A long-time Flagstaff restaurant has been purchased by the Navajo Nation Gaming Enterprise.

The company announced it purchased Horsemen Lodge, along with the 14.1 acre parcel on which it sits.

The steakhouse has been in business since 1975.

Navajo Gaming bought the property in a leaseback, meaning the property’s seller will rent the space from the company, keeping the restaurant open and allowing staff to stay in their jobs.

Terms of the deal were not disclosed.

A release from Navajo Gaming says the move is part of a variety of business moves it will make as it works to overcome the loss of jobs from the closure of the Navajo Generating Station.

Those moves include opening a travel plaza off of Interstate 40, a craft soda maker, a fudge shop and a sausage and beef company.