PT's Brewing Company introduced as new concept for PT's Entertainment Group

LAS VEGAS--(BUSINESS WIRE)--Sep. 17, 2015-- PT's Entertainment Group (PTEG), a division of Golden Entertainment, Inc. (NASDAQ:GDEN) and the largest traditional tavern gaming operator in Nevada, plans to continue expanding in 2016, beginning by adding four Las Vegas locations, including the opening of its first brewery in the first quarter of 2016.

With the expansion, Golden Entertainment expects to add approximately 100 employees. The company currently employs more than 2,500 team members in Nevada and Maryland and is one of the largest employers in Southern Nevada.

PT's Taverns

"The strength of our taverns continues to come from the high-quality food and our ever-popular Golden Rewards gaming program, together with an incredibly unique, neighborhood atmosphere," said Blake Sartini, CEO of Golden Entertainment. "We plan to expand by building upon what has been a winning formula for us and expect 2016 will be a notable year for our tavern business. While we have grown steadily in the last 13 years, the upcoming year represents our most aggressive growth strategy to date."

Golden Entertainment's Golden Gaming subsidiary acquired the PT's chain of taverns in 2002 and has added 30 locations over the last 13 years. In addition to PT's, the company has expanded its tavern brands to include PT's Gold, Sierra Gold, the country-themed PT's Ranch, and its Irish-themed Sean Patrick's pubs.

The company's new locations will include:

  • PT's Ranch, 6450 S. Durango Drive, Las Vegas, NV 89113
  • PT's Brewing Company, 3101 N. Tenaya Way, Las Vegas, NV 89128
  • PT's Gold (Whitney Ranch/Sunset)
  • PT's Gold (Location to be announced)

PT's Brewing Company

PTEG's newest concept will be PT's Brewing Company, set to open in the first quarter of 2016 on the site of what was previously the Tenaya Creek Brewery and restaurant.

The company will completely remodel the old Tenaya Creek Brewery as its first location of this new concept. The brewery will have a capacity of 3,000 barrels of handcrafted beer annually, including seven of its own craft beers on tap, as well as other featured local craft and domestic beers. PT's Brewing Company will also have the flexibility to produce seasonal craft beers for the company's PT's, Sierra Gold and Sean Patrick's branded taverns.

"With 46 tavern locations in Southern Nevada, we see the addition of a brewery format as the next natural step in the company's evolution and expansion," said Sartini. "Once opened, PT's Brewing Company will host a local home brew competition, with the winning beer being produced and available on tap."

About Golden Entertainment, Inc.

Golden Entertainment, Inc. owns and operates gaming properties across three divisions - distributed gaming, resort and casino operations, and tavern operations. Golden Entertainment operates approximately 9,300 gaming devices, as well as approximately 30 table games across four casino properties, approximately 50 taverns and approximately 670 distributed gaming locations in Nevada and Maryland. Golden Entertainment is focused on maximizing the value of its portfolio by leveraging its scale, leadership position, and proven management capabilities across its three divisions. For more information, visit https://goldenent.com.

This press release may be deemed to contain forward-looking statements that are subject to the safe harbors created under federal securities laws. Forward-looking statements can generally be identified by the use of words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "intend," "plan," "project," "seek," "should," "think," "will," "would" and similar expressions. In addition, forward-looking statements include statements regarding the Company's strategies, objectives, business opportunities and plans for future expansion, developments or acquisitions (including the anticipated timing of construction and completion of additional taverns and the expected size, scope, designs and features thereof, such as brewing capacity and breadth of product offerings), anticipated future growth or trends in the Company's business or key markets, projections of future financial condition or operating results, as well as other statements that are not statements of historical fact. Forward-looking statements are subject to assumptions, risks and uncertainties that may change at any time, and readers are therefore cautioned that actual results could differ materially from those expressed in any forward-looking statements. Factors that could cause actual results to differ include: unanticipated design, permitting, construction and regulatory risks and delays, customer acceptance of the Company's new product offerings, the Company's ability to realize the anticipated cost savings, synergies and other benefits from the Golden Gaming merger and integration risks, changes in national, regional and local economic and market conditions, legislative and regulatory matters, exposure to increases in gaming taxes and fees, litigation, increased competition, the Company's ability to renew its distributed gaming contracts, reliance on key personnel, the level of the Company's indebtedness and the Company's ability to comply with covenants in its debt facilities, terrorist incidents, natural disasters, severe weather conditions, environmental and structural building conditions, disruptions in the Company's information technology systems and other factors affecting the gaming, entertainment and hospitality industries generally. In addition, please refer to the risk factors contained in the Company's SEC filings available at www.sec.gov, including the Company's most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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Source: Golden Entertainment, Inc.

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