Golden Entrtnmnt Stock Price, News & Analysis

Golden Entertainment, Inc. (NASDAQ:GDEN) announced that it will release its 2023 first quarter financial results after the market closes on May 10, 2023. A conference call will be held at 5:00 p.m. ET to discuss the results, and it will be accessible to the public via phone and webcast. The call can be accessed by dialing (833) 816-1405 or internationally at (412) 317-0498, with a replay available until May 17, 2023. Golden operates a diversified entertainment platform with nearly 16,800 slots, over 100 table games, and over 6,200 hotel rooms. The company owns ten casinos and more than 60 gaming taverns in Nevada, providing extensive gaming options and hospitality services.

Golden Entertainment, Inc. (NASDAQ: GDEN) announced the divestiture of its distributed gaming operations in Nevada and Montana for a total cash consideration of $322.5 million, plus an estimated $39 million in cash at closing. J&J Ventures Gaming, LLC will acquire these operations for $213.5 million in Nevada and $109 million in Montana. This transaction represents a multiple of approximately 9.0x the Adjusted EBITDA of $44 million for the segment as of December 31, 2022. Golden will also enter a five-year agreement with J&J Gaming to support operations at its tavern locations, focusing management and capital on its casino and tavern portfolio.

Golden Entertainment (NASDAQ: GDEN) reported its fourth quarter and full year 2022 results, with fourth quarter revenue at $279.7 million, down 1% year-over-year, and net income of $11.1 million. For the full year, the company achieved revenues of $1.1 billion and net income of $82.3 million. Adjusted EBITDA for Q4 was $63.7 million, decreasing from $67.8 million in Q4 2021. The company repaid $27 million in outstanding debt during the quarter, totaling $116 million for the year, and repurchased over 1.1 million shares of common stock in 2022. The sale of Rocky Gap Casino Resort is expected to close in Q2 2023, potentially increasing liquidity.

Golden Entertainment (NASDAQ:GDEN) announced that it will release its 2022 fourth quarter and full year financial results after the market closes on March 1, 2023. A conference call and webcast will follow at 5:00 p.m. ET, open to the public. Investors can join by dialing (844) 826-3033, with international access at (412) 317-5185. A replay will be available from 8:00 p.m. ET until March 8, 2023, using the passcode 10175119. Additional information can be found on the Company's website, www.goldenent.com.

Golden Entertainment reported Q3 2022 revenue of $279.0 million, a slight 1% decline from Q3 2021. Net income was $14.0 million, down from $29.1 million year-over-year, and Adjusted EBITDA also fell by 17% to $61.1 million. The company announced plans to sell the Rocky Gap Casino Resort for $260 million, expected to close in Q2 2023. Additionally, they repaid $25 million of term loan debt and authorized a $75 million stock buyback program. The company remains optimistic about ongoing business trends.

Golden Entertainment, Inc. (NASDAQ:GDEN) will unveil its 2022 third quarter financial results on November 3, 2022, post-market closure. An accessible conference call and webcast will follow at 5:00 p.m. ET, allowing public participation. The call can be accessed by phone or via the Company’s website. A replay will be available until November 10, 2022. Golden Entertainment operates a diverse portfolio including nearly 17,000 slots and ten casinos across major locations.

VICI Properties Inc. has announced a definitive agreement to acquire Rocky Gap Casino Resort from Golden Entertainment for $260 million. The acquisition includes approximately $203.9 million for the property and $56.1 million for operating assets. This transaction will be instantly accretive, increasing annual rent by $15.5 million and extending the Century Master Lease by 15 years. The deal is expected to close mid-2023, pending regulatory approvals.

Golden Entertainment announced the sale of Rocky Gap Casino Resort for a total cash consideration of $260 million. Century Casinos will acquire operations for $56.1 million, while VICI Properties will purchase the land and buildings for $203.9 million. The deal reflects about 10x Adjusted Property EBITDA for the trailing twelve months ended June 30, 2022. Expected to close by mid-2023 pending regulatory approvals, this transaction aims to enhance Golden's focus on core markets and is seen as a strategic move to improve financial flexibility and shareholder value.

Golden Entertainment reported Q2 2022 revenues of $289.4 million, a 1% decline year-over-year. Net income was $21.2 million, or $0.67 per diluted share, significantly down from $103.0 million in Q2 2021. Adjusted EBITDA fell 18% to $75.0 million, with a margin of 26%. The company has reduced debt by $200 million since 2021 and allocated $60 million for share repurchases. Despite challenges, Golden aims to maintain a strong balance sheet and return capital to shareholders.