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EVERBAY CAPITAL RELEASES FOLLOW-UP LETTER TO GOLDEN ENTERTAINMENT'S BOARD OF DIRECTORS, EXPRESSING SIGNIFICANT CONCERNS ABOUT THE ANNOUNCED TRANSACTIONS
EVERBAY CAPITAL RELEASES FOLLOW-UP LETTER TO GOLDEN ENTERTAINMENT'S BOARD OF DIRECTORS, EXPRESSIN...
About this update from Clairvest Group Inc.
[{"type":"text","content":"EVERBAY CAPITAL RELEASES FOLLOW-UP LETTER TO GOLDEN ENTERTAINMENT'S BOARD OF DIRECTORS, EXPRESSING SIGNIFICANT CONCERNS ABOUT THE ANNOUNCED TRANSACTIONS\n\n\nEVERBAY CAPITAL RELEASES FOLLOW-UP LETTER TO GOLDEN ENTERTAINMENT'S BOARD OF DIRECTORS, EXPRESSING SIGNIFICANT CONCERNS ABOUT THE ANNOUNCED TRANSACTIONS\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntar{\nTEXT-ALIGN: RIGHT\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\nPR Newswire\n\n\nBelieves that the RemainCo sale price of $2.75 per share is woefully inadequate, apparently valuing the company's casino operations and tavern business at a fraction of where it should trade, let alone be sold for. \nViews the RemainCo sale as an opportunistic attempt by the CEO to take advantage of company's stock price hitting a 4-year low to purchase the RemainCo at a deeply discounted price, financed by the sale of the Company's valuable real estate.  \nExpresses the view that Golden would likely trade at a significantly higher share price today had the Board sold the real estate without selling RemainCo.  \nCalls on the Board and all parties to the Master Transaction Agreement to expeditiously provide important disclosures and make certain changes to the agreement to give Golden shareholders the chance of a better outcome.\nPR Newswire\nNEW YORK, Nov. 13, 2025 /PRNewswire/ -- Today, Everbay Capital LP (\"Everbay\"), a New York-based alternative investment management firm, which manages funds which have been shareholders of Golden Entertainment Inc. (NASDAQ: GDEN), a Minnesota corporation (the \"Company\"), since 2021, released a new letter to the Company's Board of Directors, following up on the letter it sent last week. In the new letter, Everbay expresses significant concerns regarding the transactions announced last week, including the sale of the company's casino real estate to Vici Properties Inc. (NYSE: VICI) and the sale of the company's casino operations and tavern business (\"RemainCo\") to the company's Chairman & CEO, Blake L. Sartini (the \"Transactions\"). Everbay further clarifies that while the press r...