Golden Entertainment to Bring Atomic Range, a New Golf Experience, to STRAT | Your money

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LAS VEGAS – (BUSINESS WIRE) – October 4, 2021–

Golden Entertainment, Inc. (NASDAQ: GDEN) (“Golden Entertainment”, “Golden” or the “Company”) today announced that it has entered into a definitive agreement with Flite Golf & Entertainment (“Flite Golf”) to bring Atomic Range , a 92,000 square foot new golf entertainment destination, on seven acres of company-owned land adjacent to the STRAT Hotel, Casino and SkyPod (“The STRAT”) in Las Vegas. The new atomic chain will be located on Las Vegas Boulevard just north and adjacent to STRAT.

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Atomic Range brings a unique golf entertainment experience to STRAT and the Las Vegas Strip. (Graphic: Business Wire)

Under the terms of the agreement, Golden Entertainment will contribute seven acres of undeveloped land to Flite Golf and share the gross revenues generated by Atomic Range under a lease agreement. Flite Golf will be responsible for all development and operating costs for the Atomic range, which will leverage Flite Golf’s next generation technology to deliver an unparalleled experience for players of all ages and abilities. Flite Golf has partnered with Century Golf, which has managed more than 500 golf facilities worldwide, to operate Atomic Range, which is expected to begin development in the second quarter of 2022 with an expected completion date by the end of 2023. Flite Golf’s construction costs are expected to be around $ 70 million and the Atomic range will create more than 500 new jobs.

Charles Protell, President and CFO of Golden Entertainment, said, “Since acquiring The STRAT, Golden has invested over $ 100 million in renovating the property and we are seeing a significant return on our capital investment. Partnering with Flite Golf to develop Atomic Range will allow us to use our excess real estate adjacent to STRAT to create a unique tour driver for our property that continues the North Strip redevelopment and investment in the city of Las Vegas. Flite Golf’s development experience, innovative technology and substantial commitment to the development of Flite Golf make it the ideal partner to develop this attraction. We’re excited to bring this new golf experience to our guests at STRAT, as well as downtown visitors, convention attendees, guests of North Strip properties, and residents of Las Vegas. “

“As we sought to bring our next-generation golf technology to the entertainment capital of the world, it was clear that Golden Entertainment and The STRAT offered a common vision and a top-notch location to maximize customer visits to Atomic Range at looking for a new unique golf course. entertainment experience, ”said John Vollbrecht, CEO and Founder of Flite Golf & Entertainment. “We look forward to our partnership with Golden and the launch of our flagship property.”

Atomic Range, a production of Flite Golf and located at STRAT, will be a premier golf entertainment destination that will deliver an immersive and technology-enhanced experience through play and entertainment. Atomic Range will span nearly seven acres, rise to four floors, and host 103 separate typing bays when it opens in 2023. It will also include four bars, meeting space, and a 12,000-square-foot Astrocade.

Renderings for To download, courtesy of Flite Golf & Entertainment

1. Atomic Range brings a unique golf entertainment experience to STRAT and the Las Vegas Strip.

2. The Atomic range will span four floors and include over 100 punch bays over 92,000 square feet.

Forward-looking statements

This press release contains forward-looking statements regarding future events and the future results of the Company which are subject to safe harbor rules 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”, “foresee”, “intend”, “be able to” “,” Plan “,” plan “,” seek “,” should “,” think “,” will “,” would “and similar expressions, or they can use future dates. In addition, forward-looking statements include statements regarding potential additional payments from Caesars relating to William Hill, the strategies, objectives and business opportunities of the Company; expected future growth and trends in the Company’s business or key markets; projections of future financial condition, results of operations, revenues, capital expenditures, costs or other financial items, including the expected future generation of cash and the resulting ability to reduce the effect leverage and return capital to shareholders; and other characterizations of future events or circumstances as well as other statements that are not statements of historical fact. Forward-looking statements are based on the Company’s current expectations and assumptions regarding its business, economy and other future conditions. These forward-looking statements are subject to assumptions, risks and uncertainties which may change at any time, and readers are therefore cautioned that actual results could differ materially from those expressed in the forward-looking statements. Factors that could cause actual results to vary materially include: uncertainty about the extent, duration and effects of the COVID-19 pandemic and the response of governments; changes in national, regional and local economic and market conditions; legislative and regulatory matters (including the cost of complying with or failing to comply with applicable laws and regulations); increases in gaming taxes and fees in the jurisdictions in which the Company operates; the Company’s ability to realize expected cost savings, synergies and other benefits from its casino and other acquisitions; litigation; increased competition; the Company’s ability to renew its distributed gaming contracts; reliance on key personnel (including our CEO, our President and CFO and our COO); the level of indebtedness of the Company and its ability to respect the restrictive covenants of its debt instruments; terrorist incidents; natural disasters; extreme weather conditions (including weather or road conditions that limit access to Company properties); the effects of environmental and structural conditions of the building; the effects of disruptions to the Company’s information technology and other systems and infrastructure; factors affecting the gaming, entertainment and hospitality industries in general; and other risks and uncertainties discussed in the Company’s filings with the SEC, including the “Risk Factors” sections of the Company’s most recent annual report on Form 10-K and quarterly reports on the Form 10-Q. The Company does not undertake to update any forward-looking statements as a result of new information, future developments or otherwise. All forward-looking statements contained in this press release are qualified in their entirety by this cautionary statement.

About Golden Entertainment, Inc.

Golden Entertainment owns and operates gaming properties in two divisions: Casino Operations and Distributed Games. Golden Entertainment operates more than 16,700 slot machines, 120 table games and 6,200 hotel rooms. Golden Entertainment has 10 resorts – nine in southern Nevada and one in Maryland. Through its distributed gaming business in Nevada and Montana, Golden Entertainment operates video game devices in more than 1,000 locations and owns more than 60 traditional taverns in Nevada. Golden Entertainment also holds a license in Illinois and Pennsylvania to operate video game terminals. For more information visit www.goldenent.com.

About Flite Golf & Entertainment

Flite Golf & Entertainment is a global golf entertainment company headquartered in Dallas. Flite builds, deploys and supports the innovative solutions needed to drive technology-enhanced ranges, whether on green grass or in a multi-million dollar entertainment venue. Using its innovative next-generation games, course games and guest management software, Flite brings a complete technology solution to existing course operators as well as entirely new venues looking to deliver a contemporary golf entertainment experience. . Flite is a turnkey solution that boosts golf entertainment. For more information, please visit www.flitegolf.com.

About Century Golf Entertainment

Century Golf is the most experienced management team in the club and golf industry, having operated over 500 golf courses, golf resorts, country clubs, city clubs, stadiums and sports clubs. Century Golf owns and / or operates clubs and courses throughout the United States, including PGA WEST and the Citrus Club in La Quinta, California and Walt Disney World Golf in Orlando, Florida. The company has developed a golf entertainment division headed by Brian Birckbichler, an experienced COO formerly with Topgolf and Drive Shack, to expand its operations. For more information, please visit www.centurygolf.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20211004005218/en/

CONTACT: Golden Entertainment, Inc.

Charles H. Protell

President and Chief Financial Officer

702 / 893-7777 Investor Relations

Richard Land

JCIR

212 / 835-8500 [email protected]

KEYWORD: UNITED STATES NORTH AMERICA NEVADA

INDUSTRY KEYWORD: SPORT COMMERCIAL BUILDING AND REAL ESTATE TECHNOLOGY CONSTRUCTION AND PROPERTY CASINO / GOLF GAMES GENERAL ENTERTAINMENT ENTERTAINMENT OTHER TECHNOLOGY SOFTWARE OTHER ENTERTAINMENT

SOURCE: Golden Entertainment, Inc.

Copyright Business Wire 2021.

PUB: 04/10/2021 11:00 a.m. / DISC: 04/10/2021 11:02 a.m.

http://www.businesswire.com/news/home/20211004005218/en


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