Golden Entertainment will pay US$23.5 million dividend

Las Vegas-based Golden Entertainment announced it will pay a special cash dividend to investors next month.

US.- Golden Entertainment’s board of directors will pay a dividend of US$23.5 million on July 14 for shareholders of record at the close of business on June 30. The company estimates shareholders would receive US$1.71 per common share based on 13.7 million shares outstanding. Afterwards, Golden Entertainment will calculate and announce the per-share amount following the record date.

The company declared that the special dividend is the result of its sale of its US$60 million promissory note from the Jamul Indian Village for US$24 million. This payout was among the terms of Golden’s January 2015 merger agreement with Sartini Gaming.

Golden Entertainment owns and runs casinos and slot routes in Nevada, Montana and Maryland. The company operates three casinos in Pahrump, Southern Nevada and it also holds a chain of pubs under the PT’s Gold, PT’s Pub, Sean Patrick’s and PT’s Brewing Co., and Sierra Gold brands. Golden operates about 12,000 slot machines and more than 30 table games, with four casino properties, 50 taverns and 980 distributed gaming locations within the three states.