Everbay Capital: Sale price of $2.75 per share for RemainCo is 'significantly insufficient'
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 13 2025
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Everbay Capital's Concerns: Everbay Capital has expressed significant concerns regarding Golden Entertainment's recent transactions, including the sale of casino real estate to Vici Properties and the sale of casino operations to CEO Blake Sartini.
Inadequate Sale Price: Everbay believes the sale price of $2.75 per share for the RemainCo is insufficient, arguing it undervalues the company's operations and is an opportunistic move by the CEO to acquire the company at a low price.
Impact on Shareholder Value: The firm contends that Golden Entertainment's share price would be higher if the real estate had been sold separately from the RemainCo, suggesting a better outcome for shareholders.
Call for Transparency: Everbay is urging the Board of Directors to provide important disclosures and make changes to the Master Transaction Agreement to improve the situation for shareholders.
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Analyst Views on GDEN
Wall Street analysts forecast GDEN stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for GDEN is 28.75 USD with a low forecast of 25.00 USD and a high forecast of 30.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
5 Analyst Rating
0 Buy
5 Hold
0 Sell
Hold
Current: 27.470
Low
25.00
Averages
28.75
High
30.00
Current: 27.470
Low
25.00
Averages
28.75
High
30.00
About GDEN
Golden Entertainment, Inc. owns and operates a diversified entertainment platform, consisting of a portfolio of gaming and hospitality assets that focuses on casino and branded tavern operations. The Company operates approximately 5,500 slots, 100 table games, and 6,000 hotel rooms. The Company owns over eight casinos and 72 gaming taverns in Nevada. The Company’s segments include Nevada Casino Resorts, Nevada Locals Casinos, and Nevada Taverns. The Nevada Casino Resorts segment consists of destination casino resort properties offering a variety of food and beverage outlets, entertainment venues and other amenities. The Nevada Locals Casinos segment consists of casino properties that cater to local customers who generally live within over five-mile radius. The Nevada Taverns segment consists of branded tavern locations, which offers a casual, environment catering to local patrons offering food, craft beer and other alcoholic beverages and are limited to over 15 slot machines.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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