{"id":1220415,"date":"2025-02-27T21:54:52","date_gmt":"2025-02-27T21:54:52","guid":{"rendered":"https:\/\/celebrity.land\/pt\/?p=1220415"},"modified":"2025-02-27T21:54:52","modified_gmt":"2025-02-27T21:54:52","slug":"golden-entertainment-reports-2024-fourth-quarter-and-full-year-2024-results","status":"publish","type":"post","link":"https:\/\/celebrity.land\/pt\/golden-entertainment-reports-2024-fourth-quarter-and-full-year-2024-results\/","title":{"rendered":"Golden Entertainment Reports 2024 Fourth Quarter and Full Year 2024 Results"},"content":{"rendered":"\n
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LAS VEGAS, February 27, 2025<\/b>–(BUSINESS WIRE<\/a>)–Golden Entertainment, Inc. (NASDAQ: GDEN) (“Golden Entertainment” or the “Company”) today reported financial results for the fourth quarter and full year ended December 31, 2024. In addition, on February 25, 2025, the Company\u2019s Board of Directors authorized the Company\u2019s next recurring quarterly cash dividend of $0.25 per share of the Company\u2019s outstanding common stock payable on April 2, 2025 to shareholders of record as of March 21, 2025.<\/p>\n

Blake Sartini, Chairman and Chief Executive Officer of Golden, commented, “Our fourth quarter performance improved sequentially over the third quarter and we anticipate business conditions will continue to improve in 2025. For 2025, we remain focused on investing in our own assets, returning capital to shareholders and pursuing potential strategic opportunities.”<\/p>\n

The Company repurchased 1.1 million shares of common stock in the fourth quarter at an average price of $32.65 per share for a total of $36.2 million. During 2024, the Company repurchased 2.9 million shares of common stock in the aggregate at an average price of $31.63 per share for a total of $91.5 million. In 2024, the Company also paid aggregate cash dividends of $21.3 million.<\/p>\n

Consolidated Results<\/span><\/b><\/p>\n

The Company reported fourth quarter 2024 revenues of $164.2 million, compared to revenues of $230.7 million for the fourth quarter 2023. Net income for the fourth quarter 2024 was $3.0 million, or $0.10 per fully diluted share, compared to net loss of $9.4 million, or a loss of $0.33 per share, for the fourth quarter 2023 (which reflected an asset impairment charge of $12.1 million related to the Colorado Belle Casino Resort, the operations of which remain suspended). Fourth quarter 2024 Adjusted EBITDA was $39.2 million, compared to Adjusted EBITDA of $48.8 million for the fourth quarter of 2023. Fourth quarter 2024 declines in revenues and Adjusted EBITDA over the prior year period were primarily related to the exclusion from the current year period of the results for the Company\u2019s distributed gaming operations in Nevada that were sold on January 10, 2024.<\/p>\n

The Company reported full year 2024 revenues of $666.8 million, compared to revenues of $1.1 billion for 2023. Net income for the full year 2024 was $50.7 million, or $1.71 per fully diluted share, compared to $255.8 million, or $8.31 per fully diluted share, for 2023. Net income and diluted earnings per share for the full year 2024 included the benefit of the $69.2 million gain on the sale of distributed gaming operations in Nevada completed on January 10, 2024, compared to the $303.2 million gain on the sales of the Rocky Gap Casino Resort and distributed gaming operations in Montana completed on July 25, 2023 and September 13, 2023, respectively. Full year 2024 Adjusted EBITDA was $155.4 million, compared to Adjusted EBITDA of $222.5 million for 2023. Full year 2024 declines in revenues and Adjusted EBITDA over the prior year were primarily related to the exclusion of the results of Rocky Gap Casino Resort and distributed gaming operations in Montana and Nevada discussed above after their respective dates of sale.<\/p>\n