J&J Ventures Gaming’s affiliates, including J&J Ventures Gaming of Nevada and its parent company, JJVG Holdings, received approval Thursday from the Nevada Gaming Commission to integrate Golden Route Operations into J&J Gaming’s Nevada distributed gaming route operations.
Headquartered in Illinois and majority-owned by funds managed by southern California-based Oaktree Capital Management, J&J Gaming is a national leader in the installation and operation of regulated gaming devices in restaurants, bars, taverns, gaming parlors, convenience stores, truck stops, and other authorized venues.
These approvals follow J&J Gaming’s previous acquisition of Golden Route Operations Montana’s distributed gaming business in September 2023. Combined, the acquisitions add 11,900 gaming terminals at more than 1,000 partner locations to J&J Gaming’s portfolio. Together with its subsidiaries and affiliates, J&J Gaming now delivers gaming services to more than 3,600 establishments across various regulated markets, including Illinois, Nevada, Montana, Pennsylvania, and Nebraska. It operates nearly 26,000 machines.
“The official approvals from the Nevada Gaming Control Board and Nevada Gaming Commission mark an exciting new chapter for J&J Gaming,” said Bob Willenborg, CEO of J&J Gaming who was also licensed Thursday. “We’re thrilled to officially incorporate Golden Route Operations into our company’s operations, expanding our commitment to uphold the high standards of service and excellence established in Nevada’s distributed gaming market.”
With the official approvals secured in Nevada, J&J will continue to “expand both in size and into new geographical regions,” said David Quick, managing director and assistant portfolio manager in Oaktree’s Special Situations Group. “This milestone enhances J&J’s market presence and reinforces our shared commitment to driving value and innovation in Nevada’s gaming sector.”
Oaktree is a leader among global investment managers specializing in alternative investments, with $205 billion in assets under management as of September 30. The firm emphasizes an opportunistic, value-oriented, and risk-controlled approach to investments in credit, equity, and real estate, with more than 1,200 employees and offices in 23 cities worldwide.
Oaktree is the owner of the Casablanca Resort and Virgin River Hotel & Casino in Mesquite where they have outlined improvements being made to their properties that were reiterated on Thursday. A year ago in November, the Commission approved the deal of the two Mesquite casinos from gaming legacy families to the Los Angeles-based private equity firm.
Michael Gaughan, owner of the South Point Casino, had owned 35% of Mesquite Gaming, along with Anthony Toti Gaming Trust and Newport Global Advisors LP, a Texas-based investment company.
Oaktree has already reinvested millions of dollars this year in both properties, $6 million alone for new slot machines on the floors and remodeling the Casablanca floor, including turning a vacant movie theater into a sportsbook.
