Golden Entertainment, Inc. and its wholly-owned subsidiaries (collectively, the “Company”) own and operate a diversified entertainment platform, consisting of a portfolio of gaming assets that focus on resort casino operations and distributed gaming (including gaming in the Company’s branded taverns).

The Company conducts its business through two reportable operating segments: Casinos and Distributed Gaming. The Company’s Casino segment involves the operation of ten resort casino properties in Nevada and Maryland, comprising:

The STRAT Hotel, Casino & SkyPod ("The Strat")		Las Vegas, Nevada
Arizona Charlie's Decatur		Las Vegas, Nevada
Arizona Charlie's Boulder		Las Vegas, Nevada
Aquarius Casino Resort ("Aquarius")		Laughlin, Nevada
Edgewater Hotel & Casino Resort ("Edgewater")		Laughlin, Nevada
Colorado Belle Hotel & Casino Resort ("Colorado Belle")		Laughlin, Nevada
Pahrump Nugget Hotel Casino ("Pahrump Nugget")		Pahrump, Nevada
Gold Town Casino		Pahrump, Nevada
Lakeside Casino & RV Park		Pahrump, Nevada
Rocky Gap Casino Resort ("Rocky Gap")		Flintstone, Maryland

The Company’s Distributed Gaming segment involves the installation, maintenance and operation of slots and amusement devices in non-casino locations such as restaurants, bars, taverns, convenience stores, liquor stores and grocery stores in Nevada and Montana, and the operation of branded taverns targeting local patrons located primarily in the greater Las Vegas, Nevada metropolitan area.

On April 25, 2019, the Company issued $375 million of 7.625% Senior Notes due 2026 (the “2026 Notes”) in a private placement to institutional buyers at face value. The 2026 Notes bear interest at 7.625%, payable semi-annually on April 15th and October 15th of each year. The net proceeds of the 2026 Notes were used to (i) repay the Company’s former $200 million second lien term loan (the “Second Lien Term Loan”), (ii) repay outstanding borrowings under the Company’s revolving credit facility under the Company’s senior secured credit facility with JPMorgan Chase Bank, N.A. (as administrative agent and collateral agent), the lenders party thereto and the other entities party thereto (the “Credit Facility”), (iii) repay $18 million of the outstanding term loan indebtedness under the Credit Facility, and (iv) pay accrued interest, fees and expenses related to each of the foregoing. See Note 8, Debt, in the accompanying consolidated financial statements for additional information.

On January 14, 2019, the Company completed the acquisition of Edgewater Gaming, LLC and Colorado Belle Gaming, LLC (the “Laughlin Entities”) from Marnell Gaming, LLC (“Marnell”) for $156.2 million in cash (after giving effect to the post-closing adjustment provisions in the purchase agreement) and the issuance of 911,002 shares of the Company’s common stock to certain assignees of Marnell (the “Laughlin Acquisition”). The results of operations of the Laughlin Entities are included in the Company’s results subsequent to the acquisition date. See Note 4, Acquisitions, for information regarding the Laughlin Acquisition.

On October 20, 2017, the Company completed the acquisition of American Casino and Entertainment Properties LLC (“American”) from its former equity holders (the “American Acquisition”). The results of operations of American and its subsidiaries have been included in the Company’s results subsequent to the acquisition date. See Note 4, Acquisitions, for information regarding the American Acquisition.