EVERBAY CAPITAL RELEASES FOLLOW-UP LETTER TO GOLDEN ENTERTAINMENT'S BOARD OF DIRECTORS, EXPRESSING SIGNIFICANT CONCERNS ABOUT THE ANNOUNCED TRANSACTIONS
Believes that the RemainCo sale price of $2.75 per share is woefully inadequate, apparently valuing the company's casino operations and tavern business at a fraction of where it should trade, let alone be sold for.
Views the RemainCo sale as an opportunistic attempt by the CEO to take advantage of company's stock price hitting a 4-year low to purchase the RemainCo at a deeply discounted price, financed by the sale of the Company's valuable real estate.
Expresses the view that Golden would likely trade at a significantly higher share price today had the Board sold the real estate without selling RemainCo.
Calls on the Board and all parties to the Master Transaction Agreement to expeditio
