J&J Gaming affiliate completes Acquisition of Nevada distributed gaming operations from Golden Entertainment!
Continues J&J Gaming’s Growth and Diversification Strategy by Expanding Operations to New States
Creates Nation’s Largest Distributed Gaming Operator
LAS VEGAS, NV, January 10, 2024 — J&J Ventures Gaming, LLC (“J&J Gaming”) announced today that its affiliate, J&J Ventures Gaming of Nevada, LLC (“JJVG Nevada”), completed the purchase of Golden Entertainment, lnc.’s distributed gaming operations in Nevada, following receipt of all necessary approvals from the Nevada Gaming Control Board and Nevada Gaming Commission. Headquartered in Illinois and majority-owned by funds managed by Oaktree Capital Management, LP. (“Oaktree”), J&J Gaming is the national leader in the installation and operation of regulated gaming devices in restaurants, bars, taverns, gaming parlors, convenience stores, truck stops and other authorized venues.
JJVG Nevada’s purchase of the Nevada operations follows the previously announced acquisition of Golden Entertainment’s Montana distributed gaming business in September 2023 by a subsidiary of J&J Gaming. The Nevada operations provide J&J Gaming access to a market that consistently leads the nation in population expansion and the largest locals gaming market. The Montana market is unique in that it has no commercial casino operations and allows locations to have up to 20 gaming devices. Together, these platforms bring 11,600 gaming terminals in more than 1,000 locations to J&J Gaming and its affiliates. On a combined basis, J&J Gaming, along with its subsidiaries and affiliates, provides gaming-as-a-service to 3,600 locations in various regulated jurisdictions.
“We and our affiliate, JJVG Nevada, are committed to preserving Golden Entertainment’s legacy in distributed gaming and the reputation it has established. By combining our strengths and leveraging Golden’s expertise, we intend to create greater value for our distributed gaming customers,” said J&J Gaming’s CEO, Bob Willenborg.
“This Nevada acquisition is an exciting new chapter for J&J as it continues to grow, not only in overall size but also geographic footprint,” said David Quick, Managing Director and Assistant Portfolio Manager in Oaktree’s Special Situations Group and Manager of JJVG Nevada. “We offer a warm welcome to all of Golden’s employees and customers from its Nevada distributed gaming business.”
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 Gaming
J&J Gaming, including its subsidiaries and affiliates, is the largest distributed gaming operator in the United States providing gaming-as-a-service to non-casino locations such restaurants, bars, taverns, convenience stores, truck stops and grocery stores in various regulated jurisdictions.
The company operates nearly 26,000 machines in 3,600 locations across Illinois, Nevada, Montana, Pennsylvania and Nebraska. To learn more about J&J, visit our website at www.jjventures.com.
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 www.oaktreecapital.com.
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