Golden Entertainment to Go Private in a Deal Led by CEO Blake Sartini
Golden Entertainment Announces Private Buyout
Golden Entertainment, a company known for its diverse entertainment offerings including gaming and hospitality, has agreed to a definitive plan to sell its operating assets. This sale will be conducted by its CEO and founder, Blake Sartini, alongside his affiliates. Furthermore, seven of the company’s casino real estate properties are set to be sold to VICI Properties Inc. in a sale-leaseback transaction.
Details of the Transaction
The buyout prices the company at $30.00 per share, representing a 40% premium compared to the closing price on November 5. As part of the deal, VICI Properties will take on and repay up to $426 million of Golden Entertainment’s outstanding debt under its Senior Secured Credit Facility.
An Independent Committee of Golden’s Board of Directors was formed to evaluate the proposal and unanimously recommended that shareholders approve both the take-private transaction and the sale-leaseback agreement. Until the completion of this deal, the company will continue paying quarterly dividends of $0.25 per share to its shareholders.
This transaction is expected to close by mid-2026, pending usual closing conditions including regulatory approvals and the consent of the majority of Golden Entertainment’s stockholders. Blake Sartini, his son Blake Sartini II, and affiliated trusts — collectively holding about 25% of the voting power — have agreed to support and vote in favor of the transaction.
Leadership Perspectives on the Agreement
Blake Sartini underscored that this transaction provides significant value to shareholders through its premium offer. He expressed excitement about the opportunity to combine Golden’s Nevada casino assets with one of the nation’s leading experiential real estate platforms, anticipating new opportunities and value creation.
Since establishing Golden Entertainment in 2001, Sartini has been dedicated to delivering outstanding experiences to guests across the Las Vegas Strip, regional Nevada resorts, local casinos, and the company’s flagship taverns. He emphasized that this commitment will remain unchanged as he looks forward to guiding the company’s 5,000 employees through its next phase as a private business.
Charles Protell, Golden’s president and chief financial officer, highlighted the company’s recent strategic efforts aimed at enhancing shareholder value, such as divesting non-core assets, reducing debt, and returning capital through dividends and share buybacks. He welcomed the agreement with Sartini and VICI’s role in providing capital support by means of a tax-efficient sale-leaseback structure.
John Payne, president and COO of VICI Properties, remarked that acquiring Golden Entertainment’s casino real estate assets strengthens VICI’s leading position in the Nevada gaming market. He expressed enthusiasm for expanding VICI’s footprint in this vibrant and growing market and noted the long-term value of these properties as Nevada continues to grow as a premier destination for leisure and entertainment.
