June 12, 2017 / 11:19 AM / in 4 months

BRIEF-Golden Entertainment to acquire American Casino & Entertainment Properties

June 12 (Reuters) - Golden Entertainment Inc

* Golden Entertainment enters into definitive agreement to acquire American Casino & Entertainment Properties for $850 million

* Acquisition to significantly increase revenues and EBITDA, expected to be immediately accretive to cash flow and earnings per share

* Expects to achieve approximately $18 million of annual run-rate synergies post-closing

* Acquisition to significantly increase revenues and EBITDA, expected to be immediately accretive to cash flow and earnings per share

* Deal to consist of $781 million cash plus about four million shares of co’s stock issued to Whitehall Street Real Estate Partners 2007

* After closing, co will operate over 15,800 slot machines, 114 table games, more than 5,100 hotel rooms across 8 casino properties

* Has received committed financing totaling $1.1 billion to fund cash consideration and to refinance golden’s existing credit facilities

* Financing commitment includes a $100 million revolving credit facility to support Golden’s future organic and strategic growth initiatives Source text for Eikon: Further company coverage:

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