---
schema_version: "secwatch.filing_event.v1"
accession: "0001071255-25-000124"
form_type: "8-K"
ticker: "GDEN"
cik: "0001071255"
company_name: "NEW ROYAL HOLDCO I INC."
filed_at: "2025-11-07T23:59:59+00:00"
generated_at: "2026-05-16T22:54:21.689108+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.95
calibrated_materiality_score: 0.95
confidence: "high"
source: SEC EDGAR
---

# Golden Entertainment to sell OpCo for $2.75/share cash, merge PropCo into VICI for 0.902 VICI shares per GDEN share

## Summary
- Golden Entertainment shareholders to receive $2.75 per share cash plus 0.902 VICI Properties shares per share held.
- Transaction structured as sale of operating assets to Argento, LLC and merger of PropCo into VICI subsidiary; expected close mid-2026.
- Shareholder vote required; board's independent committee unanimously recommended approval; certain shareholders entered voting agreement.
- Company can solicit alternative proposals during go-shop period ending December 5, 2025; termination fee $37M ($16.4M during go-shop).
- Blake L. Sartini provides limited guarantee of OpCo Buyer's reverse termination fee of $10M.

## SEC filing metadata
- accession: 0001071255-25-000124
- form_type: 8-K
- ticker: GDEN
- cik: 0001071255
- company_name: NEW ROYAL HOLDCO I INC.
- filed_at: 2025-11-07T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.95
- calibrated_materiality_score: 0.95
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1071255/000107125525000124/0001071255-25-000124-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1071255/000107125525000124/gden-20251106.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001071255-25-000124
- JSON: https://secwatch.observer/filing/0001071255-25-000124.json
- Plain text: https://secwatch.observer/filing/0001071255-25-000124.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.