(RTTNews) – Golden Entertainment, Inc. (GDEN), on Thursday, announced that it has entered into an agreement to sell its operating assets to Blake L. Sartini and affiliates and seven casino real estate assets to VICI Properties Inc. (VICI) through a sale-leaseback transaction.
The company’s stockholders will receive total consideration valued at $30 per share, comprising 0.902 VICI shares and $2.75 in cash, representing a 41% premium to the company’s November 5 closing price.
The company will continue to pay its $0.25 quarterly dividend until the deal closes.
As part of the deal, VICI will assume and repay up to $426 million in debt under the company’s senior credit facility, while Santander is providing debt financing to Sartini for the cash portion.
In the pre-market trading, Golden Entertainment is 42.39% higher at $30.23 on the Nasdaq.
In the pre-market trading, VICI Properties is 0.08% lesser at $30.15 on the New York Stock Exchange.
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