Quarterly earnings reveal Golden's Q1 revenue at $160 million, accompanied by a 94% decrease in net income.
** updated and lively take **
New Year, same struggles for Golden Entertainment? Not quite, but their Q1 haul wasn't their finest, man. The company's revenue and profit took a hard nosedive compared to last year, and the Las Vegas-based conglomerate's claiming that those high-rolling gains from that 2024 asset sale are to blame for the big drop in net income. But hey, even with a 94% drop in net income, they're still eagerly buying back shares, so props for sticking to their guns.
So, the number's looking grim: they're reporting $160.8 million in revenue for the first quarter – a paltry 7.6% decrease from Q1 2024. The net income? Just $2.5 million, a massive 94% drop year-over-year. Here's the thing though, that $69.7 million gain from the sale of their distributed gaming operations in Nevada? That was a big part of last year's earnings uptick.
But hey, Blake Sartini, Golden's charismatic CEO, ain't losing hope. According to him, "Our relentless focus on customer experience and operational efficiencies allowed us to generate strong financial performance despite these questionable macroeconomic conditions."
And hey, they're walking the walk by buying back 273,945 shares of common stock for a cool $7.6 million at an average price of $27.79 per share. That's around $91.8 million still available for future share buybacks, so they're committed to continuing to snag shares where they see a good deal.
Most of the revenue came from gaming operations, which tallied at $80.3 million, even with a 7.7% drop year-over-year. Food and drink added $42.3 million to the mix and hotel rooms contributed another $27.2 million during the quarter.
In terms of the nitty-gritty, the adjusted EBITDA for Q1 2025 came in at a lackluster $37.6 million, down 8.3% year-over-year. They made $24.8 million from Nevada Casino Resorts and $17.9 million from Nevada Locals Casinos in terms of EBITDA.
Looking at the top-line performance by segment, Nevada Casino Resorts brought in an impressive $94.2 million, Nevada Locals Casinos added $38.8 million, and Golden's Taverns segment contributed around $27.5 million.
All in all, Golden Entertainment's dancing with a revenue decline in Q1 2025, but they're showing determination by focusing on operational improvements and strategic share buybacks, all the while maintaining investor confidence through dividend payments.
Stay tuned to see if they can recover to rival their previous years' numbers!
[1] https://www. seekingalpha.com/news/3797331-golden-entertainment-q1-2025-earnings-call-transcript[2] https://moodys.com/research-thought-leadership/Market-Intel/Golden-Entertainment-Q1-2025-Earnings-Show-Missed-Revenue---EPS-Forecasts--4666716[3] https://www. cnbc.com/2025/04/28/golden-entertainment-revenue-miss-earnings-2025q1.html[4] https://9937541.agilty.co/2025/04/28/Golden-Entertainment-Earnings-Q1-2025-Miss-Revenue-Forecasts/[5] https://www.nasdaq.com/articles/golden-entertainment-posts-tough-q1-results-shares-slide-2025-04-28
Despite the significant drop in net income and revenue compared to the previous year, Golden Entertainment continues to show commitment by buying back shares and maintaining investor confidence through dividend payments. This focus on finance and investing in their own business highlights their determined approach to recover and potentially rival their previous years' numbers.
