Golden Entertainment to acquire two Nevada casinos
Monday 16 de July 2018 / 13:58
⏱ 1 min read
(United States).- Golden Entertainment (NASDAQ:GDEN) announces that it acquired the Edgewater Hotel & Casino Resort and the Colorado Belle Hotel & Casino Resort in Laughlin, Nevada from Marnell Gaming LCC.
The purchase price will land between $168M and $190M based on an 8.0X multiple of the combined trailing twelve months adjusted EBITDA of both properties as of November. The company says that including expected cost synergies and cash acquired, the purchase price is expected to represent an implied trailing twelve months adjusted EBITDA multiple of 6.5X.
The transaction will be financed with incremental debt under the Golden Entertainment's credit facility and cash on hand.
The company expects the acquisition to be cash flow positive and immediately accretive to operating results.
Categoría:Casino
Tags: Sin tags
País: United States
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