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NEWS 10 August 2018

Golden Entertainment revenues soar in Q2

By Oliver Rudgewick

Golden Entertainment has recorded a rise in its second quarter revenue, rising from $110m to $216m for the three month period up to 30 June.

Net income for the quarter totalled at $3.6m, doubling the figure from the previous year of $1.7m. Adjusted EBITDA was $46.3m for the compared to $15.0m for the second quarter of 2017.

Blake L. Sartini, Chairman and CEO of Golden Entertainment, commented: “We are pleased with our second quarter results which saw revenue growth across both our casino and distributed gaming segments."

All of Golden’s eight casinos, seven in Nevada, and one in Maryland recording increased revenue for Q2.

"The effectiveness of our operational changes as well as particular strength from our Las Vegas Locals properties and our existing Laughlin resort” are the reasons behind the company's growth according to a company statement.

 H1 revenues also saw a large rise, up to $266m from $175m, with operating income rising from $7.9m to $35m.

Current assets are valued at close to $1.4bn, and outstanding debt stands at around $1bn.

 

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