Golden Entertainment, owner of The Strat in Las Vegas, has announced its intention to explore potential strategic opportunities that ‘move the needle’ in 2025.
Charles Protell, President and Chief Financial Officer, stated: “We’re confident in our business prospects for 2025 with expected organic growth to come from improved performance at The Strat, stabilized revenues at new taverns, and the rest of our portfolio benefiting from the continued strength of Nevada’s economy. We remain committed to exploring all options to maximize value for our shareholders, including traditional M&A, as well as modernization of our real estate holdings. In the meantime, we continue to focus on operational efficiencies, investing in our assets, and returning capital to the shareholders.”
Blake Sartini, Chairman and Chief Executive Officer of Golden, added: “We continue to believe we’re well positioned for strategic alternatives. We continue to be proactive in pursuing opportunities. If and when we do something, we want to move the needle. We don’t want to go into small operations that are capital deferred to the point it doesn’t make sense. Given where we sit with our capital structure, we can continue to be patient. We would pursue a transformation activity, not a piecemeal approach.”
Golden Entertainment reported fourth-quarter 2024 revenues of $164.2 million, compared to revenues of $230.7 million for the fourth quarter of 2023 due to the exclusion from the current year period of the results for the company’s distributed gaming operations in Nevada that were sold on January 10, 2024.
The company reported full-year 2024 revenues of $666.8 million, compared to revenues of $1.1 billion for 2023. This included the benefit of the $69.2 million gain on the sale of distributed gaming operations in Nevada completed on January 10, 2024, compared to the $303.2 million gain on the sales of the Rocky Gap Casino Resort and distributed gaming operations in Montana completed on July 25, 2023, and September 13, 2023, respectively.
Blake Sartini, Chairman and Chief Executive Officer of Golden, commented: “Our fourth-quarter performance improved sequentially over the third quarter and we anticipate business conditions will continue to improve in 2025. For 2025, we remain focused on investing in our own assets, returning capital to shareholders, and pursuing potential strategic opportunities.”
Golden Entertainment, owner of The Strat in Las Vegas, has reiterated its focus on strategic opportunities that ‘move the needle’ for 2025. Charles Protell, President and Chief Financial Officer, noted: “We’re confident in our business prospects for 2025 with expected organic growth to come from improved performance at The Strat, stabilized revenues…”