Provided by Casino Marousi – Καζίνο Μαρούσι
https://casinomarousi.com
https://casinomarousi.gr

Reader Rankings

Daily Record Staff//March 6, 2023
Md. casino owner divesting some operations

By Daily Record Staff
//March 6, 2023
//

Golden Entertainment Inc., the owner of Flintstone-based Rocky Gap Casino Resort, Monday announced it has entered into definitive agreements to divest its distributed gaming operations in Nevada and Montana for $322.5 million in cash, plus $39 million of estimated purchased cash at closing.
Pursuant to the terms of the agreements, J&J Ventures Gaming LLC will acquire Golden’s Distributed Gaming Operations in Nevada for $213.5 million plus an estimated $34 million of purchased cash and Golden’s Distributed Gaming Operations in Montana for $109 million plus an estimated $5 million of purchased cash, subject to customary working capital adjustments.
In addition, Golden will enter into a five-year agreement with J&J Gaming under which J&J Gaming will support the gaming operations of Golden’s branded tavern locations in Nevada at financial terms consistent with the company’s past practice.
The aggregate cash consideration plus purchased cash represents a multiple of approximately 9.0x of the Adjusted EBITDA for Golden’s Distributed Gaming segment for the year ended Dec. 31, 2022 of $44 million, net of $3.8 million of corporate costs allocated to the company’s distributed gaming segment.
Established almost 100 years ago, J&J Gaming is a privately held business and the leading distributed gaming operator in Illinois, with related operations in several other states.
The transactions are expected to close prior to the end of the year, subject to customary regulatory approvals and closing conditions. Latham & Watkins LLP is acting as legal counsel to Golden in connection with the transactions.
Golden owns and operates a diversified entertainment platform, consisting of a portfolio of gaming and hospitality assets that focus on casino, branded tavern and distributed gaming operations. Golden operates nearly 16,800 slots, over 100 table games, and over 6,200 hotel rooms. Golden owns 10 casinos – Rocky Gap and nine in southern Nevada – and more than 60 traditional taverns in Nevada. Through its distributed gaming operations in Nevada and Montana, Golden operates video gaming devices at more than 1,000 locations.
Share this!
The Cordish Companies’ Sports & Social Bethesda celebrated the opening of a new FanDuel in-person sports bet[…]
October 11, 2023
Gov. Wes Moore announced that Conair LLC is planning to establish a distribution center in Washington County.
October 10, 2023
Electric vehicles and their potential impact on job security have become central to negotiations in the U.S. a[…]
October 10, 2023
The FTC’s antitrust lawsuit against Amazon is its most aggressive move yet to tame the market power of a compa[…]
October 10, 2023
Two Federal Reserve officials suggested that the central bank may leave interest rates unchanged at its next m[…]
October 9, 2023
Union workers at Mack Trucks, including in Maryland, went on strike after voting down a five-year contract agr[…]
October 9, 2023
Sign up for your daily digest of Maryland news.
Organizations call for special elections to fill Maryland General Assembly openi[…]
10/10/2023
Baltimore law firm sued over COVID vaccine mandate policy
10/10/2023
Maryland Supreme Court approves new font list for appellate briefs
9/10/2023
Maryland Senate finance chair leaving legislature to lead MHA
6/10/2023
Pair including Md. woman convicted on wire fraud charges in debt-relief scam
6/10/2023
Listen to this article For more than half a century, colleges and universities have relied on dedica[…]
Listen to this article Earlier this year, this board wrote about the conduct of some justices and th[…]
Listen to this article Maryland is one of only four holdout states and the District of Columbia that[…]
Baltimore Orioles pitching strategy coach Ryan Klimek will take a moment before the American League […]
Well-deserved accolades for Brooks Robinson are rolling in after his death. There was a time when hi[…]
Listen to this article Dean Ronald Weich has announced his intention to leave the University of Balt[…]
Listen to this article I recently had the opportunity to step behind the scaffolding and mesh screen[…]
Decisions to connect with other individuals who you have a mutual alignment should be made with cons[…]
Star witness Caroline Ellison says FTX founder Sam Bankman-Fried ‘directed[…]
10/10/2023
Future of electric vehicles looms over negotiations in US autoworkers strike
10/10/2023
Trial document: Trump acknowledged penthouse size at smaller size than he later […]
10/10/2023
Supreme Court rejects defamation appeal from former coal company CEO
10/10/2023
Biden interview in special counsel documents investigation suggests conclusion n[…]
10/10/2023
Submit an entry for the business calendar
The Daily Record is a digital-first daily news media company focused on law, government, business, recognition events, Power Lists, special products, public notices and more.
Get our free e-alerts & breaking news notifications!
Subscribe for access to the latest digital and special editions.
© 2023 BridgeTower Media. All rights reserved.
Use of this website is subject to its Terms of Use | Privacy Policy | Your California Privacy Rights/Privacy Policy | Do Not Sell My Info/Cookie Policy

source
Visit
Provided by Casino Marousi – Καζίνο Μαρούσι
https://casinomarousi.com
https://casinomarousi.gr

Contact : casinomarousi@gmail.com

Please follow and like us: