Posted: Mar 6, 2023 8:34AM EST
Dean Seals
Golden Entertainment Inc. has signed an agreement to divest its distributed gaming business in Nevada and Montana for $322.5 million in cash and an additional $39 million in anticipated purchase cash.
The gaming company said Monday that J&J Ventures Gaming LLC will acquire its Nevada video-based gaming business for $213.5 million, plus…
Dean Seals
Golden Entertainment Inc. has signed an agreement to divest its distributed gaming business in Nevada and Montana for $322.5 million in cash and an additional $39 million in anticipated purchase cash.
J&J Ventures Gaming LLC will acquire its Nevada video game business for $213.5 million plus $34 million in cash and its Montana operations for $109 million plus $5 million in cash, the gaming company said Monday. Business.
Golden said it also entered into a five-year agreement with J&J Gaming to support gaming operations at Golden’s branded tavern locations in Nevada.
CEO Blake Sartini said the deal will allow Golden to focus its management team and capital on casinos and saloons in Nevada.
Golden shares rose 2.4 percent to $41.50 in premarket trading.
Write to Dean Seal: dean.seal@wsj.com