J&J completes purchase of Montana distributed gaming operations from Golden Entertainment!
September 13, 2023 – J&J Ventures Gaming, LLC announced today that it completed the purchase of Golden Entertainment, Inc.’s Montana distributed gaming operations, following receipt of all necessary approvals and licenses from the Gambling Control Division of the Montana Department of Justice. Headquartered in Illinois and majority-owned by funds managed by Oaktree Capital Management, L.P. (“Oaktree”), J&J Ventures Gaming is a national leader in distributed gaming and amusements operations, now servicing nearly 4,000 locations in several jurisdictions after its Montana acquisition.
As previously announced, J&J Ventures Gaming’s agreement to acquire Golden Entertainment’s distributed gaming operations in Nevada remains pending while the parties seek regulatory approvals and the satisfaction of customary closing conditions.
“Our values and commitment to service align perfectly with Golden Entertainment’s and the distributed gaming business it built in Montana,” said J&J Ventures Gaming CEO, Bob Willenborg. “We welcome all Montana employees and customers with great honor, and we look forward to a promising future and the continued opportunities that this acquisition will bring.”
“Oaktree has enjoyed working with J&J’s management team to establish the largest revenue-generating distributed gaming operator in North America,” said David Quick, Managing Director and Assistant Portfolio Manager in Oaktree’s Special Situations Group. “We are excited to see J&J expand its national distributed gaming footprint into another respected jurisdiction.”
Taft Stettinius & Hollister LLP and Kirkland & Ellis LLP served as legal advisors and Macquarie Capital served as financial advisor to J&J Ventures Gaming, LLC.
About J&J Ventures Gaming, LLC
J&J Ventures Gaming, LLC continues to foster growth for partner establishments and advocate for small businesses. Distributed gaming creates sustainability for all partners by producing revenue and creating jobs within its host communities. Since 1929, J&J has made it a priority to invest in its partnerships as well as employees.
J&J Ventures Gaming and J&J Ventures Amusements are headquartered in Effingham, Illinois, where their predecessor, J&J Ventures, Inc., began route operations in 1929. Today, J&J Ventures Gaming is one of the largest terminal operators in Illinois, Pennsylvania, and Montana with plans to operate in Nevada, where it provides unparalleled expertise in gaming management and route operations through its 24/7 service, detailed reporting, fast and flexible payouts, a full-service marketing team, and much more. J&J Ventures Amusements is a leading operator of non-gaming devices like dart machines, pool tables, jukeboxes, ATMs, and other amusement devices across the United States. To learn more about J&J Ventures Gaming and J&J Ventures Amusements, visit www.jjventures.com or contact (855) 921-1030.
Oaktree is a leader among global investment managers specializing in alternative investments, with $179 billion in assets under management as of June 30, 2023. The firm emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in credit, private equity, real assets and listed equities. The firm has over 1,100 employees and offices in 20 cities worldwide. For additional information, please visit Oaktree’s website at http://www.oaktreecapital.com/.
Comments are closed.