Golden Entertainment Inc ( (GDEN) ) has released its Q4 earnings. Here is a breakdown of the information Golden Entertainment Inc presented to its investors.
Golden Entertainment, Inc. operates a diversified entertainment platform with gaming and hospitality assets, including casinos and gaming taverns primarily in Nevada.
Golden Entertainment reported its financial results for the fourth quarter and full year of 2024, highlighting a sequential improvement in performance over the third quarter. The company also announced a quarterly cash dividend of $0.25 per share, reflecting its commitment to returning capital to shareholders.
In the fourth quarter of 2024, Golden Entertainment achieved revenues of $164.2 million, a decrease from $230.7 million in the same period of 2023, primarily due to the sale of its distributed gaming operations in Nevada. The company reported a net income of $3.0 million, a significant improvement from a net loss of $9.4 million in the fourth quarter of 2023. For the full year 2024, revenues were $666.8 million, down from $1.1 billion in 2023, with a net income of $50.7 million compared to $255.8 million the previous year. The decline in revenues and Adjusted EBITDA was largely attributed to the divestment of certain gaming operations.
Golden Entertainment’s strategic moves in 2024 included repurchasing 2.9 million shares of common stock for $91.5 million and paying cash dividends totaling $21.3 million. The company also reduced its debt obligations by $282.4 million, ending the year with $417.6 million in total debt and $57.7 million in cash and cash equivalents.
Looking ahead, Golden Entertainment’s management remains optimistic about improving business conditions in 2025, with a focus on investing in its assets, returning capital to shareholders, and exploring strategic opportunities.