Golden Ent reports 4Q18 loss
The company reported an increase in both revenue and net loss for the fourth quarter of 2018.
US.- Golden Entertainment has released its latest financial results, which indicate that during the fourth quarter of 2018 the company registered revenues of US$210 million and a net loss of US$25.9 million.
The US$210.1 million in revenues were approximately US$25 million high when compared to the US$183.7 million registered during the same period a year before. The net loss doubled from the US$13.5 million in the previous year, while adjusted EBITDA was up 1.9% at US$34.4 million, up from US$28.9 million.
Blake Sartini, CEO and Chairman of Golden Ent, explained that 2018 was a transitional year with contract renegotiations and an expansion in its branded tavern portfolio with three new locations opening throughout the year. Sartini confirmed that the company is planning six more openings for the first half of 2019.
