LAS VEGAS (KSNV) — Shareholders have approved a deal for Golden Entertainment, the parent company of the STRAT casino-hotel and the PT’s Tavern chain of pubs, to go private.
Golden Entertainment announced that shareholders on Tuesday voted overwhelmingly in favor of the deal to sell operations to Blake Sartini and its real estate to VICI Properties.
The deal is expected to close within the next two months, subject to regulatory approval. Once the sales are complete, the company will be delisted from the Nasdaq.
Golden first revealed in November that Sartini, the chairman and CEO, would be buying the company’s operating assets. VICI would purchase the company’s casino real estate assets and lease them back.
“I believe this transaction maximizes value for our shareholders by providing a significant premium to our current share price,” Sartini said at the time.
In addition to The STRAT, Golden Entertainment owns the two Arizona Charlie’s Casinos in Las Vegas; Aquarius and Edgewater in Laughlin; and Pahrump Nugget, Gold Town Casino and Lakeside Casino in Pahrump.
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