EVERBAY CAPITAL RELEASES FOLLOW-UP LETTER TO GOLDEN ENTERTAINMENT'S BOARD OF DIRECTORS, EXPRESSING SIGNIFICANT CONCERNS ABOUT THE ANNOUNCED TRANSACTIONS
Concerns Over Sale Price: Everbay Capital LP criticizes the sale price of $2.75 per share for RemainCo, arguing it undervalues the company's operations and is a strategic move by CEO Blake Sartini to acquire it at a discount following a drop in stock price.
Call for Transparency: Everbay urges the Board of Directors to provide disclosures regarding the sale process, including whether other potential buyers were contacted and the rationale for bundling the sale of RemainCo with the real estate transaction.
Timing of Transactions: The timing of the transactions, announced shortly after the company's stock hit a four-year low, raises suspicions that they were designed to benefit Sartini at the expense of shareholders, who could have received a higher value by selling the real estate separately.
Request for Shareholder Approval: Everbay demands that the Board allow shareholders to vote separately on the real estate and RemainCo transactions, emphasizing the need for a fair process that does not favor insider bidders.
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Gaming and Leisure Properties Announces $3.10 Per Share Tax Allocation for 2025 Distributions
- Total Distributions: Gaming and Leisure Properties announced a total distribution of $3.10 per share for 2025, demonstrating the company's ongoing cash flow and commitment to shareholder returns, which enhances investor confidence.
- Tax Allocation Details: The tax allocation for the 2025 distributions has not yet been filed, calculated based on the best available information, indicating the company's efforts in tax transparency that may impact shareholders' tax planning.
- Composition of Dividends: The 2025 distributions include $3.00 in ordinary dividends and $0.001832 in capital gain distributions, reflecting the company's robust capital management strategy aimed at optimizing shareholder value.
- Investor Advisory: The company advises shareholders to consult tax advisors to ensure proper tax treatment of distributions under federal and local tax laws, demonstrating a commitment to shareholder interests and compliance awareness.
ETF Movers on Friday: ONEV, URA
Uranium ETF Performance: The Uranium ETF is underperforming, down approximately 4.9% in Friday afternoon trading.
Weakest Components: Key contributors to this decline include Centrus Energy, which fell by about 7.6%, and Uranium Energy, which decreased by about 7.3%.
Market Context: The performance of the Uranium ETF contrasts with other ETFs on the market today.
Author's Disclaimer: The views expressed in the article are those of the author and do not necessarily reflect the opinions of Nasdaq, Inc.
