Golden Entertainment Closes Senior Notes Offering

LAS VEGAS–(BUSINESS WIRE)–Golden Entertainment, Inc. (Nasdaq: GDEN) (“Golden”) announced today the
closing of its previously announced private offering of $375 million in
aggregate principal amount of 7.625% senior unsecured notes due 2026
(the “Notes”). Golden intends to use the net proceeds of the offering to
(i) repay all of the outstanding indebtedness under its existing Second
Lien Credit Agreement, dated as of October 20, 2017, (ii) repay all of
the outstanding revolving indebtedness under its existing First Lien
Credit Agreement, dated as of October 20, 2017 (as amended, restated or
otherwise modified from time to time, the “Existing First Lien Credit
Agreement”), (iii) repay a portion of the outstanding term loan
indebtedness under the Existing First Lien Credit Agreement, and (iv)
pay accrued interest, fees and expenses related to each of the foregoing.

The Notes were offered and sold only to persons reasonably believed to
be qualified institutional buyers pursuant to Rule 144A under the
Securities Act of 1933, as amended (the “Securities Act”) and to
non-U.S. persons in transactions outside the United States pursuant to
Regulation S under the Securities Act.

The Notes have not been registered under the Securities Act, or any
state securities laws and, unless so registered, may not be offered or
sold in the United States except pursuant to an exemption from, or in a
transaction not subject to, the registration requirements of the
Securities Act and applicable state securities laws. This press release
does not constitute an offer to sell or the solicitation of an offer to
buy the securities described herein, nor shall there be any sale of
these securities in any jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction.

About Golden Entertainment, Inc.

Golden owns and operates gaming properties across two divisions – casino
operations and distributed gaming. Golden operates approximately 17,340
slots, 162 table games, and 7,318 hotel rooms, and provides jobs for
approximately 8,100 team members. Golden owns ten casino resorts – nine
in Southern Nevada and one in Maryland. Through its distributed gaming
business in Nevada and Montana, Golden operates video gaming devices at
over 1,000 locations and owns over 60 traditional taverns in Nevada.
Golden is also licensed in Illinois and Pennsylvania to operate video
gaming terminals.

Forward Looking Statements

This press release contains forward-looking statements regarding future
events, including statements regarding the proposed private offering,
that are subject to the safe harbors created under the Securities Act of
1933 and the Securities Exchange Act of 1934. Forward-looking statements
can generally be identified by the use of words such as “anticipate,”
“believe,” “continue,” “could,” “estimate,” “expect,” “forecast,”
“intend,” “may,” “plan,” “project,” “potential,” “seek,” “should,”
“think,” “will,” “would” and similar expressions, or they may use future
dates. Forward-looking statements in this press release include, without
limitation, statements regarding Golden’s expectations as to the
completion, timing and size of the proposed private offering, and the
anticipated use of proceeds therefrom. These forward-looking statements
are subject to assumptions, risks and uncertainties that may change at
any time, and readers are therefore cautioned that actual results could
differ materially from those expressed in any forward-looking
statements. Factors that could cause actual results to differ include,
among other things: risks and uncertainties associated with market
conditions and the satisfaction of customary closing conditions related
to the proposed offering, and other risks and uncertainties discussed in
Golden’s filings with the SEC, including the “Risk Factors” section of
Golden’s Annual Report on Form 10-K for the year ended December 31,
2018. Golden undertakes no obligation to update any forward-looking
statements as a result of new information, future developments or


Investor Relations
Joseph Jaffoni, Richard Land, James Leahy

Golden Entertainment, Inc.
Charles H. Protell
Chief Financial

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