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$30.00 Value at Signing Represents a 41% Premium to the Company's Closing Price as of November 5, 2025
Golden Stockholders to Receive Fixed Exchange Ratio of 0.902 Shares of VICI Common Stock and $2.75 Cash Distribution with Proceeds from Blake Sartini for each Share of Golden Stock
VICI is a $30+ Billion Market Cap S&P 500 Company with an Investment Grade Balance Sheet and Owns one of the Largest High-Quality Portfolios of Market-Leading Leisure and Entertainment Destinations
Independent Committee of the Board of Directors of Golden Has Unanimously Approved the Transaction
Golden Entertainment, Inc. (NASDAQ:GDEN) ("Golden Entertainment" or the "Company"), an operator of a diversified entertainment platform of gaming and hospitality assets, announced today that it entered into a definitive agreement to sell its operating assets to Blake L. Sartini and affiliates ("Blake Sartini") and seven of its casino real estate assets to VICI Properties Inc. (NYSE:VICI) ("VICI") in a sale-leaseback transaction. Golden stockholders will receive total consideration of a fixed exchange ratio of 0.902 shares of VICI common stock for the sale of seven casino real estate assets and a cash distribution with proceeds from Blake Sartini of $2.75 for each share of Golden stock held at the closing of the transaction. The $30.00 value of consideration at signing represents a 41% premium to Golden's closing share price on November 5, 2025. The Company will continue to pay shareholders regular quarterly cash dividends of $0.25 per share through the close of the transaction.
An Independent Committee of the Board of Directors (the "Independent Committee") was formed to evaluate the transaction. The Independent Committee provided unanimous approval of the transaction and recommended that the Company's stockholders approve the definitive agreement and the transactions contemplated thereby.
In conjunction with the transaction VICI will assume and repay up to $426 million of the outstanding debt under the Company's Senior Secured Credit Facility. Santander has provided Blake Sartini a debt financing commitment to support the cash portion of the price, any excess debt and fees and expenses.
