Golden Entertainment completes sale of Montana distributed gaming operations

Golden Entertainment has completed the sale to J&J Ventures Gaming.

US.- Gambling operator Golden Entertainment has announced that it has completed the sale of its distributed gaming operations in Montana to J&J Ventures Gaming for $109m. The sale of operations in Nevada for $213.5m plus an estimated $34m of purchased cash remains pending, subject to closing conditions and the receipt of gaming regulatory approvals.

Golden Entertainment will enter into a five-year agreement under which J&J Gaming will support the gaming operations of Golden’s branded tavern locations in Nevada.

In the fourth quarter of 2022, Golden Entertainment reported revenue of $279.7m, down 1 per cent from $282m for the fourth quarter of 2021. Net income for Q4 of 2022 was $11.1m, or $0.35 per fully diluted share, compared to net income of $19.1m, or $0.59 per fully diluted share, for Q4 of 2021. Fourth quarter of 2022 Adjusted EBITDA was $63.7m, compared to Adjusted EBITDA of $67.8m for the fourth quarter of 2021.