Last updated: November 29, 2023
Golden Entertainment completes $109 million cash deal with J&J Ventures Gaming for its Montana gaming operations.
Subject to the fulfilment of customary closing requirements, including receiving gaming regulatory approvals, the previously disclosed sale of Golden Entertainment’s Nevada-distributed gaming operations to J&J is still pending.
J&J has paid roughly $109 million in cash to acquire the Montana-based company following an initial agreement in March.
The CEO of J&J Ventures Gaming, Bob Willenborg, stated that Golden Entertainment’s Montana gaming operation shares similar values and a dedication to customer service. The business eagerly welcomes Montana’s staff members and clients, looking forward to a promising future and exciting new possibilities as a result of this acquisition. Having established itself as one of the biggest terminal operators in Illinois, Pennsylvania, and Montana, J&J, which has its headquarters in Illinois and is majority-owned by Oaktree Capital Management, has now increased its presence there.
It has been satisfying for Oaktree to work with J&J’s management team to create North America’s largest revenue-generating distributed gaming operator, said David Quick, managing director and assistant portfolio manager for Oaktree’s Special Situations Group. He expressed excitement about J&J’s national distributed gaming presence expanding into another respectable jurisdiction.
Golden Entertainment Inc. (NASDAQ: GDEN) shares ended Wednesday’s trading session 0.46 percent lower, closing at $34.38 per share in New York.
Golden Entertainment will be able to concentrate on its eight casinos in Southern Nevada and its 65 gaming taverns throughout Nevada thanks to the sale.
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