Golden Entertainment reported declines in revenue and adjustment earnings, at the same time that it announced the sale of its operating assets to company CEO Blake Sartini as part of a larger sale-leaseback deal of seven assets to VICI Properties.
Thursday’s earnings call to announce the results canceled; the information was sent out via press release.
The company reported third-quarter revenue of $154.8 million, compared to $161.2 million for third quarter 2024. Net loss for the third quarter was $4.7 million or $0.18 per share compared to net income of $5.2 million or $0.18 per fully diluted share for the third quarter of 2024.
Third-quarter 2025 adjusted EBITDA was $30.5 million compared to adjusted EBITDA of $34 million for the third quarter of 2024.
Gaming revenue was $77 million in the third quarter, up from $75.6 million in the third quarter of 2024. The decline came in room and food and beverage revenue.
The Nevada Casino Resorts division that includes The STRAT on the Strip had $93 million in revenue, down from $99.5 million a year ago.
The Nevada Locals Casinos saw a slight increase from $35.4 million to $35.7 million. The Nevada Tavern division declined from $26 million to $25.7 million.
The company paid a quarterly cash dividend of $0.25 per share on October 3. On November 4, the company’s Board of Directors authorized the next recurring quarterly cash dividend of $0.25 per share of the company’s outstanding common stock payable on January 6 to shareholders of record as of December 22.
As of September 30, the company’s total principal amount of debt outstanding was $430.1 million, consisting primarily of $391 million in outstanding term loan borrowings and $35 million in outstanding borrowings under the company’s revolving credit facility.
As of September 30, the company had cash and cash equivalents of $58.3 million and $205 million of remaining availability under its revolving credit facility.