J&J Ventures Gaming, LLC entered into definitive agreement to acquire distributed gaming operations in Montana of Golden Entertainment, Inc. (NasdaqGM:GDEN) for approximately $110 million on March 3, 2023. As reported, J&J Ventures Gaming, LLC will acquire Golden?s Distributed Gaming Operations in Montana for $109 million in cash plus an estimated $5.0 million of purchased cash, comprised of cash and cash equivalents related to such operations at the time of closing (subject to adjustment based on working capital and purchased cash at closing). In a related transaction, J&J Ventures Gaming, LLC entered into definitive agreement to acquire distributed gaming operations in Nevada of Golden Entertainment, Inc. for $213.5 million in cash plus an estimated $34.0 million of purchased cash, comprised of cash and cash equivalents related to such operations at the time of closing (subject to adjustment based on working capital and purchased cash at closing). In case of termination under certain circumstances, J&J Ventures will be obligated to pay Golden a termination fee of $10 million, subject to the terms and conditions set forth therein. The transactions are expected to close prior to year end, subject to customary regulatory approvals and closing conditions. As of May 10, 2023, the transaction is expected to close during the fourth quarter of 2023.

Steven Stokdyk and Brian Duff of Latham & Watkins LLP acted as legal advisors Golden Entertainment, Inc. Paul T. Jenson of Taft Stettinius & Hollister LLP and Hamed Meshki, Michele Cumpston, Michael Beinus, Vivek Ratnam, Dave Nemecek and Katrina Levy of Kirkland & Ellis LLP acted as legal advisors and Macquarie Capital served as financial advisor to J&J Ventures Gaming, LLC.

J&J Ventures Gaming, LLC acquired distributed gaming operations in Montana of Golden Entertainment, Inc. (NasdaqGM:GDEN) on September 13, 2023.