Golden Entertainment faced a tougher start to 2025, with both revenue and profit dropping sharply compared to the same period last year. The company pointed to high one-time gains from a 2024 asset sale as the main reason for the steep drop in net income, though it still moved ahead with share buybacks and maintained confidence in long-term performance.
Good to know
- Q1 2025 net income dropped 94% year-over-year to $2.5 million.
- Golden repurchased over 273,000 shares in the quarter for $7.6 million.
- Adjusted EBITDA declined by 8.3%, landing at $37.6 million.
Golden Entertainment reported $160.8 million in revenue for the first quarter of 2025, marking a 7.6% decrease from Q1 2024. Net income fell to $2.5 million, down 94% year-over-year. The company said this sharp drop was mainly due to a $69.7 million gain from the sale of its distributed gaming operations in Nevada, which had boosted last year’s Q1 numbers.
Despite the decline, Chairman and CEO Blake Sartini said the company is staying focused. “Our focus on customer experience and operational efficiencies allowed us to generate strong financial performance despite uncertain macroeconomic conditions,” he stated.
Golden continued its share repurchase plan during the quarter. The company bought back 273,945 shares of common stock for a total of $7.6 million at an average price of $27.79 per share. Around $91.8 million remains available under the current authorization. Sartini added, “Our business remains resilient and we intend to continue to opportunistically repurchase our common stock under our current buyback authorization.”
Revenue from gaming operations made up the largest share at $80.3 million, though this was a 7.7% drop from the previous year. Food and beverage added $42.3 million, and hotel room revenue contributed $27.2 million during the quarter.
Golden’s adjusted EBITDA for Q1 2025 came in at $37.6 million, down 8.3% year-over-year. Of that total, $24.8 million came from Nevada Casino Resorts and $17.9 million from Nevada Locals Casinos.
In terms of top-line performance by segment, Nevada Casino Resorts brought in $94.2 million in revenue, Nevada Locals Casinos added $38.8 million, and Golden’s Taverns segment contributed around $27.5 million.
The post Golden Reports $160 Million Q1 Revenue With Net Income Down 94 Percent appeared first on iGaming.org.