Shining a light on Golden Entertainment's "wealth transfer" $GDEN
NOV 11, 202525 MIN
Shining a light on Golden Entertainment's "wealth transfer" $GDEN
NOV 11, 202525 MIN
Description
<p>On the heels of sending an open letter to the Golden Entertainment's (GDEN; disclosure: long) board, host Andrew Walker dives deeper into Golden's take private deal and why he believes it transfers ~$300m of value from minority shareholders to insiders.</p><p><a href="https://www.yetanothervalueblog.com/p/an-open-letter-to-the-golden-entertainment" target="_blank" rel="ugc noopener noreferrer">Open letter to GDEN board</a>: https://www.yetanothervalueblog.com/p/an-open-letter-to-the-golden-entertainment</p><p>___________________________________________________________</p><p>[00:00:02] Intro to special episode</p><p>[00:03:26] Comparison to Louvre heist</p><p>[00:04:20] Smoking guns and IR site change</p><p>[00:07:35] Sale leaseback structure details</p><p>[00:09:15] Valuation analysis and critique</p><p>[00:13:30] Everbay letter and valuation math</p><p>[00:16:45] Management buyout vs. fair value</p><p>[00:19:00] Critique of go-shop process</p><p>[00:21:10] Regulatory hurdles for go-shop</p><p>[00:23:40] Call for fair deal structure</p><p>[00:24:50] Closing thoughts and disclaimer</p><p>Links:</p><p>Yet Another Value Blog - https://www.yetanothervalueblog.com </p><p>See our legal disclaimer here: https://www.yetanothervalueblog.com/p/legal-and-disclaimer</p>
![<p>On the heels of sending an open letter to the Golden Entertainment's (GDEN; disclosure: long) board, host Andrew Walker dives deeper into Golden's take private deal and why he believes it transfers ~$300m of value from minority shareholders to insiders.</p><p><a href="https://www.yetanothervalueblog.com/p/an-open-letter-to-the-golden-entertainment" target="_blank" rel="ugc noopener noreferrer">Open letter to GDEN board</a>: https://www.yetanothervalueblog.com/p/an-open-letter-to-the-golden-entertainment</p><p>___________________________________________________________</p><p>[00:00:02] Intro to special episode</p><p>[00:03:26] Comparison to Louvre heist</p><p>[00:04:20] Smoking guns and IR site change</p><p>[00:07:35] Sale leaseback structure details</p><p>[00:09:15] Valuation analysis and critique</p><p>[00:13:30] Everbay letter and valuation math</p><p>[00:16:45] Management buyout vs. fair value</p><p>[00:19:00] Critique of go-shop process</p><p>[00:21:10] Regulatory hurdles for go-shop</p><p>[00:23:40] Call for fair deal structure</p><p>[00:24:50] Closing thoughts and disclaimer</p><p>Links:</p><p>Yet Another Value Blog - https://www.yetanothervalueblog.com </p><p>See our legal disclaimer here: https://www.yetanothervalueblog.com/p/legal-and-disclaimer</p>](https://us-central1-podcastguru-217d6.cloudfunctions.net/gcf_get_image?image_url=https://is1-ssl.mzstatic.com/image/thumb/Podcasts122/v4/59/e5/14/59e514e5-67cf-2165-de6f-f74b2325f1a6/mza_833628887940046125.jpg/600x600bb.jpg&width=300&height=300&api_key=xqFmUFX5BHLBTA)
