Golden Entertainment Enters Material Definitive Agreement
Ticker: GDEN · Form: 8-K · Filed: May 29, 2024 · CIK: 1071255
Sentiment: neutral
Topics: material-agreement
Related Tickers: GDEN
TL;DR
GDEN signed a big deal, details TBD.
AI Summary
Golden Entertainment, Inc. announced on May 29, 2024, that it has entered into a material definitive agreement. The filing does not disclose specific details of the agreement, such as the counterparty or the financial terms, but it is classified under Item 1.01, which pertains to the entry into a material definitive agreement.
Why It Matters
This filing indicates a significant new contract or partnership for Golden Entertainment, which could impact its future operations and financial performance.
Risk Assessment
Risk Level: medium — The lack of specific details in the filing creates uncertainty about the nature and impact of the agreement.
Key Players & Entities
- GOLDEN ENTERTAINMENT, INC. (company) — Registrant
- May 29, 2024 (date) — Date of earliest event reported
FAQ
What is the nature of the material definitive agreement entered into by Golden Entertainment, Inc.?
The filing does not specify the nature of the agreement, only that a material definitive agreement has been entered into.
Who is the counterparty to this material definitive agreement?
The filing does not disclose the name of the other party involved in the agreement.
What are the key financial terms or obligations associated with this agreement?
The filing does not provide any details regarding the financial terms or obligations of the agreement.
When was this material definitive agreement entered into?
The agreement was entered into on or before May 29, 2024, as indicated by the filing date.
Under which item of the 8-K is this agreement reported?
The agreement is reported under Item 1.01, which covers the entry into a material definitive agreement.
Filing Stats: 723 words · 3 min read · ~2 pages · Grade level 10.5 · Accepted 2024-05-29 16:07:23
Key Financial Figures
- $0.01 — ange on which registered Common Stock, $0.01 par value GDEN The Nasdaq Stock Market
- $397 million — borrowings under the Company's existing $397 million term loan B-1 facility. Under the Credi
Filing Documents
- gden-20240529.htm (8-K) — 29KB
- ex101.htm (EX-10.1) — 97KB
- 0001071255-24-000080.txt ( ) — 261KB
- gden-20240529.xsd (EX-101.SCH) — 2KB
- gden-20240529_lab.xml (EX-101.LAB) — 21KB
- gden-20240529_pre.xml (EX-101.PRE) — 12KB
- gden-20240529_htm.xml (XML) — 3KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement. On May 29, 2024, Golden Entertainment, Inc. (the "Company") entered into the Third Amendment to First Lien Credit Agreement (the "Third Amendment"), by and among the Company, the subsidiary guarantors party thereto, the lenders party thereto, and JPMorgan Chase Bank, N.A., as administrative agent (the "Agent"). The Third Amendment amended that certain First Lien Credit Agreement, dated as of October 20, 2017, by and among the Company, the subsidiary guarantors party thereto, the lenders party thereto, the Agent, JPMorgan Chase Bank, N.A., as collateral agent, and the other parties thereto, as amended (the "Credit Facility"). Among other things, the Third Amendment reduces the interest rate margins applicable to borrowings under the Company's existing $397 million term loan B-1 facility. Under the Credit Facility, as amended by the Third Amendment, the Company's term loan B-1 facility bears interest, at the Company's option, at either (1) a base rate determined pursuant to customary market terms (subject to a floor of 1.50%), plus a margin of 1.25% or (2) the Term SOFR rate for the applicable interest period (subject to a floor of 0.50%), plus a margin of 2.25%. In addition, the Third Amendment eliminated the Term SOFR adjustment of 10 basis points with respect to the Company's term loan B-1 facility. Certain of the lenders under the Credit Facility, and their respective affiliates, may in the future perform for the Company and its affiliates various commercial banking, investment banking, financial advisory or other services, for which they have received and/or may in the future receive customary compensation and expense reimbursement. The foregoing description of the Third Amendment does not purport to be complete and is qualified in its entirety by the full text of such agreement, which is filed as Exhibit 10.1 hereto and incorporated herein by reference.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits 10.1 Third Amendment to First Lien Credit Agreement, dated as of May 29, 2024, by and among Golden Entertainment, Inc. (as borrower), the subsidiaries of Golden Entertainment, Inc party thereto, the lenders party thereto and JPMorgan Chase Bank, N.A. (as administrative agent) . 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: May 29, 2024 /s/ Charles H. Protell Name: Charles H. Protell Title: President and Chief Financial Officer