Golden Entertainment to divest distributed gaming ops in NV and MT for $322.5M plus $39M purchased cash

NEW ROYAL HOLDCO I INC.

Aggregate cash consideration $322.5M plus estimated $39M purchased cash; total ~$361.5M.
Nevada ops sold for $213.5M + $34M purchased cash; Montana for $109M + $5M purchased cash.
Transaction valued at ~9.0x Distributed Gaming segment Adjusted EBITDA of $44M for 2022.
Golden will enter five-year agreement with J&J Gaming to support gaming ops at Golden's branded taverns.
Expected close before year end, subject to regulatory approvals.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

NEW ROYAL HOLDCO I INC. entered into Membership Interest Purchase Agreement (the "Montana Purchase Agreement") with J&J Ventures Gaming of Montana, LLC valued at approximately $109.0 million in cash plus an estimated $5.0 million of purchased cash (effective 2023-03-03).

Action: entry
Agreement: asset purchase
Counterparty: J&J Ventures Gaming of Montana, LLC
Value: approximately $109.0 million in cash plus an estimated $5.0 million of purchased cash
Effective: 2023-03-03

Exact text from the filing

(ii) a Membership Interest Purchase Agreement (the “Montana Purchase Agreement,” and together with the Nevada Purchase Agreement, the “Purchase Agreements”) with J&J Ventures Gaming of Montana, LLC (“J&J Montana”)

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

NEW ROYAL HOLDCO I INC. entered into Membership Interest Purchase Agreement (the "Nevada Purchase Agreement") with J&J Ventures Gaming of Nevada, LLC valued at approximately $213.5 million in cash plus an estimated $34.0 million of purchased cash (effective 2023-03-03).

Action: entry
Agreement: asset purchase
Counterparty: J&J Ventures Gaming of Nevada, LLC
Value: approximately $213.5 million in cash plus an estimated $34.0 million of purchased cash
Effective: 2023-03-03

Exact text from the filing

On March 3, 2023, Golden Entertainment, Inc. (“Golden”) and certain of its subsidiaries entered into (i) a Membership Interest Purchase Agreement (the “Nevada Purchase Agreement”) with J&J Ventures Gaming of Nevada, LLC (“J&J Nevada”)

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NEW ROYAL HOLDCO I INC. filing history →

Source: SEC EDGAR

accession 0001193125-23-060720

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