J&J Ventures Gaming, LLC completed the acquisition of distributed gaming operations in Nevada of Golden Entertainment, Inc. .
January 09, 2024
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J&J Ventures Gaming, LLC entered into definitive agreement to acquire distributed gaming operations in Nevada of Golden Entertainment, Inc. (NasdaqGM:GDEN) for approximately $213.5 million on March 3, 2023. As per the terms J&J Ventures Gaming, LLC will pay $213.5 million in cash plus $34million 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). The transaction is subject to customary regulatory approvals and closing conditions. Kirkland & Ellis LLP served as legal advisor to J&J Ventures Gaming, LLC and Latham & Watkins LLP served as legal advisors to Golden Entertainment, Inc. (NasdaqGM:GDEN). The transaction is expected to close during the fourth quarter of 2023.
J&J Ventures Gaming, LLC completed the acquisition of distributed gaming operations in Nevada of Golden Entertainment, Inc. (NasdaqGM:GDEN) on January 10, 2024. Taft Stettinius & Hollister LLP served as legal advisors and Macquarie Capital (USA) Inc. served as financial advisor to J&J Ventures Gaming, LLC
Golden Entertainment, Inc. owns and operates a diversified entertainment platform, consisting of a portfolio of gaming and hospitality assets that focuses on casino and branded tavern operations. The Company operates over 5,600 slots, over 100 table games, and over 6,000 hotel rooms. The Company owns approximately eight casinos and 69 gaming taverns in Nevada. The Companyâs segments include Nevada Casino Resorts, Nevada Locals Casinos, and Nevada Tavern. The Nevada Casino Resorts segment consists of destination casino resort properties offering a variety of food and beverage outlets, entertainment venues and other amenities. The Nevada Locals Casinos segment consists of casino properties that cater to local customers who generally live within a five-mile radius. The Nevada Taverns segment consists of branded tavern locations, where the Company controls the food and beverage operations as well as the slot machines located within the tavern.