Nevada Gold & Casinos Announces Sale / Merger Agreement
NEVADA GOLD & CASINOS (UWN)
NASDAQ:AMEX Investor Relations:
nevadagold.com
Company Research
Source: GlobeNewswire
LAS VEGAS, Sept. 18, 2018 (GLOBE NEWSWIRE) -- Nevada Gold & Casinos, Inc. (NYSE MKT: UWN) today announced the signing of a definitive merger agreement with Maverick Casinos, LLC (“Maverick”). Under the terms of the merger agreement, Maverick will acquire all of the outstanding shares of the Company’s common stock for $2.50 per share in cash, subject to certain minor adjustments. The transaction will result in the Company becoming a private company. The Manager of Maverick is Eric Persson. An affiliate of Maverick owns the Wendover Nugget Hotel & Casino and Red Garter Hotel & Casino in Wendover, Nevada, along with various other assets. Maverick intends to fund the transaction primarily with debt financing from Nevada State Bank plus equity financing from Maverick. The transaction is not subject to a financing condition. William Sherlock, Chairman of Nevada Gold, said, “Our goal was to obtain the highest value in a sale of the Company. We believe the transaction announced today
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