Golden Entrtnmnt Stock Price, News & Analysis

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.

Golden Entertainment (NASDAQ:GDEN) will release its 2022 Q2 financial results on August 4, 2022, after market close. A conference call will follow at 5:00 p.m. ET, open to the public for both live and replay access. The company operates over 17,000 slots, 100 table games, and 6,200 hotel rooms, with ten casinos, primarily in Southern Nevada. The replay will be available until August 11, 2022.

Golden Entertainment reported a strong first quarter for 2022, achieving revenues of $273.6 million, a 14% increase from the previous year. Net income rose to $36.1 million, or $1.12 per share, compared to $10.6 million, or $0.35 per share in Q1 2021. Adjusted EBITDA also improved by 13% to $67.3 million. The company repaid $25 million of debt and repurchased over $15 million of shares. The Board reauthorized a $50 million share repurchase program as part of their continued commitment to returning capital to shareholders.

Golden Entertainment, Inc. (NASDAQ:GDEN) will announce its 2022 Q1 financial results on May 5, 2022, after market close. A conference call and webcast will take place at 5:00 p.m. ET, which is open to the public. To participate, call (800) 920-3359 with passcode 22018469. A replay will be available after 7:00 p.m. ET on the same day until May 8, 2022. The live webcast can be accessed through the Investors section of Golden Entertainment’s website.

Golden Entertainment (NASDAQ: GDEN) reported strong fourth quarter 2021 results with revenues of $282.0 million, a 37% year-over-year increase, and net income of $19.1 million. Annual revenue reached $1.1 billion, marking a 58% growth from 2020. Adjusted EBITDA for the quarter was $67.8 million, up 72% year-over-year, while annual Adjusted EBITDA rose to $291.7 million. The company repaid $25 million in loans and bought back $10.6 million in stock. Key operating segments experienced growth, with net income per share rising to $0.59.

Golden Entertainment (NASDAQ:GDEN) will announce its 2021 fourth quarter financial results after market close on February 17, 2022. A conference call and webcast for investors will be held at 5:00 p.m. ET that same day. The conference call can be accessed by dialing (844) 465-3054, with an international option at (480) 685-5227, using passcode 6388552. A replay will begin at 8:00 p.m. ET and will be available until February 20, 2022. More details can be found on their website.

Golden Entertainment reported record third quarter revenue of $282.4 million and net income of $29.1 million for Q3 2021. Compared to Q3 2020, revenue grew significantly from $205.4 million and a net loss of $7.0 million. The company achieved an Adjusted EBITDA of $73.4 million, up from $45.9 million the previous year. Growth was driven by all casino and gaming operations. The company repaid over $50 million in debt, increasing revolver availability to $240 million. The management plans to utilize a $50 million share buyback authorization to enhance shareholder value.