Golden Entertainment Announces Pricing of Senior Notes Offering
April 08 2019 - 5:08PM
Business Wire
Golden Entertainment, Inc. (Nasdaq: GDEN) (“Golden”) announced
today that it has priced $375 million in aggregate principal amount
of 7.625% senior unsecured notes due 2026 at an issue price of
100.000% (the “Notes”). The Notes are being offered (the
“Offering”) and sold only to persons reasonably believed to be
qualified institutional buyers pursuant to Rule 144A under the
Securities Act of 1933, as amended (the “Securities Act”) and to
non-U.S. persons in transactions outside the United States pursuant
to Regulation S under the Securities Act. The Offering is expected
to close on April 15, 2019, subject to customary closing
conditions.
Golden intends to use the net proceeds of the Offering to (i)
repay all of the outstanding indebtedness under its existing Second
Lien Credit Agreement, dated as of October 20, 2017, (ii) repay all
of the outstanding revolving indebtedness under its existing First
Lien Credit Agreement, dated as of October 20, 2017 (as amended,
restated or otherwise modified from time to time, the “Existing
First Lien Credit Agreement”), (iii) repay a portion of the
outstanding term loan indebtedness under the Existing First Lien
Credit Agreement, and (iv) pay accrued interest, fees and expenses
related to each of the foregoing.
The Notes have not been registered under the Securities Act, or
any state securities laws and, unless so registered, may not be
offered or sold in the United States except pursuant to an
exemption from, or in a transaction not subject to, the
registration requirements of the Securities Act and applicable
state securities laws. This press release does not constitute an
offer to sell or the solicitation of an offer to buy the securities
described herein, nor shall there be any sale of these securities
in any jurisdiction in which such an offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction.
About Golden Entertainment, Inc.
Golden owns and operates gaming properties across two divisions
– resort casino operations and distributed gaming. Golden operates
approximately 17,340 slots, 162 table games, and 7,318 hotel rooms,
and provides jobs for approximately 8,100 team members. Golden owns
ten casino resorts – nine in Southern Nevada and one in Maryland.
Through its distributed gaming business in Nevada and Montana,
Golden operates video gaming devices at over 1,000 locations and
owns over 60 traditional taverns in Nevada. Golden is also licensed
in Illinois and Pennsylvania to operate video gaming terminals.
Forward Looking Statements
This press release contains forward-looking statements regarding
future events, including statements regarding the proposed private
offering, that are subject to the safe harbors created under the
Securities Act of 1933 and the Securities Exchange Act of 1934.
Forward-looking statements can generally be identified by the use
of words such as “anticipate,” “believe,” “continue,” “could,”
“estimate,” “expect,” “forecast,” “intend,” “may,” “plan,”
“project,” “potential,” “seek,” “should,” “think,” “will,” “would”
and similar expressions, or they may use future dates.
Forward-looking statements in this press release include, without
limitation, statements regarding Golden’s expectations as to the
completion, timing and size of the proposed private offering, and
the anticipated use of proceeds therefrom. These forward-looking
statements are subject to assumptions, risks and uncertainties that
may change at any time, and readers are therefore cautioned that
actual results could differ materially from those expressed in any
forward-looking statements. Factors that could cause actual results
to differ include, among other things: risks and uncertainties
associated with market conditions and the satisfaction of customary
closing conditions related to the proposed offering, and other
risks and uncertainties discussed in Golden’s filings with the SEC,
including the “Risk Factors” section of Golden’s Annual Report on
Form 10-K for the year ended December 31, 2018. Golden undertakes
no obligation to update any forward-looking statements as a result
of new information, future developments or otherwise.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190408005814/en/
Investor RelationsJoseph Jaffoni, Richard Land, James
LeahyJCIR212/835-8500 or gden@jcir.com
Golden Entertainment, Inc.Charles H. ProtellChief Financial
Officer702/893-7777
Golden Entertainment (NASDAQ:GDEN)
Historical Stock Chart
From Jun 2024 to Jul 2024
Golden Entertainment (NASDAQ:GDEN)
Historical Stock Chart
From Jul 2023 to Jul 2024