Shareholders of Golden Entertainment have given their approval for a deal that will take the casino operator private, a transaction that involves Chief Executive Blake L. Sartini and VICI Properties.
This decision was made during a special meeting where the master transaction agreement garnered 20.4 million votes in favor, while 208,131 votes were cast against it, alongside 20,158 abstentions. Additional proposals related to executive compensation linked to the deal were also approved, despite receiving 2.3 million opposing votes.
The transaction, which was initially announced earlier, is anticipated to finalize in the second quarter of 2026, pending regulatory approvals and standard closing conditions. Once completed, Golden Entertainment will no longer be publicly traded, leading to the delisting of its shares from Nasdaq and deregistration under the Securities Exchange Act of 1934.
This deal values the company at $30 per share, representing a 40% premium over its closing price on November 5. Shareholders will receive approximately 0.9 shares of VICI Properties stock and around $2.75 in cash for each share they own.
As part of the agreement, Golden Entertainment will transfer seven casino real estate assets to VICI Properties through a sale-leaseback arrangement. The assets include The STRAT Hotel located on the Las Vegas Strip, two Arizona Charlie’s properties in Las Vegas, as well as additional properties in Laughlin and Pahrump, Nevada.
“I believe this transaction maximizes value for our shareholders by providing a significant premium to our current share price,” Sartini stated.
“We are excited to merge our high-quality Nevada casino real estate with one of the most appealing experiential real estate platforms in the country, partnering to unlock value in our company and explore future opportunities,” he added. Golden Entertainment operates eight casinos and 73 gaming taverns in Nevada, featuring around 5,500 slot machines, 80 table games, and approximately 6,000 hotel rooms.
“Since founding Golden in 2001, I have prioritized delivering exceptional service to our guests on the Las Vegas Strip, at our regional resorts in Nevada, local casinos, and leading taverns,” Sartini remarked.
“This mission will remain unchanged, and I am truly honored to lead Golden’s 5,000 employees into the next phase of our evolution as a private company.”
VICI Properties, an S&P 500 real estate investment trust, manages 93 experiential assets, including 54 gaming properties, with a portfolio covering about 127 million square feet and approximately 60,300 hotel rooms.
Recently, Golden Entertainment reported fourth-quarter adjusted earnings per share of -$0.33, which fell short of analyst expectations of $0.17, while revenue of $155.6 million also did not meet forecasts. Analysts predict that the company will return to profitability this year.
The final voting results from the special meeting will be disclosed in a Form 8-K submitted to the U.S. Securities and Exchange Commission.