Golden Entertainment finalizes sale of Nevada gaming operations
Golden Entertainment announces the completion of its distributed gaming operations in Nevada to an affiliate of J&J Ventures Gaming.
J&J Gaming has acquired Golden Entertainment’s Nevada-based distributed gaming operations for approximately $213.5m, with another $37.5m of purchased cash.
The company previously completed the sale of its distributed gaming operations in Montana to an affiliate of J&J Ventures Gaming on September 13, 2023.
The sale completion comes after it was announced in March 2023 that Golden Entertainment was to sell its Nevada and Montana gaming operations to J&J Ventures Gaming.
Golden Entertainment owns and operates an entertainment platform consisting of a range of gaming and hospitality assets, specifically casino and branded tavern operations.
Speaking of the sale last year Golden Entertainment Chairman and CEO Blake Sartini commented: “We believe this transaction will provide further success for our route partners through sharing of best practices and new technology. We anticipate our Distributed Gaming team members will continue to serve our route partners with the same dedication under J&J Gaming’s ownership.
“Our confidence in J&J Gaming’s future success is highlighted by our new long-term agreement with J&J Gaming to service Golden’s wholly owned tavern portfolio. For Golden, these transactions will allow us to focus our management team and capital on our portfolio of wholly owned casinos and taverns in Nevada and create additional value for our shareholders.”
Golden Entertainment owns eight casinos and 69 gaming taverns in Nevada. In total, Golden Entertainment operates nearly 5,600 slots, over 100 table games, and over 6,000 hotel rooms.
In November 2023 Golden Entertainment released its Q3 financial report revealing $241.2m in net income compared to the third quarter of 2022, which was valued at $14m, representing a major increase of around 1,622.6%.
Tags/Keywords
Players trust our reporting due to our commitment to unbiased and professional evaluations of the iGaming sector. We track hundreds of platforms and industry updates daily to ensure our news feed and leaderboards reflect the most recent market shifts. With nearly two decades of experience within iGaming, our team provides a wealth of expert knowledge. This long-standing expertise enables us to deliver thorough, reliable news and guidance to our readers.
Latest News
