LAS VEGAS--(BUSINESS WIRE)--
Golden Entertainment, Inc. (GDEN) (“Golden Entertainment” or the “Company”) today announced financial results for the quarter ended June 30, 2016. On July 31, 2015, Sartini Gaming, Inc. (“Sartini Gaming”) merged with a subsidiary of Lakes Entertainment (the “Merger”) and the Company was renamed Golden Entertainment. The Company’s financial results prior to July 31, 2015 do not include the operations of Sartini Gaming.
Key Highlights and Recent Developments
Added Sartini, “During the quarter our distributed gaming net revenues increased 23.2% compared to the combined net revenues from the prior year quarter, and we continue to see real potential for growth. We now operate 51 tavern locations in Las Vegas, and we have added to the mix our position as a leading distributed gaming provider in the state of Montana. We also completed the first phase of upgrades and renovations to our Rocky Gap property and are beginning to see benefits. We are proud of our progress and view these achievements as collectively advancing our strategy to expand our core markets by scaling our leadership position in distributed gaming and taking advantage of organic growth opportunities in our casino portfolio.”
Unaudited Consolidated and Combined Results
Given the Merger, the following illustrates for each segment net revenues, net income (loss) and Adjusted EBITDA for the three months and six months ended June 30, 2016, and Combined Net Revenues, Combined Net Income (Loss) and Combined Adjusted EBITDA for the Company and Sartini Gaming for the three months and six months ended June 28, 2015. These combined financial results have been prepared for illustrative purposes only and do not purport to be indicative of the results that actually would have resulted had the Merger occurred on the first day of such period, or of the future results of the Company. The combined results do not reflect any operating efficiencies and associated cost savings that may be achieved as a result of the Merger.
Results for the Three Months Ended June 30, 2016
Net revenues for the quarter were $102.6 million, compared to $15.3 million in the prior year quarter, with the increase due primarily to the Merger and results from the Company’s recently acquired distributed gaming operations in the state of Montana. Net revenues for the current quarter increased 16.5% compared to the Combined Net Revenues of $88.0 million in the prior year quarter.
For the quarter, net income was $2.8 million, or $0.12 per diluted share, compared to a net loss of $0.2 million, or $0.01 per diluted share, in the prior year quarter. During the quarter, the Company incurred $0.4 million in Merger-related expenses and $0.5 million in preopening expenses. The results for the prior year quarter included approximately $0.4 million in Merger-related expenses and no preopening expenses.
Adjusted EBITDA for the quarter was $13.3 million, compared to $1.7 million in the prior year quarter, with the increase due primarily to the Merger, the addition of Montana distributed gaming and the opening of new taverns in Las Vegas. Adjusted EBITDA for the current quarter increased 12.2% compared to the Combined Adjusted EBITDA of $11.9 million in the prior year quarter.
Results for the Six Months Ended June 30, 2016
The Company’s net revenues for the six months ended June 30, 2016 were $193.6 million, compared to $28.1 million for the prior year period. Net revenues increased 12.0% compared to the Combined Net Revenues of the Company and Sartini Gaming of $172.8 million in the prior year period.
For the six months ended June 30, 2016, net income was $5.0 million, or $0.23 per diluted share, compared to a net loss of $1.9 million, or $0.14 per diluted share, in the prior year period. The 2016 year-to-date results included the results of operations of Sartini Gaming for the entire period. During the first six months of 2016, the Company incurred $0.5 million in Merger-related expenses and $1.1 million in preopening expenses. The results for the prior year period included approximately $1.3 million in Merger-related expenses and no preopening expenses.
Adjusted EBITDA for the six months ended June 30, 2016 was $23.8 million, compared to $1.8 million in the prior year quarter, with the increase due primarily to the Merger, the addition of Montana distributed gaming and the opening of new taverns in Las Vegas. Adjusted EBITDA increased 13.2% compared to the Combined Adjusted EBITDA of $21.1 million in the prior year period.
Balance Sheet and Liquidity
As of June 30, 2016, the Company had cash and cash equivalents of $61.7 million, which included approximately $23.5 million in net proceeds related to the sale of the subordinated promissory note from the Jamul Indian Village (“Jamul Note”). On June 17, 2016, the Board of Directors declared a special cash dividend of an aggregate of $23.5 million (the “Special Dividend”), that was paid on July 14, 2016 to eligible shareholders of record as of the close of business on June 30, 2016 (the “Record Date”). The $1.71 per eligible share amount of the Special Dividend was calculated by dividing the aggregate amount of the Special Dividend by 13,759,374 outstanding shares of common stock held by eligible shareholders on the close of business on the Record Date (rounded down to the nearest whole cent per share).
As of June 30, 2016, total debt outstanding of $185.8 million included $155.0 million in senior secured term loans and $25.0 million in borrowings under the Company’s $50.0 million senior secured revolving credit facility. The Company’s senior secured term loans and revolving credit facility mature in July 2020. As of June 30, 2016, the weighted average effective interest rate on outstanding borrowings under these credit facilities was approximately 3.0%. Borrowings under the senior secured revolving credit facility were used to fund the $25.0 million purchase price for the Company’s Montana distributed gaming acquisition in April 2016.
Investor Conference Call and Webcast
The Company will host a webcast and conference call at 5:00 p.m. Eastern Time on August 3, 2016, to discuss the second quarter 2016 results. The number to call is 1-888-503-8169 (domestic) or 1-719-325-2244 (international). The passcode is 8655464. A live webcast will be available in the Investors section of the Company’s website (www.goldenent.com). A replay of the conference call will be available through August 10, 2016, by dialing 1-877-870-5176 (domestic) or 1-858-384-5517 (international) and entering the passcode 8655464.
Golden Entertainment, Inc. (GDEN) (“Golden Entertainment” or the “Company”) today announced financial results for the quarter ended June 30, 2016. On July 31, 2015, Sartini Gaming, Inc. (“Sartini Gaming”) merged with a subsidiary of Lakes Entertainment (the “Merger”) and the Company was renamed Golden Entertainment. The Company’s financial results prior to July 31, 2015 do not include the operations of Sartini Gaming.
Key Highlights and Recent Developments
- Net revenues for the quarter were $102.6 million, compared to $15.3 million in the prior year quarter, with the increase due primarily to the Merger and results from the Company’s newly acquired distributed gaming operations in the state of Montana. Net revenues for the current quarter increased 16.5% compared to the Combined Net Revenues of the Company and Sartini Gaming of $88.0 million in the prior year quarter.
- Net income for the quarter was $2.8 million, or $0.12 per diluted share, compared to a net loss of $0.2 million, or $0.01 per diluted share, in the prior year quarter.
- Adjusted EBITDA for the quarter was $13.3 million, compared to $1.7 million in the prior year quarter, with the increase due primarily to the Merger, Montana distributed gaming and the opening of new taverns in Las Vegas. Adjusted EBITDA for the current quarter increased 12.2% compared to the Combined Adjusted EBITDA of the Company and Sartini Gaming of $11.9 million in the prior year quarter.
- Net revenues for the quarter from the Distributed Gaming segment were $77.8 million, compared to $63.1 million of Combined Net Revenues for this segment in the same quarter a year ago, an increase of 23.2%.
- The Company completed two separate acquisitions of assets of distributed gaming operators in Montana in January and April 2016 for approximately $45.8 million in the aggregate, which added approximately 2,900 gaming devices, nearly 1,100 amusement devices and over 100 ATMs, along with certain other non-gaming assets and the right to operate within certain locations to the Company’s Distributed Gaming segment.
- On July 14, 2016, the Company paid a special cash dividend of an aggregate of $23.5 million to eligible shareholders of record.
Added Sartini, “During the quarter our distributed gaming net revenues increased 23.2% compared to the combined net revenues from the prior year quarter, and we continue to see real potential for growth. We now operate 51 tavern locations in Las Vegas, and we have added to the mix our position as a leading distributed gaming provider in the state of Montana. We also completed the first phase of upgrades and renovations to our Rocky Gap property and are beginning to see benefits. We are proud of our progress and view these achievements as collectively advancing our strategy to expand our core markets by scaling our leadership position in distributed gaming and taking advantage of organic growth opportunities in our casino portfolio.”
Unaudited Consolidated and Combined Results
Given the Merger, the following illustrates for each segment net revenues, net income (loss) and Adjusted EBITDA for the three months and six months ended June 30, 2016, and Combined Net Revenues, Combined Net Income (Loss) and Combined Adjusted EBITDA for the Company and Sartini Gaming for the three months and six months ended June 28, 2015. These combined financial results have been prepared for illustrative purposes only and do not purport to be indicative of the results that actually would have resulted had the Merger occurred on the first day of such period, or of the future results of the Company. The combined results do not reflect any operating efficiencies and associated cost savings that may be achieved as a result of the Merger.
| Consolidated Results (2016) and Combined Results (2015)[SUP](1)(2)[/SUP] | |||||||||||||||||||||||||||||||||||||
| (In thousands) | |||||||||||||||||||||||||||||||||||||
| Three Months Ended | Six Months Ended | ||||||||||||||||||||||||||||||||||||
| June 30, 2016 | June 28, 2015[SUP](3)[/SUP] | % Change | June 30, 2016 | June 28, 2015[SUP](3)[/SUP] | % Change | ||||||||||||||||||||||||||||||||
| Net Revenues | |||||||||||||||||||||||||||||||||||||
| Distributed Gaming | $ | 77,765 | $ | 63,117 | 23.2 | % | $ | 146,349 | $ | 124,808 | 17.3 | % | |||||||||||||||||||||||||
| Casinos | 24,709 | 24,662 | 0.2 | % | 47,122 | 47,697 | -1.2 | % | |||||||||||||||||||||||||||||
| Corporate and other | 84 | 232 | -63.8 | % | 121 | 276 | -56.2 | % | |||||||||||||||||||||||||||||
| $ | 102,558 | $ | 88,011 | 16.5 | % | $ | 193,592 | $ | 172,781 | 12.0 | % | ||||||||||||||||||||||||||
| Net Income (Loss) | |||||||||||||||||||||||||||||||||||||
| Distributed Gaming | $ | 6,295 | $ | 7,739 | -18.7 | % | $ | 12,223 | $ | 14,426 | -15.3 | % | |||||||||||||||||||||||||
| Casinos | 4,926 | 2,866 | 71.9 | % | 7,920 | 4,570 | 73.3 | % | |||||||||||||||||||||||||||||
| Corporate and other | (8,421 | ) | (13,161 | ) | -36.0 | % | (15,104 | ) | (23,500 | ) | -35.7 | % | |||||||||||||||||||||||||
| $ | 2,800 | $ | (2,556 | ) | -209.5 | % | $ | 5,039 | $ | (4,504 | ) | -211.9 | % | ||||||||||||||||||||||||
| Adjusted EBITDA | |||||||||||||||||||||||||||||||||||||
| Distributed Gaming | $ | 11,361 | $ | 10,114 | 12.3 | % | $ | 21,582 | $ | 19,349 | 11.5 | % | |||||||||||||||||||||||||
| Casinos | 6,843 | 5,448 | 25.6 | % | 11,607 | 9,520 | 21.9 | % | |||||||||||||||||||||||||||||
| Corporate and other | (4,903 | ) | (3,703 | ) | 32.4 | % | (9,340 | ) | (7,801 | ) | 19.7 | % | |||||||||||||||||||||||||
| $ | 13,301 | $ | 11,859 | 12.2 | % | $ | 23,849 | $ | 21,068 | 13.2 | % | ||||||||||||||||||||||||||
| (1) | Combined Net Revenues, Combined Net Income (Loss) and Combined Adjusted EBITDA reflect the operations of Sartini Gaming for periods prior to the Merger combined with the operations of the Company, without adjustment and do not conform to the Securities and Exchange Commission rules for pro forma financial information; however, we have included the combined results because we believe they provide a meaningful comparison for the periods presented. | ||
| (2) | The Company’s Distributed Gaming segment involves the installation, maintenance and operation of gaming devices in certain strategic, high-traffic, non-casino locations (such as grocery stores, convenience stores, restaurants, bars, taverns, saloons and liquor stores) in Nevada and Montana, and the operation of traditional, branded taverns targeting local patrons, primarily in the greater Las Vegas, Nevada metropolitan area. The Company’s Casinos segment consists of the Rocky Gap Casino Resort in Flintstone, Maryland and three casinos in Pahrump, Nevada. | ||
| (3) | The combined financial information for the three and six months ended June 28, 2015 was derived from the Company’s unaudited consolidated statement of operations for such periods and Sartini Gaming’s unaudited consolidated statement of operations for the three and six months ended June 30, 2015. | ||
Results for the Three Months Ended June 30, 2016
Net revenues for the quarter were $102.6 million, compared to $15.3 million in the prior year quarter, with the increase due primarily to the Merger and results from the Company’s recently acquired distributed gaming operations in the state of Montana. Net revenues for the current quarter increased 16.5% compared to the Combined Net Revenues of $88.0 million in the prior year quarter.
For the quarter, net income was $2.8 million, or $0.12 per diluted share, compared to a net loss of $0.2 million, or $0.01 per diluted share, in the prior year quarter. During the quarter, the Company incurred $0.4 million in Merger-related expenses and $0.5 million in preopening expenses. The results for the prior year quarter included approximately $0.4 million in Merger-related expenses and no preopening expenses.
Adjusted EBITDA for the quarter was $13.3 million, compared to $1.7 million in the prior year quarter, with the increase due primarily to the Merger, the addition of Montana distributed gaming and the opening of new taverns in Las Vegas. Adjusted EBITDA for the current quarter increased 12.2% compared to the Combined Adjusted EBITDA of $11.9 million in the prior year quarter.
Results for the Six Months Ended June 30, 2016
The Company’s net revenues for the six months ended June 30, 2016 were $193.6 million, compared to $28.1 million for the prior year period. Net revenues increased 12.0% compared to the Combined Net Revenues of the Company and Sartini Gaming of $172.8 million in the prior year period.
For the six months ended June 30, 2016, net income was $5.0 million, or $0.23 per diluted share, compared to a net loss of $1.9 million, or $0.14 per diluted share, in the prior year period. The 2016 year-to-date results included the results of operations of Sartini Gaming for the entire period. During the first six months of 2016, the Company incurred $0.5 million in Merger-related expenses and $1.1 million in preopening expenses. The results for the prior year period included approximately $1.3 million in Merger-related expenses and no preopening expenses.
Adjusted EBITDA for the six months ended June 30, 2016 was $23.8 million, compared to $1.8 million in the prior year quarter, with the increase due primarily to the Merger, the addition of Montana distributed gaming and the opening of new taverns in Las Vegas. Adjusted EBITDA increased 13.2% compared to the Combined Adjusted EBITDA of $21.1 million in the prior year period.
Balance Sheet and Liquidity
As of June 30, 2016, the Company had cash and cash equivalents of $61.7 million, which included approximately $23.5 million in net proceeds related to the sale of the subordinated promissory note from the Jamul Indian Village (“Jamul Note”). On June 17, 2016, the Board of Directors declared a special cash dividend of an aggregate of $23.5 million (the “Special Dividend”), that was paid on July 14, 2016 to eligible shareholders of record as of the close of business on June 30, 2016 (the “Record Date”). The $1.71 per eligible share amount of the Special Dividend was calculated by dividing the aggregate amount of the Special Dividend by 13,759,374 outstanding shares of common stock held by eligible shareholders on the close of business on the Record Date (rounded down to the nearest whole cent per share).
As of June 30, 2016, total debt outstanding of $185.8 million included $155.0 million in senior secured term loans and $25.0 million in borrowings under the Company’s $50.0 million senior secured revolving credit facility. The Company’s senior secured term loans and revolving credit facility mature in July 2020. As of June 30, 2016, the weighted average effective interest rate on outstanding borrowings under these credit facilities was approximately 3.0%. Borrowings under the senior secured revolving credit facility were used to fund the $25.0 million purchase price for the Company’s Montana distributed gaming acquisition in April 2016.
Investor Conference Call and Webcast
The Company will host a webcast and conference call at 5:00 p.m. Eastern Time on August 3, 2016, to discuss the second quarter 2016 results. The number to call is 1-888-503-8169 (domestic) or 1-719-325-2244 (international). The passcode is 8655464. A live webcast will be available in the Investors section of the Company’s website (www.goldenent.com). A replay of the conference call will be available through August 10, 2016, by dialing 1-877-870-5176 (domestic) or 1-858-384-5517 (international) and entering the passcode 8655464.
Golden Entertainment's (GDEN) CEO Blake Sartini on Q2 2016 Results - Earnings Call Transcript $GDEN
http://www.seekingalpha.com/article/3995440
http://www.seekingalpha.com/article/3995440
[h=1]Golden Entertainment Announces Third Quarter 2016 Results[/h][h=2]– Reports Net Revenues of $104.2 million, up 20.9% over Combined Net Revenues in the prior year quarter –
– Reports Net Income of $1.3 million; EPS of $0.06 per Diluted Share –
– Reports Adjusted EBITDA of $12.6 million, up 26.5% versus Combined Adjusted EBITDA in the prior year quarter –
[/h]
Golden Entertainment, Inc. 22 minutes ago
Content preferences [h=3][/h]
LAS VEGAS--(BUSINESS WIRE)--
Golden Entertainment, Inc. (GDEN) (“Golden Entertainment” or the “Company”) today announced financial results for the quarter ended September 30, 2016. On July 31, 2015, Sartini Gaming, Inc. (“Sartini Gaming”) merged with a subsidiary of Lakes Entertainment (the “Merger”) and the Company was renamed Golden Entertainment. The Company’s financial results prior to July 31, 2015 do not include the operations of Sartini Gaming.
Key Highlights and Recent Developments
During the third quarter, the Company opened its fourth branded tavern this year and its 50[SUP]th[/SUP] property in the Las Vegas Valley. The Company plans to open a fifth branded tavern in Las Vegas before the end of the year.
“We see significant benefits and opportunities that are derived from having a uniquely diversified gaming company operating across differing segments and in multiple jurisdictions,” Sartini said.
Unaudited Consolidated and Combined Results
The following illustrates for each segment net revenues, net income (loss) and Adjusted EBITDA for the Company for the three and nine months ended September 30, 2016, and, given the Merger in July 2015, Combined Net Revenues, Combined Net Income (Loss) and Combined Adjusted EBITDA for the Company and Sartini Gaming for the three and nine months ended September 30, 2015. These combined financial results have been prepared for illustrative purposes only and do not purport to be indicative of the results that actually would have resulted had the Merger occurred on the first day of such period, or of the future results of the Company. The combined results do not reflect any operating efficiencies and associated cost savings that may be achieved as a result of the Merger.
Results for the Three Months Ended September 30, 2016
Net revenues for the quarter were $104.2 million, compared to $62.5 million in the prior year quarter, with the increase due primarily to the Merger and results from the Company’s recently acquired distributed gaming operations in the state of Montana. The 2016 results included the results of operations of Sartini Gaming for the entire quarter, while the prior year quarter included the results of operations of Sartini Gaming for 61 days. Net revenues for the current quarter increased 20.9% compared to the Combined Net Revenues of the Company and Sartini Gaming of $86.2 million in the prior year quarter.
For the quarter, net income was $1.3 million, or $0.06 per diluted share, compared to $3.0 million, or $0.16 per diluted share, in the prior year quarter. The current quarter included higher than usual share-based compensation expense related to equitable adjustments made to the exercise prices of outstanding options in connection with the special dividend paid in July 2016. The prior year quarter included an income tax benefit of $12.9 million related to the release of existing valuation allowance resulting from a net deferred tax liability generated from intangible assets acquired in the Merger. During the third quarter of 2016, the Company incurred $0.1 million in Merger-related expenses and $0.8 million in preopening expenses. The results for the prior year quarter included $9.3 million in Merger-related expenses and $0.1 million in preopening expenses. Net income for the current quarter increased 408.6% compared to the Combined Net Income of $0.3 million in the prior year quarter.
Adjusted EBITDA for the quarter was $12.6 million, compared to $7.1 million in the prior year quarter, with the increase due primarily to the Merger, the results from the Company’s recently acquired Montana distributed gaming businesses and the opening of new taverns in the Las Vegas Valley. Adjusted EBITDA for the current quarter increased 26.5% compared to the Combined Adjusted EBITDA of $9.9 million in the prior year quarter.
Results for the Nine Months Ended September 30, 2016
The Company’s net revenues for the nine months ended September 30, 2016 were $297.8 million, compared to $90.6 million for the prior year period. The 2016 results included the results of operations of Sartini Gaming for the entire period, while the prior year period included the results of operations of Sartini Gaming for 61 days. Net revenues increased 15.0% compared to the Combined Net Revenues of the Company and Sartini Gaming of $259.0 million in the prior year period.
For the nine months ended September 30, 2016, net income was $6.3 million, or $0.28 per diluted share, compared to $1.1 million, or $0.07 per diluted share, in the prior year period. The current period included higher than usual share-based compensation expense related to equitable adjustments made to the exercise prices of outstanding options in connection with the special dividend paid in July 2016. The prior year period included an income tax benefit of $12.7 million related to the release of existing valuation allowance resulting from a net deferred tax liability generated from intangible assets acquired in the Merger. During the first nine months of 2016, the Company incurred $0.6 million in Merger-related expenses and $1.9 million in preopening expenses. The results for the prior year period included $10.6 million in Merger-related expenses and $0.1 million in preopening expenses. Combined Net Loss for the Company and Sartini Gaming for the prior year period was $4.2 million.
Adjusted EBITDA for the nine months ended September 30, 2016 was $36.4 million, compared to $8.9 million in the prior year period, with the increase due primarily to the Merger, the results from the Company’s recently acquired Montana distributed gaming businesses and the opening of new taverns in the Las Vegas Valley. Adjusted EBITDA increased 17.5% compared to the Combined Adjusted EBITDA of $31.0 million in the prior year period.
Balance Sheet and Liquidity
As of September 30, 2016, the Company had cash and cash equivalents of $40.0 million. On June 17, 2016, the Company’s board of directors declared a special cash dividend of an aggregate of $23.5 million (the “Special Dividend”), that was paid on July 14, 2016 to eligible shareholders of record as of the close of business on June 30, 2016 (the “Record Date”). The $1.71 per eligible share amount of the Special Dividend was calculated by dividing the aggregate amount of the Special Dividend by 13,759,374 outstanding shares of common stock held by eligible shareholders on the close of business on the Record Date (rounded down to the nearest whole cent per share).
As of September 30, 2016, total debt outstanding of $184.1 million included $153.0 million in aggregate principal amount of senior secured term loans and $25.0 million in aggregate principal amount of borrowings under the Company’s $50.0 million senior secured revolving credit facility. The Company’s senior secured term loans and revolving credit facility mature in July 2020. As of September 30, 2016, the weighted average effective interest rate on outstanding borrowings under these credit facilities was approximately 3.0%.
Investor Conference Call and Webcast
The Company will host a webcast and conference call at 5:00 p.m. Eastern Time on November 3, 2016, to discuss the third quarter 2016 results. The number to call is 1-844-465-3054 (domestic) or 1-480-685-5227 (international). The passcode is 74066830. A live webcast will be available in the Investors section of the Company’s website (www.goldenent.com). A replay of the conference call will be available through November 6, 2016, by dialing 1-855-859-2056 (domestic) or 1-404-537-3406 (international) and entering the passcode 74066830.
– Reports Net Income of $1.3 million; EPS of $0.06 per Diluted Share –
– Reports Adjusted EBITDA of $12.6 million, up 26.5% versus Combined Adjusted EBITDA in the prior year quarter –
[/h]
Golden Entertainment, Inc. 22 minutes ago Content preferences [h=3][/h]
LAS VEGAS--(BUSINESS WIRE)--
Golden Entertainment, Inc. (GDEN) (“Golden Entertainment” or the “Company”) today announced financial results for the quarter ended September 30, 2016. On July 31, 2015, Sartini Gaming, Inc. (“Sartini Gaming”) merged with a subsidiary of Lakes Entertainment (the “Merger”) and the Company was renamed Golden Entertainment. The Company’s financial results prior to July 31, 2015 do not include the operations of Sartini Gaming.
Key Highlights and Recent Developments
- Net revenues for the quarter were $104.2 million, compared to $62.5 million in the prior year quarter, with the increase due primarily to the Merger and results from the Company’s newly acquired distributed gaming operations in the state of Montana. Net revenues for the current quarter increased 20.9% compared to the Combined Net Revenues of the Company and Sartini Gaming of $86.2 million in the prior year quarter.
- Net income for the quarter was $1.3 million, or $0.06 per diluted share, compared to $3.0 million, or $0.16 per diluted share, in the prior year quarter. The current quarter included higher than usual share-based compensation expense related to equitable adjustments made to the exercise prices of outstanding options in connection with the special dividend paid in July 2016. The prior year quarter included an income tax benefit of $12.9 million.
- Adjusted EBITDA for the quarter was $12.6 million, compared to $7.1 million in the prior year quarter, with the increase due primarily to the Merger, the acquisitions of Montana distributed gaming businesses and the opening of new taverns in the Las Vegas Valley. Adjusted EBITDA for the current quarter increased 26.5% compared to the Combined Adjusted EBITDA of the Company and Sartini Gaming of $9.9 million in the prior year quarter.
- Net revenues for the quarter from the Distributed Gaming segment were $78.3 million, compared to $61.2 million of Combined Net Revenues for this segment in the prior year quarter, an increase of 27.9%.
- The three months ended September 30, 2016 marked the first full quarter of operations following the acquisitions of distributed gaming assets in Montana in January and April 2016. The Company’s Montana operations contributed $15.1 million of net revenues to the Distributed Gaming segment during the quarter.
During the third quarter, the Company opened its fourth branded tavern this year and its 50[SUP]th[/SUP] property in the Las Vegas Valley. The Company plans to open a fifth branded tavern in Las Vegas before the end of the year.
“We see significant benefits and opportunities that are derived from having a uniquely diversified gaming company operating across differing segments and in multiple jurisdictions,” Sartini said.
Unaudited Consolidated and Combined Results
The following illustrates for each segment net revenues, net income (loss) and Adjusted EBITDA for the Company for the three and nine months ended September 30, 2016, and, given the Merger in July 2015, Combined Net Revenues, Combined Net Income (Loss) and Combined Adjusted EBITDA for the Company and Sartini Gaming for the three and nine months ended September 30, 2015. These combined financial results have been prepared for illustrative purposes only and do not purport to be indicative of the results that actually would have resulted had the Merger occurred on the first day of such period, or of the future results of the Company. The combined results do not reflect any operating efficiencies and associated cost savings that may be achieved as a result of the Merger.
| Consolidated Results (2016) and Combined Results (2015)[SUP](1)(2)[/SUP] | |||||||||||||||||||||||||||||
| (Unaudited, in thousands) | |||||||||||||||||||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||
| September 30, 2016 | September 30, 2015[SUP](3)[/SUP] | % Change | September 30, 2016 | September 30, 2015[SUP](3)[/SUP] | % Change | ||||||||||||||||||||||||
| Net Revenues | |||||||||||||||||||||||||||||
| Distributed Gaming | $ | 78,253 | $ | 61,201 | 27.9 | % | $ | 224,602 | $ | 186,008 | 20.7 | % | |||||||||||||||||
| Casinos | 25,909 | 24,973 | 3.7 | % | 73,031 | 72,670 | 0.5 | % | |||||||||||||||||||||
| Corporate and other | 64 | 48 | 33.3 | % | 185 | 324 | -42.9 | % | |||||||||||||||||||||
| $ | 104,226 | $ | 86,222 | 20.9 | % | $ | 297,818 | $ | 259,002 | 15.0 | % | ||||||||||||||||||
| Net Income (Loss) | |||||||||||||||||||||||||||||
| Distributed Gaming | $ | 4,857 | $ | 4,354 | 11.6 | % | $ | 17,080 | $ | 18,780 | -9.1 | % | |||||||||||||||||
| Casinos | 4,474 | 1,713 | 161.2 | % | 12,394 | 6,283 | 97.3 | % | |||||||||||||||||||||
| Corporate and other | (8,029 | ) | (5,811 | ) | 38.2 | % | (23,133 | ) | (29,311 | ) | -21.1 | % | |||||||||||||||||
| $ | 1,302 | $ | 256 | 408.6 | % | $ | 6,341 | $ | (4,248 | ) | -249.3 | % | |||||||||||||||||
| Adjusted EBITDA | |||||||||||||||||||||||||||||
| Distributed Gaming | $ | 10,483 | $ | 8,390 | 24.9 | % | $ | 32,065 | $ | 27,739 | 15.6 | % | |||||||||||||||||
| Casinos | 6,511 | 5,737 | 13.5 | % | 18,118 | 15,257 | 18.8 | % | |||||||||||||||||||||
| Corporate and other | (4,439 | ) | (4,201 | ) | 5.7 | % | (13,779 | ) | (12,003 | ) | 14.8 | % | |||||||||||||||||
| $ | 12,555 | $ | 9,926 | 26.5 | % | $ | 36,404 | $ | 30,993 | 17.5 | % | ||||||||||||||||||
| [SUP](1)[/SUP] | Combined Net Revenues, Combined Net Income (Loss) and Combined Adjusted EBITDA reflect the operations of Sartini Gaming for periods prior to the Merger combined with the operations of the Company, without adjustment and do not conform to the Securities and Exchange Commission rules for pro forma financial information; however, we have included the combined results because we believe they provide a meaningful comparison for the periods presented. | |
| [SUP](2)[/SUP] | The Company’s Distributed Gaming segment involves the installation, maintenance and operation of gaming and amusement devices in certain strategic, high-traffic, non-casino locations (such as grocery stores, convenience stores, restaurants, bars, taverns, saloons and liquor stores) in Nevada and Montana, and the operation of traditional, branded taverns targeting local patrons, primarily in the greater Las Vegas, Nevada metropolitan area. The Company’s Casinos segment consists of the Rocky Gap Casino Resort in Flintstone, Maryland and three casinos in Pahrump, Nevada. | |
| [SUP](3)[/SUP] | The combined financial information for the three and nine months ended September 30, 2015 was derived from the Company’s unaudited consolidated statement of operations for such periods and Sartini Gaming’s unaudited consolidated statement of operations for the one month and seven months ended July 31, 2015. |
Net revenues for the quarter were $104.2 million, compared to $62.5 million in the prior year quarter, with the increase due primarily to the Merger and results from the Company’s recently acquired distributed gaming operations in the state of Montana. The 2016 results included the results of operations of Sartini Gaming for the entire quarter, while the prior year quarter included the results of operations of Sartini Gaming for 61 days. Net revenues for the current quarter increased 20.9% compared to the Combined Net Revenues of the Company and Sartini Gaming of $86.2 million in the prior year quarter.
For the quarter, net income was $1.3 million, or $0.06 per diluted share, compared to $3.0 million, or $0.16 per diluted share, in the prior year quarter. The current quarter included higher than usual share-based compensation expense related to equitable adjustments made to the exercise prices of outstanding options in connection with the special dividend paid in July 2016. The prior year quarter included an income tax benefit of $12.9 million related to the release of existing valuation allowance resulting from a net deferred tax liability generated from intangible assets acquired in the Merger. During the third quarter of 2016, the Company incurred $0.1 million in Merger-related expenses and $0.8 million in preopening expenses. The results for the prior year quarter included $9.3 million in Merger-related expenses and $0.1 million in preopening expenses. Net income for the current quarter increased 408.6% compared to the Combined Net Income of $0.3 million in the prior year quarter.
Adjusted EBITDA for the quarter was $12.6 million, compared to $7.1 million in the prior year quarter, with the increase due primarily to the Merger, the results from the Company’s recently acquired Montana distributed gaming businesses and the opening of new taverns in the Las Vegas Valley. Adjusted EBITDA for the current quarter increased 26.5% compared to the Combined Adjusted EBITDA of $9.9 million in the prior year quarter.
Results for the Nine Months Ended September 30, 2016
The Company’s net revenues for the nine months ended September 30, 2016 were $297.8 million, compared to $90.6 million for the prior year period. The 2016 results included the results of operations of Sartini Gaming for the entire period, while the prior year period included the results of operations of Sartini Gaming for 61 days. Net revenues increased 15.0% compared to the Combined Net Revenues of the Company and Sartini Gaming of $259.0 million in the prior year period.
For the nine months ended September 30, 2016, net income was $6.3 million, or $0.28 per diluted share, compared to $1.1 million, or $0.07 per diluted share, in the prior year period. The current period included higher than usual share-based compensation expense related to equitable adjustments made to the exercise prices of outstanding options in connection with the special dividend paid in July 2016. The prior year period included an income tax benefit of $12.7 million related to the release of existing valuation allowance resulting from a net deferred tax liability generated from intangible assets acquired in the Merger. During the first nine months of 2016, the Company incurred $0.6 million in Merger-related expenses and $1.9 million in preopening expenses. The results for the prior year period included $10.6 million in Merger-related expenses and $0.1 million in preopening expenses. Combined Net Loss for the Company and Sartini Gaming for the prior year period was $4.2 million.
Adjusted EBITDA for the nine months ended September 30, 2016 was $36.4 million, compared to $8.9 million in the prior year period, with the increase due primarily to the Merger, the results from the Company’s recently acquired Montana distributed gaming businesses and the opening of new taverns in the Las Vegas Valley. Adjusted EBITDA increased 17.5% compared to the Combined Adjusted EBITDA of $31.0 million in the prior year period.
Balance Sheet and Liquidity
As of September 30, 2016, the Company had cash and cash equivalents of $40.0 million. On June 17, 2016, the Company’s board of directors declared a special cash dividend of an aggregate of $23.5 million (the “Special Dividend”), that was paid on July 14, 2016 to eligible shareholders of record as of the close of business on June 30, 2016 (the “Record Date”). The $1.71 per eligible share amount of the Special Dividend was calculated by dividing the aggregate amount of the Special Dividend by 13,759,374 outstanding shares of common stock held by eligible shareholders on the close of business on the Record Date (rounded down to the nearest whole cent per share).
As of September 30, 2016, total debt outstanding of $184.1 million included $153.0 million in aggregate principal amount of senior secured term loans and $25.0 million in aggregate principal amount of borrowings under the Company’s $50.0 million senior secured revolving credit facility. The Company’s senior secured term loans and revolving credit facility mature in July 2020. As of September 30, 2016, the weighted average effective interest rate on outstanding borrowings under these credit facilities was approximately 3.0%.
Investor Conference Call and Webcast
The Company will host a webcast and conference call at 5:00 p.m. Eastern Time on November 3, 2016, to discuss the third quarter 2016 results. The number to call is 1-844-465-3054 (domestic) or 1-480-685-5227 (international). The passcode is 74066830. A live webcast will be available in the Investors section of the Company’s website (www.goldenent.com). A replay of the conference call will be available through November 6, 2016, by dialing 1-855-859-2056 (domestic) or 1-404-537-3406 (international) and entering the passcode 74066830.
got some shares @ 8.75 , unreal
stop losses on a thin stock, not a good idea
Golden Entertainment Taverns Roll Out Video Table Games
by John Mehaffey
October 27, 2016
Most taverns in Las Vegas offer the same games. Most bar-top devices are Game Kings with pay tables that return less to players than locals casinos. Many players still choose taverns over full service casinos. The quick drink service, top-shelf liquor, promotions and ease of earning food comps are among the reasons for this.
Tavern gamers no longer have to choose between good service and promotions and player-friendly returns. They can have both.
Golden Entertainment installed StarBar machines at eight of its Las Vegas locations. The games offer video poker, keno, slots and table games. Craps, blackjack, roulette and baccarat are all available on StarBar machines.
StarBar Craps Best Tavern Game in Las Vegas
The craps game offers the lowest house edge of any game located in a Las Vegas tavern. It offers 3-4-5 times odds. This means a player may place three times the Pass Line bet in odds on a 4 or 10, four times on a 5 and 9 and five times on a 6 or 8.
The house edge for the Pass Line and Come bets is 0.37% when taking full odds. The Don’t Pass and Don’t Come bets have a 0.27% house edge when taking full odds.
It gets even better if you consider the house edge on each roll. A Pass Line and Come player will experience a 0.11% house edge per roll. The Don’t side goes down to 0.09%. Combine this with the excellent drink service at Golden Entertainment taverns and you will have a fun night without giving up much in the way of theoretical losses.
The Field pays triple on 12. This is unusual for video craps. That is half the house edge of a typical video craps game’s Field bet.
The Hardway bets display how long it has been since a roll was called. Players are not permitted to bet both the Pass Line and Don’t sides at the same time. Buy bets come down after winning. Place and prop bets do not. The minimum bet is $.50.
Blackjack Pays 3 to 2
Most tavern blackjack games only pay even money on blackjack. That is not the case with the StarBar machines. Players receive 3-2 on a winning blackjack. Players may double down on any two cards and after splitting. The dealer hits soft 17. The house edge for this game is 0.63% with perfect play. There are two versions of this game. One is single hand while the other allows the players to receive up to three hands. The minimum bet is $1.
Baccarat
Baccarat is dealt with the typical 5% commission on the Banker. The Player bet pays even money. The tie pays 9-1. The minimum bet is $1.
Roulette
Roulette is double zero with normal payouts. The minimum bet is $.50.
Video Poker
There is nothing special about the video poker on the StarBar machines. The pay tables are identical to the Game Kings located in Golden Entertainment taverns. This includes 6/5 Bonus Poker, 9/6/4 Double Bonus, 8/5 Double Bonus, 16/13 Deuces Wild and 7/5 Jacks or Better. There is a slight difference in a couple of these games. The 8/5 Double Double Bonus is better than the 7/5 Game Kings. The StarBar machines are not included in the Game King progressive so it has a 1% higher return with the larger full house payout.
The denominations are $.25, $.50, $1, $2 and $5. Players must bet five coins for the full pay royal flush. The minimum bet is one coin.
Keno
There are two keno games. Each has the option of up to 10 cards per deal. One game is of the super ball multiplier variety. The other is traditional keno. Denominations are $.25, $.50 and $1. Players must wager at least one credit.
StarBar Features Players May Find Annoying
The StarBar has a few features players may find annoying. These should be known before getting into action. There is a feature that allows hands to be played in the table games without betting any money. This is done by pressing the “Deal” button. This seems appropriate for baccarat but can cause problems in other games. A player that fails to click the “Rebet” button before deal will end up in a hand without a wager.
There are a few issues related to the craps game. A player that bets the Don’t Pass or Don’t Come will need to replace the bet when a 12 pushes. Don’t Come bets will need to be called on after a point is made, something that is automatic in a live game. If the next come out roll is a 2, 3, 11 or 12, the Don’t Come bets will need to be called on again.
The Rebet button includes the previous odds for the Pass Line and Don’t Pass bets. For example, a player that bets $1 and $5 in odds on an 8 from the Pass Line will find that the re-bet is $6, not $1.
These problems are easily resolved as long as players are aware of them and act accordingly.
StarBar Machine Verdict
The StarBar machines are fun. It is a nice change of pace from the traditional tavern gaming options. The house edge on craps is the lowest a player will find in a bar. The blackjack game also offers a reasonable edge. Baccarat is available with traditional rules and an edge slightly higher than one percent.
StarBar machines are perfect for tavern players looking for low limits and house edges. The great drink and food service at Golden Entertainment taverns is a great compliment to the quality games.
The only problem we found is accidentally hitting the deal button without making a bet. Just make sure to pay attention while gambling.
Where to Play StarBar Machines
stop losses on a thin stock, not a good idea
Golden Entertainment Taverns Roll Out Video Table Games
Tavern gamers no longer have to choose between good service and promotions and player-friendly returns. They can have both.
Golden Entertainment installed StarBar machines at eight of its Las Vegas locations. The games offer video poker, keno, slots and table games. Craps, blackjack, roulette and baccarat are all available on StarBar machines.
StarBar Craps Best Tavern Game in Las Vegas
The craps game offers the lowest house edge of any game located in a Las Vegas tavern. It offers 3-4-5 times odds. This means a player may place three times the Pass Line bet in odds on a 4 or 10, four times on a 5 and 9 and five times on a 6 or 8.
The house edge for the Pass Line and Come bets is 0.37% when taking full odds. The Don’t Pass and Don’t Come bets have a 0.27% house edge when taking full odds.
It gets even better if you consider the house edge on each roll. A Pass Line and Come player will experience a 0.11% house edge per roll. The Don’t side goes down to 0.09%. Combine this with the excellent drink service at Golden Entertainment taverns and you will have a fun night without giving up much in the way of theoretical losses.
The Field pays triple on 12. This is unusual for video craps. That is half the house edge of a typical video craps game’s Field bet.
The Hardway bets display how long it has been since a roll was called. Players are not permitted to bet both the Pass Line and Don’t sides at the same time. Buy bets come down after winning. Place and prop bets do not. The minimum bet is $.50.
Blackjack Pays 3 to 2
Most tavern blackjack games only pay even money on blackjack. That is not the case with the StarBar machines. Players receive 3-2 on a winning blackjack. Players may double down on any two cards and after splitting. The dealer hits soft 17. The house edge for this game is 0.63% with perfect play. There are two versions of this game. One is single hand while the other allows the players to receive up to three hands. The minimum bet is $1.
Baccarat
Baccarat is dealt with the typical 5% commission on the Banker. The Player bet pays even money. The tie pays 9-1. The minimum bet is $1.
Roulette
Roulette is double zero with normal payouts. The minimum bet is $.50.
Video Poker
There is nothing special about the video poker on the StarBar machines. The pay tables are identical to the Game Kings located in Golden Entertainment taverns. This includes 6/5 Bonus Poker, 9/6/4 Double Bonus, 8/5 Double Bonus, 16/13 Deuces Wild and 7/5 Jacks or Better. There is a slight difference in a couple of these games. The 8/5 Double Double Bonus is better than the 7/5 Game Kings. The StarBar machines are not included in the Game King progressive so it has a 1% higher return with the larger full house payout.
The denominations are $.25, $.50, $1, $2 and $5. Players must bet five coins for the full pay royal flush. The minimum bet is one coin.
Keno
There are two keno games. Each has the option of up to 10 cards per deal. One game is of the super ball multiplier variety. The other is traditional keno. Denominations are $.25, $.50 and $1. Players must wager at least one credit.
StarBar Features Players May Find Annoying
The StarBar has a few features players may find annoying. These should be known before getting into action. There is a feature that allows hands to be played in the table games without betting any money. This is done by pressing the “Deal” button. This seems appropriate for baccarat but can cause problems in other games. A player that fails to click the “Rebet” button before deal will end up in a hand without a wager.
There are a few issues related to the craps game. A player that bets the Don’t Pass or Don’t Come will need to replace the bet when a 12 pushes. Don’t Come bets will need to be called on after a point is made, something that is automatic in a live game. If the next come out roll is a 2, 3, 11 or 12, the Don’t Come bets will need to be called on again.
The Rebet button includes the previous odds for the Pass Line and Don’t Pass bets. For example, a player that bets $1 and $5 in odds on an 8 from the Pass Line will find that the re-bet is $6, not $1.
These problems are easily resolved as long as players are aware of them and act accordingly.
StarBar Machine Verdict
The StarBar machines are fun. It is a nice change of pace from the traditional tavern gaming options. The house edge on craps is the lowest a player will find in a bar. The blackjack game also offers a reasonable edge. Baccarat is available with traditional rules and an edge slightly higher than one percent.
StarBar machines are perfect for tavern players looking for low limits and house edges. The great drink and food service at Golden Entertainment taverns is a great compliment to the quality games.
The only problem we found is accidentally hitting the deal button without making a bet. Just make sure to pay attention while gambling.
Where to Play StarBar Machines
- Pt’s Gold – 5630 S Hualapai Way
- PT’s Gold – 10075 S Eastern Avenue
- PT’s Gold – 6570 South Buffalo Drive
- PT’s Gold – 1661 East Sunset Road
- PT’s Pub – 4424 Spring Mountain Road
- PT’s Pub – 9050 West Post Road
- Sierra Gold – 2400 North Buffalo Drive
- Sierra Gold – 6515 South Jones Boulevard
Golden Entertainment Continues Wholly Owned Tavern Expansion in 2017 Seven new Las Vegas Valley locations planned for development
January 10, 2017 09:00 AM Eastern Standard Time
LAS VEGAS--(BUSINESS WIRE)--Golden Entertainment, Inc. (NASDAQ:GDEN), the largest traditional tavern gaming operator in Nevada, announced Tuesday the company currently plans to open seven new taverns in the Las Vegas Valley that are scheduled for completion in 2017.
The development plans will give Golden Entertainment a total of 60 taverns in Nevada by the end of 2017 and follows the company’s 2016 growth activities, which saw Golden Entertainment open five new taverns. The company’s tavern brands include PT’s Pub, PT’s Gold, PT’s Ranch, PT’s Brewing Co., Sean Patrick’s, Sierra Gold and SG Bar.
“Last year marked a milestone of the organic growth of our tavern business, and our 2017 openings will continue our company’s goal of expanding our presence and reinvesting in Nevada,” said Blake L. Sartini II, senior vice president of distributed gaming for Golden Entertainment. “We expect the continued strength of the Las Vegas local economy to support not only our currently planned 2017 openings, but additional future taverns across all our brands.”
The locations currently planned for the 2017 expansion include:
Golden Entertainment, Inc. owns and operates gaming properties across two divisions – distributed gaming and casino operations. Golden Entertainment operates more than 12,000 gaming devices and nearly 30 table games in Nevada, Maryland and Montana. The Company owns four casino properties, more than 50 taverns and operates approximately 980 distributed gaming locations in multiple jurisdictions. Golden Entertainment is focused on leveraging its scale, market leadership and proven management capabilities to maximize profitability of its operations and value for its shareholders. For more information, visit www.goldenent.com.
January 10, 2017 09:00 AM Eastern Standard Time
LAS VEGAS--(BUSINESS WIRE)--Golden Entertainment, Inc. (NASDAQ:GDEN), the largest traditional tavern gaming operator in Nevada, announced Tuesday the company currently plans to open seven new taverns in the Las Vegas Valley that are scheduled for completion in 2017.
“Last year marked a milestone of the organic growth of our tavern business, and our 2017 openings will continue our company’s goal of expanding our presence and reinvesting in Nevada”
Tweet this
Five of the taverns will be located in the growing southwest region of Clark County. A sixth location is in the City of Las Vegas’ northwest area near Centennial Hills. The seventh tavern is in the Green Valley Ranch section of Henderson. The seven locations include six greenfield developments plus the acquisition of an existing tavern operated by a third party. Tweet this
The development plans will give Golden Entertainment a total of 60 taverns in Nevada by the end of 2017 and follows the company’s 2016 growth activities, which saw Golden Entertainment open five new taverns. The company’s tavern brands include PT’s Pub, PT’s Gold, PT’s Ranch, PT’s Brewing Co., Sean Patrick’s, Sierra Gold and SG Bar.
“Last year marked a milestone of the organic growth of our tavern business, and our 2017 openings will continue our company’s goal of expanding our presence and reinvesting in Nevada,” said Blake L. Sartini II, senior vice president of distributed gaming for Golden Entertainment. “We expect the continued strength of the Las Vegas local economy to support not only our currently planned 2017 openings, but additional future taverns across all our brands.”
The locations currently planned for the 2017 expansion include:
- 7355 South Buffalo Drive near West Warm Springs Road – near the Rhodes Ranch residential and golf community.
- South Valley View Boulevard north of Interstate 215 in an existing tavern site.
- 4880 West Silverado Ranch Boulevard near South Decatur Boulevard.
- A development site on Blue Diamond Road and South El Capitan Way, near the Mountain’s Edge residential community.
- 8275 South Fort Apache Road near Huntington Cove Parkway, situated just west of Rhodes Ranch.
- 7550 Oso Blanca Road, near North Durango Drive in Centennial Hills.
- A development site in the Green Valley Ranch community of Henderson.
Golden Entertainment, Inc. owns and operates gaming properties across two divisions – distributed gaming and casino operations. Golden Entertainment operates more than 12,000 gaming devices and nearly 30 table games in Nevada, Maryland and Montana. The Company owns four casino properties, more than 50 taverns and operates approximately 980 distributed gaming locations in multiple jurisdictions. Golden Entertainment is focused on leveraging its scale, market leadership and proven management capabilities to maximize profitability of its operations and value for its shareholders. For more information, visit www.goldenent.com.
| 2/9/17, 5:22 PM Golden Entertainment upgraded by SunTrust Banks, Inc. to buy. http://www.marketbeat.com/r/774303 $GDEN |
blog page Raise A Toast; Golden Is Expanding Local Taverns In 2017
Feb 13, 2017 | blog, Blake Sartini |
Good news, southern Nevada residents. We’re about to bring more good times and tasty bites your way.
As 2017 kicks off, we’re sharing the good news that Golden Entertainment is expanding our local tavern presence across the Las Vegas Valley, including a whopping seven new taverns in the following areas:
– 7355 South Buffalo Drive near West Warm Springs Rd. not far from the Rhodes Ranch residential and golf community
– South Valley View Boulevard north of Interstate 215
– 4880 West Silverado Ranch Boulevard near South Decatur Blvd.
– Blue Diamond Rd. and South El Capitan Way, near the Mountain’s Edge residential community
– 8275 South Fort Apache Rd. near Huntington Cove Parkway, situated just west of Rhodes Ranch
– 7550 Oso Blanca Rd., near North Durango Drive in Centennial Hills
– Henderson’s Green Valley Ranch
Each of these seven new Las Vegas taverns will offer as many as 15 gaming devices and a selection of our award-winning bar food and happy hour choices. Choices like craft beers and creative cocktails to help melt away the stress of a busy day.
On a hot summer day, you might choose to sip on our own PT’s Buffalo Blonde, a 6.5% ABV beer with refreshing notes of banana and pear. For chillier nights in the valley, try the 5.2% ABV Boulder Stout, a nitro poured Irish-style stout with coffee and cocoa notes. When it’s time to grab a bite, enjoy pizzas, chicken wings, burgers, nachos and so many more options at each of our new local taverns.
These new Las Vegas taverns are projected to boost employment in the area, bringing more than 200 full- and part-time jobs to the residents of southern Nevada. Six of the new locations are brand new locations, while a seventh will take over an existing tavern currently operated by a third party.
Check out this staggering map of our locations. We have more than 50 nearby taverns across the Las Vegas Valley. The seven new locations add to the existing PT’s Pubs, PT’s Gold, PT’s Brewing Company, PT’s Ranch, Sean Patrick’s, Sierra Gold and SG Bar establishments that currently serve up daily food and drink specials in a relaxed, friendly atmosphere.
Look for the new nearby taverns to open throughout 2017, and stay in touch with us for more exciting news throughout the year.
Blake L. Sartini II
Senior VP of Distributed Gaming
Feb 13, 2017 | blog, Blake Sartini |
Good news, southern Nevada residents. We’re about to bring more good times and tasty bites your way.
As 2017 kicks off, we’re sharing the good news that Golden Entertainment is expanding our local tavern presence across the Las Vegas Valley, including a whopping seven new taverns in the following areas:
– 7355 South Buffalo Drive near West Warm Springs Rd. not far from the Rhodes Ranch residential and golf community
– South Valley View Boulevard north of Interstate 215
– 4880 West Silverado Ranch Boulevard near South Decatur Blvd.
– Blue Diamond Rd. and South El Capitan Way, near the Mountain’s Edge residential community
– 8275 South Fort Apache Rd. near Huntington Cove Parkway, situated just west of Rhodes Ranch
– 7550 Oso Blanca Rd., near North Durango Drive in Centennial Hills
– Henderson’s Green Valley Ranch
Each of these seven new Las Vegas taverns will offer as many as 15 gaming devices and a selection of our award-winning bar food and happy hour choices. Choices like craft beers and creative cocktails to help melt away the stress of a busy day.
On a hot summer day, you might choose to sip on our own PT’s Buffalo Blonde, a 6.5% ABV beer with refreshing notes of banana and pear. For chillier nights in the valley, try the 5.2% ABV Boulder Stout, a nitro poured Irish-style stout with coffee and cocoa notes. When it’s time to grab a bite, enjoy pizzas, chicken wings, burgers, nachos and so many more options at each of our new local taverns.
These new Las Vegas taverns are projected to boost employment in the area, bringing more than 200 full- and part-time jobs to the residents of southern Nevada. Six of the new locations are brand new locations, while a seventh will take over an existing tavern currently operated by a third party.
Check out this staggering map of our locations. We have more than 50 nearby taverns across the Las Vegas Valley. The seven new locations add to the existing PT’s Pubs, PT’s Gold, PT’s Brewing Company, PT’s Ranch, Sean Patrick’s, Sierra Gold and SG Bar establishments that currently serve up daily food and drink specials in a relaxed, friendly atmosphere.
Look for the new nearby taverns to open throughout 2017, and stay in touch with us for more exciting news throughout the year.
Blake L. Sartini II
Senior VP of Distributed Gaming
Golden Entertainment, Inc. (NASDAQ: GDEN) Set to Capitalize on the Immensity of the US Gambling Market
February 23, 2017
Billions of dollars are generated from the U.S. gambling market each year. Despite a new movement toward online gambling, especially in the United Kingdom, physical brick and mortar casinos are still dominating in terms of revenue.
A political aspect that could impact the casino industry in the U.S. is the election of Donald Trump. Although moral issues still surround the market, the new president has close affiliations with the casino industry. In 2015, gross gaming revenue (GGR) came in at over 40%, but in 2016, according to CasinoNewsDaily.com (http://nnw.fm/6LdvT), the U.S. was at the top of the full-year losses chart, the number representing the amount staked by gambling customers minus payouts.
According to InvestmentWatchBlog.com (http://nnw.fm/4cJVw), the casino annual growth rate in Nevada came in at 4.5% between 2011 and 2015, with a market growth during that period of 7.3%. Despite it not being known how much revenue makes up the online casino industry compared to the brick and mortar casino industry, slots make up 50% of gaming revenue in Nevada.
Golden Entertainment, Inc. (NASDAQ: GDEN), the largest branded tavern operator in Nevada and a market leader in distributed gaming, is set to capitalize on the immensity of the U.S. gambling market through its robust development and acquisition pipeline, which included the acquisitions of C. Lohman Games, Inc. in January 2016, and Amusement Services, LLC in April of the same year. The company now has over 10,000 devices in over 1,000 locations across the United States, including Pahrump Nugget Hotel & Casino, Gold Town Casino, and Lakeside Casino & RV Park, all of which are in Nevada.
Golden Entertainment has multiple paths to achieve meaningful growth. For 2017, the company has seven new taverns under development with a robust pipeline of new-build sites. The company plans to acquire smaller distributed gaming operators that lack the scale to compete in profitability, as well as regional casino assets, and also to reinvest in existing casino properties, such as its Rocky Gap and Pahrump facilities.
Golden Entertainment currently owns rights to potential distributed gaming locations and aims to pioneer new distributed gaming jurisdictions across the country. Additionally, by merging with public gaming operators, the company is offering the potential for increased liquidity to shareholders.
For more information, visit
For more information, visit https://www.NetworkNewsWire.com
February 23, 2017
Billions of dollars are generated from the U.S. gambling market each year. Despite a new movement toward online gambling, especially in the United Kingdom, physical brick and mortar casinos are still dominating in terms of revenue.
A political aspect that could impact the casino industry in the U.S. is the election of Donald Trump. Although moral issues still surround the market, the new president has close affiliations with the casino industry. In 2015, gross gaming revenue (GGR) came in at over 40%, but in 2016, according to CasinoNewsDaily.com (http://nnw.fm/6LdvT), the U.S. was at the top of the full-year losses chart, the number representing the amount staked by gambling customers minus payouts.
According to InvestmentWatchBlog.com (http://nnw.fm/4cJVw), the casino annual growth rate in Nevada came in at 4.5% between 2011 and 2015, with a market growth during that period of 7.3%. Despite it not being known how much revenue makes up the online casino industry compared to the brick and mortar casino industry, slots make up 50% of gaming revenue in Nevada.
Golden Entertainment, Inc. (NASDAQ: GDEN), the largest branded tavern operator in Nevada and a market leader in distributed gaming, is set to capitalize on the immensity of the U.S. gambling market through its robust development and acquisition pipeline, which included the acquisitions of C. Lohman Games, Inc. in January 2016, and Amusement Services, LLC in April of the same year. The company now has over 10,000 devices in over 1,000 locations across the United States, including Pahrump Nugget Hotel & Casino, Gold Town Casino, and Lakeside Casino & RV Park, all of which are in Nevada.
Golden Entertainment has multiple paths to achieve meaningful growth. For 2017, the company has seven new taverns under development with a robust pipeline of new-build sites. The company plans to acquire smaller distributed gaming operators that lack the scale to compete in profitability, as well as regional casino assets, and also to reinvest in existing casino properties, such as its Rocky Gap and Pahrump facilities.
Golden Entertainment currently owns rights to potential distributed gaming locations and aims to pioneer new distributed gaming jurisdictions across the country. Additionally, by merging with public gaming operators, the company is offering the potential for increased liquidity to shareholders.
For more information, visit
For more information, visit https://www.NetworkNewsWire.com
