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Mar 31, 2020
Golden Entertainment Q1 2020 Earnings Report
Golden Entertainment's Q1 2020 earnings were negatively impacted by mandated closures in March, but the company reduced cash outlays and fully drew its revolver to preserve liquidity.
Key Takeaways
Golden Entertainment reported a decrease in revenue to $207.2 million compared to $239.9 million in the first quarter of 2019. The company experienced a net loss of $32.6 million, or $1.17 per share, compared to a net loss of $8.0 million, or $0.29 per share, in the first quarter of 2019. Adjusted EBITDA was $30.3 million compared to $48.4 million for the first quarter of 2019.
Q1 results were negatively impacted by the mandated closure of all operations in March due to the COVID-19 pandemic.
The company significantly reduced cash outlays to preserve liquidity.
The revolver was fully drawn in March, creating a cash position of over $300 million.
Montana distributed gaming operations reopened on May 4th statewide.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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