Summary
- Golden Entertainment is going private through a sale-leaseback deal with VICI Properties and a management buyout by CEO Blake Sartini.
- Shareholders receive 0.902 VICI shares plus $2.75 cash per GDEN share, with the deal valuing GDEN at ~$1.2 billion and 8-9x EBITDA.
- GDEN stock now trades as a proxy for VICI, with minimal risk spread and limited upside, making the deal’s completion the main catalyst.
- Recommendation: Sell GDEN, lock in gains, and consider redeploying profits into VICI or other opportunities, as further upside is modest and risks remain.
Sister N/iStock Editorial via Getty Images
It looks like Golden Entertainment ([GDEN](https://seekingalpha.com/symbol/GDEN “Golde…
Summary
- Golden Entertainment is going private through a sale-leaseback deal with VICI Properties and a management buyout by CEO Blake Sartini.
- Shareholders receive 0.902 VICI shares plus $2.75 cash per GDEN share, with the deal valuing GDEN at ~$1.2 billion and 8-9x EBITDA.
- GDEN stock now trades as a proxy for VICI, with minimal risk spread and limited upside, making the deal’s completion the main catalyst.
- Recommendation: Sell GDEN, lock in gains, and consider redeploying profits into VICI or other opportunities, as further upside is modest and risks remain.
Sister N/iStock Editorial via Getty Images
It looks like Golden Entertainment (GDEN) just cashed in its chips.
That’s exactly what you read.
The STRAT’s operator is packing its bags and going private, but this deal’s not your usual kind
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