Golden Entertainment Q2 revenue decreases 41.6%
The company reported revenue of $167.3m in the second quarter of 2024.
US.- Gambling operator Golden Entertainment has reported second-quarter revenue of $167.3m, down 41.6 per cent from Q2 2023. Adjusted EBITDA was $41.2m compared to $58.4m for the second quarter of 2023.
The declines were primarily related to the exclusion of results from Rocky Gap Casino Resort and distributed gaming operations in Montana and Nevada, which were sold on July 25, 2023, September 13, 2023, and January 10, 2024, respectively.
Net income for the second quarter of 2024 was $0.6m, or $0.02 per fully diluted share, compared to $12.3m, or $0.40 per fully diluted share, for the second quarter of 2023.
See also: Golden Entertainment appoints Blake Sartini II as COO
Blake Sartini, chairman and chief executive officer of Golden Entertainment, said: “In the second quarter, we continued to strengthen our balance sheet by fully repaying our outstanding bonds in April and reducing our interest rate on our term loan in May. We also aggressively returned capital to shareholders through our recurring dividend and repurchasing nearly one million shares. Our healthy operating cash flow and strong balance sheet will continue to provide us with strategic and financial flexibility while we return capital to shareholders throughout the year.”
