J&J acquires Golden Entertainment

J&J Ventures Gaming, LLC enters into an agreement to acquire Golden Route Operations, LLC and will become the largest revenue producing distributed gaming operator in North America

March 6, 2023 – J&J Ventures Gaming, LLC, an Illinois based leader in distributed gaming and amusements operations which is majority-owned by funds managed by Oaktree Capital Management, L.P. (“Oaktree”), announces further expansion into the Western United States as they enter into an agreement to acquire Golden Entertainment’s distributed gaming segment. Golden Entertainment, headquartered in Las Vegas, NV, has nearly 1,100 locations combined in Nevada and Montana and are known for creating world-class experiences for the past 20 years. With this purchase, J&J now serves nearly 4,500 locations in gaming and amusements.

“Golden Entertainment has created a brilliant business model. They have been a trailblazer in the entertainment industry and have kept service and integrity at the forefront. J&J’s values align, which made the decision to acquire effortless. We are honored to welcome all Golden customers and employees and look forward to new growth opportunities,” said J&J Gaming’s CEO, Bob Willenborg.

Golden Entertainment’s Executive Vice President of Operations, Blake Sartini II stated, “J&J Gaming has a proven track record and a very respectable reputation, they bring a wealth of knowledge and experience to our route customers and employees. As we move forward, the future is bright as new leadership steps in to oversee Golden Route Operations.”

David Quick, Managing Director and Assistant Portfolio Manager in Oaktree’s Special Situations Group, added, “Oaktree is thrilled to partner with the outstanding employees of J&J and Golden to create the largest distributed gaming operator in North America by revenue. We are excited for the future of distributed gaming and additional expansion opportunities.”
Taft 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 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 Gaming is one of the largest terminal operators in Illinois and Pennsylvania, 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 Amusements is a leading operator of non-gaming devices like dart machines, pool tables, jukeboxes, ATMs, and other amusement devices. To learn more about J&J Gaming and J&J Amusements, visit www.jjventures.com or contact (855) 921-1030.

About Oaktree
Oaktree is a leader among global investment managers specializing in alternative investments, with $170 billion in assets under management as of December 31, 2022. 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 1,050 employees and offices in 20 cities worldwide. For additional information, please visit Oaktree’s website at http://www.oaktreecapital.com/.