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Jun 30, 2023
Golden Entertainment Q2 2023 Earnings Report
Reported second quarter results and declared a special cash dividend of $2.00 per share.
Key Takeaways
Golden Entertainment reported a slight decrease in revenue and a decrease in net income for the second quarter of 2023. The company completed the renovation of The STRAT and refinanced its debt. The Board approved a $2.00 per share special dividend and increased the share buyback authorization to $100 million.
Second quarter revenue was $286.7 million, net income was $12.3 million, and Adjusted EBITDA was $58.4 million.
Renovation of 537 rooms and the pool area at The STRAT was completed.
$640 million debt refinancing was completed in May.
A special dividend of $2.00 per share was approved, and the share buyback authorization was increased to $100 million.
Revenue by Geographic Location
Forward Guidance
The company expects the sale of its distributed gaming businesses to close by the end of 2023, which will further strengthen its balance sheet and liquidity. They are accelerating their return of capital to shareholders both in the form of a special dividend and expanding their stock repurchase authorization.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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