Golden Entertainment has successfully completed its conversion to a private family-owned compay following the close of its transaction Thursday with Chairman and CEO Blake Sartini and VICI Properties Inc. Golden Entertainment shareholders receiving a $2.75 cash dividend and 0.902 shares of VICI stock per share of Golden stock.
In connection with the transaction, VICI Properties acquired the real estate assets associated with seven of Golden Entertainment’s casino resorts and entered into a triple-net master lease with entities controlled by Sartini. Golden Entertainment will continue to operate its full casino and tavern portfolio.
“Returning to private family ownership means we can focus on running our operations without the distractions of being publicly traded,” Sartini said.
Golden Entertainment operates a diversified entertainment platform of gaming and hospitality assets. The company operates eight casinos and 73 gaming taverns in Nevada featuring approximately 5,500 slots, 80 table games and 6,000 hotel rooms.
