GDEN Completes Asset Acquisition/Disposition on Jan 10, 2024

TL;DR

**GDEN just completed a major asset transaction, watch for details on its impact.**

AI Summary

On January 10, 2024, Golden Entertainment, Inc. (GDEN) filed an 8-K to report the completion of an acquisition or disposition of assets. This filing indicates a significant change in the company's asset structure, which could impact its future revenue streams and operational costs. Investors should pay close attention to the details of this transaction as it could affect the company's financial performance and stock valuation.

Why It Matters

This filing signals a material change in Golden Entertainment's business operations, potentially altering its financial outlook and competitive position. Investors need to understand the specifics of the asset change to assess its impact on the company's value.

Risk Assessment

Risk Level: medium — The risk level is medium because while the filing indicates a completed transaction, the specific details of the acquisition or disposition are not provided, leaving uncertainty about its financial implications.

Analyst Insight

A smart investor would seek out further details regarding the specific assets acquired or disposed of, as this information is crucial for understanding the financial impact on Golden Entertainment, Inc. and its future prospects.

Key Players & Entities

• GOLDEN ENTERTAINMENT, INC. (company) — the registrant filing the 8-K
• January 10, 2024 (date) — date of earliest event reported and filing date
• 000-24993 (other) — Commission File Number for Golden Entertainment, Inc.
• GDEN (other) — Trading Symbol for Golden Entertainment, Inc.
• The Nasdaq Stock Market LLC (other) — exchange where GDEN Common Stock is registered

FAQ

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value GDEN The Nasdaq Stock Market
• $213.5 m — "J&J Nevada") for cash consideration of $213.5 million, subject to adjustments, pursuant

Filing Documents

• gden-20240110.htm (8-K) — 30KB
• nvrouteex991.htm (EX-99.1) — 271KB
• nvrouteex992.htm (EX-99.2) — 6KB
• image_1.jpg (GRAPHIC) — 19KB
• 0001071255-24-000006.txt ( ) — 474KB
• gden-20240110.xsd (EX-101.SCH) — 2KB
• gden-20240110_lab.xml (EX-101.LAB) — 24KB
• gden-20240110_pre.xml (EX-101.PRE) — 12KB
• gden-20240110_htm.xml (XML) — 3KB

01 Completion of Acquisition or Disposition of Assets

Item 2.01 Completion of Acquisition or Disposition of Assets. On January 10, 2024, Golden Entertainment, Inc. (the "Company") completed the sale of its distributed gaming operations in Nevada to J&J Ventures Gaming of Nevada, LLC ("J&J Nevada") for cash consideration of $213.5 million, subject to adjustments, pursuant to the previously announced Membership Interest Purchase Agreement (the "Nevada Purchase Agreement") entered into among the Company and J&J Nevada on March 3, 2023, plus purchased cash, comprised of cash and cash equivalents related to such operations at the time of closing. On September 13, 2023, the Company completed the sale of its distributed gaming operations in Montana to J&J Ventures Gaming of Montana, LLC ("J&J Montana") and J&J Ventures Gaming, LLC ("J&J Ventures") pursuant to the previously announced Membership Interest Purchase Agreement (the "Montana Purchase Agreement" and, together with the Nevada Purchase Agreement, the "Purchase Agreements") entered into between the Company, J&J Montana and J&J Ventures on March 3, 2023. The foregoing descriptions of the Purchase Agreements do not purport to be complete and are qualified in their entirety by reference to the full text of the Purchase Agreements, copies of which were filed as Exhibit 2.1 and Exhibit 2.2 to the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on March 6, 2023, and are incorporated herein by reference. On January 10, 2024, the Company issued a press release captioned "Golden Entertainment Completes Sale of Nevada Distributed Gaming Operations." A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (b) Pro Forma Financial Information Unaudited pro forma financial information of the Company to give effect to the distributed gaming operations in Nevada sale transaction is attached hereto as Exhibit 99.1 and is incorporated herein by reference. (d) Exhibits 99.1 Unaudited pro forma financial information of Golden Entertainment, Inc . 99.2 Press Release issued by Golden Entertainment, Inc., dated January 10, 2024 . 104 The cover page of this Current Report on Form 8-K, formatted in Inline XBRL.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. GOLDEN ENTERTAINMENT, INC. ( Registrant ) Dated: January 10, 2024 /s/ Charles H. Protell Name: Charles H. Protell Title: President and Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR