unit into a separate entity or distribution of subsidiary shares to shareholders.

Deal Terms — Glossary:

Transaction Value: Represents the total consideration paid for a transaction, including net debt only if assumed, capturing the full financial scope of the deal.
Deal Value: Focuses solely on the consideration paid for the equity acquired, excluding net debt, to reflect the cost of ownership.
Implied Enterprise Value: Provides a standardized measure of the target’s total entity value, incorporating 100% of the enterprise including net debt, for consistent comparison with metrics like LTM EBITDA and Revenue.
Implied Equity Value: Isolates the equity portion, representing 100% of the target’s equity value, enabling a clear equity-to-equity comparison across transactions.

Q2 2026 | Nevada M&A Insights

Q3 2026 | Nevada M&A Insights

Q1 2026 | Nevada M&A Insights