ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for tools Level up your trading with our powerful tools and real-time insights all in one place.
Golden Entertainment Inc

Golden Entertainment Inc (GDEN)

29.99
0.27
(0.91%)
Closed June 12 4:00PM
29.99
0.00
( 0.00% )
Pre Market: 4:05AM

Your Hub for Real-Time streaming quotes, Ideas and Live Discussions

Key stats and details

Current Price
29.99
Bid
28.00
Ask
47.68
Volume
-
0.00 Day's Range 0.00
28.20 52 Week Range 47.495
Market Cap
Previous Close
29.99
Open
-
Last Trade
Last Trade Time
-
Financial Volume
-
VWAP
-
Average Volume (3m)
259,728
Shares Outstanding
28,669,229
Dividend Yield
1.67%
PE Ratio
3.36
Earnings Per Share (EPS)
8.92
Revenue
1.05B
Net Profit
255.76M

About Golden Entertainment Inc

Golden Entertainment Inc is a US-based company that focuses on distributed gaming, casino, and resort operations. Its reportable segments are Nevada Casino Resorts, Nevada Locals Casinos, Maryland Casino Resort and Distributed Gaming. It derives key revenue from the Nevada Casino Resorts and Distrib... Golden Entertainment Inc is a US-based company that focuses on distributed gaming, casino, and resort operations. Its reportable segments are Nevada Casino Resorts, Nevada Locals Casinos, Maryland Casino Resort and Distributed Gaming. It derives key revenue from the Nevada Casino Resorts and Distributed Gaming segments. Nevada Casino Resorts is comprised of destination casino resort properties offering a variety of food and beverage outlets, entertainment venues and other amenities. Distributed Gaming segment is comprised of the operation of slot machines and amusement devices in non-casino locations across Nevada and Montana, with a limited number of slot machines in each location, as well as the operation of branded taverns. Show more

Sector
Misc Amusement & Rec Service
Industry
Misc Amusement & Rec Service
Headquarters
Roseville, California, USA
Founded
1970
Golden Entertainment Inc is listed in the Misc Amusement & Rec Service sector of the NASDAQ with ticker GDEN. The last closing price for Golden Entertainment was $29.99. Over the last year, Golden Entertainment shares have traded in a share price range of $ 28.20 to $ 47.495.

Golden Entertainment currently has 28,669,229 shares outstanding. The market capitalization of Golden Entertainment is $859.79 million. Golden Entertainment has a price to earnings ratio (PE ratio) of 3.36.

GDEN Latest News

Golden Entertainment Announces Repricing of Term Loan

Golden Entertainment, Inc. (NASDAQ: GDEN) (“Golden Entertainment” or the “Company”) today announced it has repriced and allocated its existing term loan credit facility due 2030 (the “Term Loan...

PeriodChangeChange %OpenHighLowAvg. Daily VolVWAP
1-0.17-0.56366047745430.1630.7328.9831525129.8597539CS
4-1.4-4.4600191143731.3931.628.237927429.71158484CS
12-5.06-14.436519258235.0536.9228.225972831.59796724CS
26-9.72-24.477461596639.7142.1428.220715134.08918843CS
52-15.06-33.429522752545.0547.49528.219122935.78281113CS
156-16.5-35.491503549246.4959.9628.221204543.10096534CS
26016.19117.3188405813.859.963.5521324031.62817917CS

Market Movers

View all
  • Most Active
  • % Gainers
  • % Losers
SymbolPriceVol.
NCINeo Concept International Group Holdings Ltd
$ 1.04
(59.36%)
9.55M
LGVNLongeveron Inc
$ 2.39
(32.04%)
3.1M
DUOFangDD Network Group Ltd
$ 0.7662
(25.61%)
2.64M
MOLNMolecular Partners AG
$ 6.77
(16.72%)
200.16k
PWMPrestige Wealth Inc
$ 0.92
(14.96%)
4
IONMAssure Holdings Corporation
$ 0.24
(-53.22%)
678.22k
CARACara Therapeutics Inc
$ 0.5434
(-20.03%)
3k
NAVINavient Corporation
$ 11.70
(-19.14%)
1
PRFXPainReform Ltd
$ 0.625
(-17.45%)
33.5k
PTPIPetros Pharmaceuticals Inc
$ 0.45
(-16.33%)
86.06k
NCINeo Concept International Group Holdings Ltd
$ 1.04
(59.36%)
9.55M
TSLLDirexion Daily TSLA Bull 2X Trust ETF
$ 8.32
(10.20%)
3.4M
LGVNLongeveron Inc
$ 2.39
(32.04%)
3.1M
DUOFangDD Network Group Ltd
$ 0.7662
(25.61%)
2.64M
TSLATesla Inc
$ 186.35
(5.11%)
1.76M

GDEN Discussion

View Posts
JamBop JamBop 4 years ago
20% to 50% from here easily
👍️0
mick mick 5 years ago
https://otcbb.swingtradebot.com/equities/GDEN
👍️0
mick mick 5 years ago
https://otcbb.swingtradebot.com/equities/GDEN:OTC
👍️0
mick mick 5 years ago
8 day-50 day-200 day-https://www.barchart.com/stocks/quotes/GDEN/technical-chart
👍️0
mick mick 5 years ago
Golden Entertainment (GDEN)
12.92 ? -0.06 (-0.46%)
Volume: 70,743 @10/04/19 4:33:08 PM EDT
Bid Ask Day's Range
11.92 19.0 12.85 - 13.13
GDEN Detailed Quote
👍️0
mick mick 5 years ago
8 day-50 day-200 day-https://www.barchart.com/stocks/quotes/GDEN/technical-chart
👍️0
mick mick 5 years ago
👍️0
mick mick 5 years ago
Media Contact:
Jesse Scott | 702-739-9933, ext. 228

Logo - http://photos.prnewswire.com/prnh/20150801/253916LOGO

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/golden-gaming-and-lakes-entertainment-merger-closes-300122237.html

SOURCE Golden Entertainment, Inc.

Copyright 2015 PR Newswire
👍️0
mick mick 5 years ago
Golden Entertainment (GDEN)
14.27 ? 0.18 (1.28%)
Volume: 94,864 @07/23/19 4:51:02 PM EDT
Bid Ask Day's Range
13.0 17.98 14.01 - 14.32
GDEN Detailed Quote
👍️0
mick mick 5 years ago
Golden Gaming and Lakes Entertainment Merger Closes Golden Entertainment, Inc. (NASDAQ:GDEN) Historical Stock Chart 1 Month :

From Jul 2015 to Aug 2015 Click Here for more Golden Entertainment, Inc. Charts.

LAS VEGAS and MINNEAPOLIS, Aug. 3, 2015 /PRNewswire/
-- Golden Entertainment, Inc. (formerly Lakes Entertainment, Inc.) (NASDAQ: LACO)
announced today that the merger between Sartini Gaming, Inc.
("Golden Gaming") and a subsidiary of Lakes Entertainment, Inc. has closed,
after receiving various approvals from the Lakes' shareholders
at the company's annual meeting on July 29. In connection with
the merger, Lakes has been renamed Golden Entertainment, Inc.

Golden Gaming and Lakes Entertainment Merger Closes The all-stock transaction unites two renowned and respected brands in the gaming space.

The newly combined company operates approximately 9,250 slot machines and video lottery terminals in Nevada and Maryland across four casino properties, 48 taverns and 670 route locations. Golden Entertainment's headquarters is now based in Las Vegas, Nevada.

"Today is a truly monumental and meaningful day for our company, our team members, our business partners and the markets we collectively serve," said Blake L. Sartini, the newly-appointed President, Chairman and Chief Executive Officer of Golden Entertainment, Inc.

"With Golden Entertainment, we now have a national, diversified gaming company with strong assets across the country.

And with this infrastructure, we look forward to further enhancing our unique blend of distributed gaming, casinos and taverns."
Lyle Berman, former Chairman of Lakes Entertainment Inc. stated,

"Our cash along with the Rocky Gap Casino, when combined with the diverse operations of Golden Gaming, provides an exciting growth opportunity for our existing and future shareholders.

The combined company's refinanced debt will provide an immediate benefit in company net income and free cash flow."

Lakes issued an aggregate of 8,229,908 shares of its common stock in connection with the merger, of which 7,772,736 shares (subject to post-closing adjustments) were issued to The Blake L. Sartini and Delise F. Sartini Family Trust, the sole shareholder of Golden Gaming.

The company's common stock continues to be traded on the NASDAQ Stock Market and its trading symbol, effective August 4, 2015, will be changed from "LACO" to "GDEN". In connection with the closing of the merger, the size of the board of directors of the combined company was increased from five to seven.

Larry Barenbaum and Ray Moberg resigned from the formerly Lakes Entertainment board. Subsequently, Blake Sartini was appointed the new Chairman of the Board of Golden Entertainment, and the remaining three vacancies were filled by the following appointees:

•Mark Lipparelli – Chief Executive Officer of Gioco Ventures, a strategic advisory and product development firm serving the gaming, investment, technology and entertainment industries across the globe.

Lipparelli also currently represents State Senate District 6 in the Nevada Legislature, a post he has held since December 2014.

Lipparelli is a board trustee of the University of Nevada Foundation, board member of the National Center for Responsible Gaming and served as a board member and Chairman of the Nevada State Gaming Control Board between 2009 and 2012.

•Robert Miodunski – former Chief Executive Officer of American Gaming Systems from 2010 until its acquisition by Apollo Entertainment in late 2014. Miodunski also previously served as Chief Executive Officer of Alliance Gaming Corporation from 2001 to 2004 and President of United Coin from 1994 to 1999.

From 2005 to 2008, Miodunski served on the board of directors of Elixir Gaming Technologies, Inc. •Terrence Wright – Chairman of the Board and majority owner of Westcor Land Title Insurance Company, a company he founded in 1991 and which is licensed to issue policies of title insurance throughout the United States.

Wright is currently on the board of Southwest Gas Corporation, is an emeritus member and past chairman of the University of Nevada Las Vegas Foundation Board and is the past chairman for the Nevada Development Authority, the Nevada Land Title Association and the Nevada Chapter of the Young Presidents' Organization. Messrs. Sartini, Lipparelli, Miodunski and Wright join existing directors Lyle A. Berman;

Timothy J. Cope (formerly President and Chief Financial Officer of Lakes) and Neil I. Sell on the Golden Entertainment board. The company's newly-appointed management team consists of Sartini; Chief Financial Officer Matthew W. Flandermeyer; and Chief Operating Officer Stephen A. Arcana.

Golden Entertainment also announced today the successful syndication and closing of a new $160 million senior secured credit facility, comprising a $120 million senior secured term loan (which was fully drawn at closing) and a $40 million senior secured revolving credit facility (of which $25 million was drawn at closing). The new facility matures in 2020.

Borrowings under the new facility bear interest, at the company's option, at either
1) the highest of the federal funds rate plus 0.50%, the Eurodollar rate for a one-month interest period plus 1.00%, or the administrative agent's prime rate as announced from time to time, or
(2) the Eurodollar rate for the applicable interest period, plus an applicable margin based on the company's leverage ratio ranging from 1.75% to 2.75% for Eurodollar loans and 0.75% to 1.75% for base rate loans.

Net proceeds from the new facility were used to repay and discharge all of the outstanding senior secured indebtedness of Golden Gaming as well as Lakes' outstanding Rocky Gap indebtedness.

The interest rates under the new senior secured credit facility, which are lower than previously anticipated, are expected to result in significant interest savings compared to Golden Gaming's prior interest expense.

Capital One and KeyBank National Association acted as the joint lead arrangers and joint book runners for the new facility. Capital One acted as administration agent and KeyBank National Association acted as syndication agent in connection with the new facility. Macquarie Capital served as Lakes' exclusive financial advisor. Gray, Plant, Mooty, Mooty & Bennett, P.A. served as legal counsel to Lakes.

Union Gaming Advisors, LLC served as Golden Gaming's financial advisor. Latham & Watkins LLP served as legal counsel to Golden Gaming. Hunton & Williams LLP served as legal counsel to the lenders. About Golden Entertainment, Inc. Golden Entertainment, Inc., formerly Lakes Entertainment, Inc., offers an unmatched blend of gaming diversity.

Through its three dynamic gaming divisions — Golden Casino Group, PT's Entertainment Group and Golden Route Operations — the Golden group of companies operates 9,250 slot machines and video lottery terminals, as well as 22 table games in Nevada and Maryland across four casino properties, 48 taverns and 670 route locations. Golden Casino Group offers four distinctive, inviting resorts:

In Pahrump, Nevada
- the Pahrump Nugget Hotel & Casino, Gold Town Casino, and Lakeside Casino and RV Park and in Flintstone, Maryland - the Rocky Gap Resort.

All feature an exciting mix of gaming, dining and entertainment and a superior level of guest service. PT's Entertainment Group is Nevada's largest tavern operator, with 48 establishments.

It operates PT's, Sierra Gold and Sean Patrick's in Southern Nevada and Sierra Gold and Sierra Junction in Northern Nevada. All Nevada locations feature the exclusive, proprietary Golden Rewards player rewards program.

Golden Route Operations is Nevada's largest distributed gaming operator, with more than 7,100 machines in 670 locations statewide. Golden Route Operations is a market leader in player tracking, rewards, player recognition and communication technology with its Golden Edge Slot Management System.

Golden Route Operations includes Albertsons, Smith's, Vons, CVS, Pilot Travel, Love's Travel and Buffalo Wild Wings as long-term national partners. For more information, visit www.goldenent.com. Media Contact: Jesse Scott | 702-739-9933, ext. 228 Logo -

http://photos.prnewswire.com/prnh/20150801/253916LOGO To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/golden-gaming-and-lakes-entertainment-merger-closes-300122237.html SOURCE Golden Entertainment, Inc. Copyright 2015 PR Newswire

👍️0
mick mick 5 years ago
GDEN News: Statement of Changes in Beneficial Ownership (4) 06/13/2019 05:46:57 PM
GDEN News: Statement of Changes in Beneficial Ownership (4) 06/12/2019 07:39:56 PM
👍️0
mick mick 5 years ago
GDEN News: Statement of Changes in Beneficial Ownership (4) 06/07/2019 04:49:14 PM
GDEN News: Statement of Changes in Beneficial Ownership (4) 06/07/2019 04:46:28 PM
GDEN News: Statement of Changes in Beneficial Ownership (4) 06/07/2019 04:44:20 PM
👍️0
mick mick 5 years ago
Golden Entertainment (GDEN)
14.0 ? 0.06 (0.43%)
Volume: 446,219 @06/28/19 5:14:59 PM EDT
Bid Ask Day's Range
13.0 16.9 13.79 - 14.02
GDEN Detailed Quote
👍️0
mick mick 5 years ago
YOU STILL LIKE ?????
👍️0
Drmicrocap Drmicrocap 9 years ago

Golden Entertainment Announces Third Quarter 2015 Results


– Completed Lakes Entertainment/Sartini Gaming Merger in July 2015 –

– Reports Nine Month Combined Adjusted EBITDA of $31.0 million, up 12% –

.

Business Wire
Golden Entertainment, Inc.
November 4, 2015 4:01 PM

LAS VEGAS--(BUSINESS WIRE)--

Golden Entertainment, Inc. (formerly Lakes Entertainment, Inc.) (GDEN) today announced financial results for the third quarter ended September 30, 2015.

Highlights for the Third Quarter Ended September 30, 2015
• On July 31, 2015, Sartini Gaming, Inc. (“Sartini Gaming”) merged with a subsidiary of Lakes Entertainment (the “Merger”). In connection with the Merger, Lakes Entertainment was renamed Golden Entertainment (“Golden Entertainment” or the “Company”). With the completion of the Merger, the Company owns and operates approximately 9,300 gaming devices, as well as approximately 30 table games across four casino properties, 48 taverns and 670 route locations.
• Net revenues for the three months ended September 30, 2015 were $62.5 million, an increase of 292% compared to the prior year period. For the quarter ended September 30, 2015, net income was $3.0 million, or $0.16 per diluted share, compared to a net loss of $(23.1) million, or $(1.72) per diluted share in the prior year quarter. These results include the operations of Sartini Gaming for 61 days during the quarter.
• Combined Net Revenues and Combined Adjusted EBITDA for the quarter ended September 30, 2015 were $86.2 million and $9.9 million, respectively, presented as if the results of Sartini Gaming had been included for the entire 2015 third quarter. The combined results reflect a 6.1% increase in net revenues for the Distributed Gaming segment compared to the prior year quarter.
• On July 31, 2015, the Company completed the syndication of a new $160.0 million senior secured credit facility maturing in 2020, of which $145.0 million was drawn at closing.
• Announced plans to add four Las Vegas tavern locations in 2016, including the opening of the Company’s first brewery.

“This quarter was transformational for the Company and with the completion of the Merger, we have achieved an exceptional combination of assets and team members. Everyone is excited by the opportunities arising out of this transaction,” said Blake L. Sartini, Chief Executive Officer of Golden Entertainment. “Going forward, in addition to the current portfolio that is generating strong free cash flow, we are focused on executing on a broad slate of long-term growth opportunities, both organic as well as strategic, while continuing to deliver a quality experience to customers and generating returns for shareholders.”

Combined Results for the Three and Nine Month Periods Ended September 30, 2015

The following unaudited combined results illustrate the net revenues and Adjusted EBITDA for the Company and Sartini Gaming on a combined basis for the three and nine months ended September 30, 2015 and September 28, 2014, for each segment, presented as if the Merger had occurred on the first day of each period presented. These unaudited 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 the periods presented, or of the future results of the Company. The unaudited combined results do not reflect any operating efficiencies and associated cost savings that may be achieved as a result of the Merger.


Unaudited Combined Results(1)(2)

(In thousands)

Three Months Ended (3) Nine Months Ended (4)
September 30, September 28, % September 30, September 28, %
2015 2014 Change 2015 2014 Change

Distributed Gaming $ 61,201 $ 57,673 6.1 % $ 186,008 $ 179,252 3.8 %
Casinos 24,973 25,614 -2.5 % 72,670 72,481 0.3 %
Corporate and other 48 45 6.7 % 324 109 197.2 %
Combined Net Revenues $ 86,222 $ 83,332 3.5 % $ 259,002 $ 251,842 2.8 %


Distributed Gaming $ 8,390 $ 7,182 16.8 % $ 27,739 $ 25,306 9.6 %
Casinos 5,737 5,491 4.5 % 15,257 15,181 0.5 %
Corporate and other (4,201 ) (3,896 ) 7.8 % (12,003 ) (12,890 ) -6.9 %
Combined Adjusted EBITDA $ 9,926 $ 8,777 13.1 % $ 30,993 $ 27,597 12.3 %


(1) Combined Net Revenues and Combined Adjusted EBITDA reflect the operations of Sartini Gaming for periods prior to the Merger combined with the operations of the Company. Such presentation does not conform with GAAP or the Securities and Exchange Commission rules for pro forma presentations; 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 and operation of gaming devices in certain strategic, high-traffic, non-casino locations (such as grocery stores, convenience stores, restaurants, bars and taverns) in Nevada, and the operation of traditional, branded taverns targeting local patrons, primarily in Clark County, Nevada. The Company’s Casinos segment consists of three casinos in Pahrump, Nevada and the Rocky Gap Casino Resort in Flintstone, Maryland.
(3) The unaudited combined financial information for the three months ended September 30, 2015 and September 28, 2014 is derived from the Company’s unaudited consolidated statements of operations for such periods and Sartini Gaming’s unaudited consolidated statements of operations for the three months ended September 30, 2014 and for the one month ended July 31, 2015.
(4) The unaudited combined financial information for the nine months ended September 30, 2015 and September 28, 2014 is derived from the Company’s unaudited consolidated statements of operations for such periods and Sartini Gaming’s unaudited consolidated statements of operations for the nine months ended September 30, 2014 and for the seven months ended July 31, 2015.


Results for the Three Months Ended September 30, 2015

Net revenues for the three months ended September 30, 2015 were $62.5 million, an increase of 292% compared to the prior year period. Adjusted EBITDA for the current year quarter was $7.1 million, compared to $1.6 million in the prior year quarter.

For the quarter ended September 30, 2015, net income was $3.0 million, or $0.16 per diluted share, compared to a net loss of $(23.1) million, or $(1.72) per diluted share in the prior year quarter. The current year results include the operations of Sartini Gaming for 61 days during the quarter. During the current year quarter, the Company incurred $9.3 million in Merger expenses, as well as an income tax benefit of $12.9 million. The results for the prior year quarter were impacted by impairments and other losses of $21.0 million related to an investment in Rock Ohio Ventures.

Results for the Nine Months Ended September 30, 2015

Net revenues for the nine months ended September 30, 2015 were $90.6 million, an increase of 114% from the prior year period. Adjusted EBITDA for the current year period was $8.9 million, compared to $1.2 million in the prior year.

For the nine months ended September 30, 2015, net income was $1.1 million, or $0.07 per diluted share, compared to a net loss of $(24.8) million, or $(1.85) per diluted share in the prior year period. The current year results include the operations of Sartini Gaming for 61 days during the nine months ended September 30, 2015. During the current year period, the Company incurred $10.6 million in Merger expenses, as well as an income tax benefit of $12.7 million. The results for the prior year period were impacted by impairments and other losses of $21.0 million related to an investment in Rock Ohio Ventures.

Balance Sheet, Liquidity and Capital Expenditures

As of September 30, 2015, the Company had cash and cash equivalents of $43.2 million and total outstanding debt of $146.4 million. Total debt outstanding included a fully drawn $120.0 million senior secured term loan and $25.0 million drawn under the Company’s $40.0 million senior secured revolving credit facility. The Company’s senior secured term loan and revolving credit facilities mature in July 2020. As of September 30, 2015, the weighted average effective interest rate on outstanding borrowings under these credit facilities was approximately 3.0%. Had Sartini Gaming operations been included in the Company’s results for the twelve months ended July 31, 2015, and had the new credit facilities been in place during that period, the Company estimates that it would have achieved combined annual interest expense savings of approximately $18 million as a result of a lower interest rate under the new credit facilities compared to actual rates applicable to the secured debt of the companies during that period.

For the third quarter ended September 30, 2015, capital expenditures were $1.3 million compared to $0.9 million in the prior year quarter.

Investor Conference Call and Webcast

The Company will host a webcast and conference call at 5:00 p.m. Eastern Time on November 4, 2015, to discuss third quarter 2015 results. The number to call is 1-888-438-5535 (domestic) or 1-719-325-2448 (international). 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 12, 2015, by dialing 1-877-870-5176 (domestic) or 1-858-384-5517 (international) and entering the passcode 1464875.

Forward-Looking Statements

This press release may be deemed to contain forward-looking statements that are subject to the safe harbors created under federal securities laws. Forward-looking statements can generally be identified by the use of words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “intend,” “plan,” “project,” “seek,” “should,” “think,” “will,” “would” and similar expressions. In addition, forward-looking statements include statements regarding the Company’s strategies, objectives, business opportunities and plans for future expansion, developments or acquisitions, anticipated future growth or trends in the Company’s business or key markets, projections of future financial condition or operating results, as well as other statements that are not statements of historical fact. Forward-looking statements are subject to assumptions, risks and uncertainties that may change at any time, and readers are therefore cautioned that actual results could differ materially from those expressed in any forward-looking statements. Factors that could cause actual results to differ include: the Company’s ability to realize the anticipated cost savings, synergies and other benefits from the Merger and integration risks, changes in national, regional and local economic and market conditions, legislative and regulatory matters, increases in gaming taxes and fees, litigation, increased competition, the Company’s ability to renew its distributed gaming contracts, reliance on key personnel, the level of the Company’s indebtedness and the Company’s ability to comply with covenants in its debt facilities, terrorist incidents, natural disasters, severe weather conditions, the effects of environmental and structural building conditions, the effects of disruptions to the Company’s information technology systems, and other factors affecting the gaming, entertainment and hospitality industries generally. In addition, please refer to the risk factors contained in the Company’s SEC filings available at www.sec.gov, including the Company’s most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Non-GAAP Financial Measures

To supplement the Company’s consolidated financial statements presented in accordance with generally accepted accounting principles (“GAAP”), the Company uses Adjusted EBITDA, Combined Net Revenues and Combined Adjusted EBITDA, which measures the Company believes are appropriate to provide meaningful comparison with, and to enhance an overall understanding of, the Company’s past financial performance and prospects for the future. The Company believes Adjusted EBITDA and Combined Adjusted EBITDA provide useful information to both management and investors by excluding specific expenses that the Company believes are not indicative of its core operating results. Further, Adjusted EBITDA is a measure of operating performance used by management, as well as industry analysts, to evaluate operations and operating performance and is widely used in the gaming industry. The presentation of this additional information is not meant to be considered in isolation or as a substitute for measures of financial performance prepared in accordance with GAAP. A reconciliation of net Income (loss) to Adjusted EBITDA and Combined Adjusted EBITDA is provided in the financial information tables below. Additionally, a reconciliation of net revenues to Combined Net Revenues is provided in the financial information tables below.

The Company defines “Adjusted EBITDA” as earnings before interest and other non-operating income (expense), taxes, depreciation and amortization, preopening expenses, merger expenses, share-based compensation expenses, impairments and other gains and losses. “Adjusted EBITDA” for a particular segment is Adjusted EBITDA before corporate overhead, which is not allocated to each segment.

About Golden Entertainment, Inc.

Golden Entertainment, Inc. owns and operates gaming properties across two divisions – distributed gaming and resort and casino operations. Golden Entertainment operates more than 9,300 gaming devices and 30 table games in Nevada and Maryland. The Company owns four casino properties, nearly 50 taverns and operates more than 670 distributed gaming locations in Nevada and Maryland. Golden Entertainment is focused on maximizing the value of its portfolio by leveraging its scale, leadership position, and proven management capabilities across its two divisions. For more information, visit www.goldenent.com.

Golden Entertainment, Inc.
Consolidated Statements of Operations and Comprehensive Income (Loss)

(Unaudited and in thousands)


Three Months Ended Nine Months Ended
September 30, September 28, September 30, September 28,
2015 2014 2015 2014
Revenues
Gaming $ 52,336 $ 12,072 $ 74,746 $ 33,460
Food and beverage 9,230 1,835 12,320 4,660
Rooms 2,141 1,940 5,010 4,884
Other operating 1,873 873 3,061 1,913
Gross Revenues 65,580 16,720 95,137 44,917
Less: Promotional allowances (3,068 ) (790 ) (4,530 ) (2,570 )
Net revenues 62,512 15,930 90,607 42,347
Expenses
Gaming 35,661 6,841 48,284 19,208
Food and beverage 6,824 1,366 9,143 3,589
Rooms 270 226 643 509
Other operating 813 470 1,555 1,131
Selling, general and administrative 12,134 5,455 22,542 16,918
Merger expenses 9,325 - 10,591 -
Gain on sale of cost method investment - - (750 ) (1,000 )
Charges related to arbitration award - 2,530 - 2,530
Impairments and other losses - 20,997 682 20,997
Preopening expenses 129 - 129 -
Gain on sale of land - (66 ) - (66 )
Loss on disposal of property and equipment 8 37 6 61
Depreciation and amortization 5,100 896 6,859 2,613
Total expenses 70,264 38,752 99,684 66,490
Loss from operations (7,752 ) (22,822 ) (9,077 ) (24,143 )
Other income (expense)
Interest expense, net (980 ) (258 ) (1,423 ) (813 )
Loss on extinguishment of debt (1,174 ) - (1,174 ) -
Other, net 50 4 86 169
Total other expense (2,104 ) (254 ) (2,511 ) (644 )
Loss before income taxes (9,856 ) (23,076 ) (11,588 ) (24,787 )
Benefit for income taxes 12,874 - 12,702 -
Net income (loss) 3,018 (23,076 ) 1,114 (24,787 )
Other comprehensive income (loss) 20 (3 ) 22 (2 )
Comprehensive income (loss) $ 3,038 $ (23,079 ) $ 1,136 $ (24,789 )

Weighted-average common shares outstanding
Basic 18,821 13,389 15,240 13,376
Dilutive impact of stock options 241 - 213 -
Diluted 19,062 13,389 15,453 13,376

Net income (loss) per share
Basic $ 0.16 $ (1.72 ) $ 0.07 $ (1.85 )
Diluted $ 0.16 $ (1.72 ) $ 0.07 $ (1.85 )


Golden Entertainment, Inc.
Consolidated Balance Sheets

(Unaudited and in thousands)


September 30, December 28,
2015 2014
ASSETS
Current assets
Cash and cash equivalents $ 43,156 $ 35,416
Short-term investments - 46,638

Accounts receivable, net of allowance for doubtful accounts of $0.6 million as of September 30, 2015
4,492 622
Income taxes receivable 2,299 -
Prepaid expenses 7,566 760
Other 2,716 425
Total current assets 60,229 83,861

Property and equipment 120,219 41,433
Accumulated depreciation (10,985 ) (8,694 )
Property and equipment, net 109,234 32,739

Other assets
Goodwill 90,639 -
Intangible assets, net 81,814 2,279
Land held for sale 960 -
Land held for development - 960
Income taxes receivable - 2,155
Other 2,502 35
Total other assets 175,915 5,429
Total assets $ 345,378 $ 122,029

LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities
Current portion of long term debt, net of discount $ 7,273 $ 1,368
Accounts payable 6,130 482
Accrued taxes, other than income taxes 645 439
Accrued payroll and related 3,614 1,573
Deposits 284 131
Other accrued expenses 3,454 1,479
Total current liabilities 21,400 5,472

Long-term debt, net of current portion and discount 139,100 8,941
Debt issuance costs, net (2,619 ) -
Other long-term obligations 2,996 -
Total liabilities 160,877 14,413
Commitments and contingencies
Shareholders' equity

Common stock, $0.01 par value; authorized 100,000 shares; 21,624 and 13,389 common shares issued and outstanding as of September 30, 2015 and December 28, 2014, respectively
350 268
Additional paid-in-capital 281,282 205,615
Retained earnings (accumulated deficit) (97,131 ) (98,245 )
Accumulated other comprehensive loss - (22 )
Total shareholders' equity 184,501 107,616
Total liabilities and shareholders' equity $ 345,378 $ 122,029


Golden Entertainment, Inc.
Reconciliation of Net Income (Loss) to Adjusted EBITDA

(Unaudited and in thousands)


Three Months Ended Nine Months Ended
September 30, September 28, September 30, September 28,
2015 2014 2015 2014
Adjusted EBITDA $ 7,101 $ 1,639 $ 8,850 $ 1,202
Preopening expenses (129 ) - (129 ) -
Impairments and other losses - (20,997 ) (682 ) (20,997 )
Share-based compensation (291 ) (67 ) (410 ) (210 )
Merger expenses (9,325 ) - (10,591 ) -
Depreciation and amortization (5,100 ) (896 ) (6,859 ) (2,613 )
Other, net (8 ) (2,501 ) 744 (1,525 )
Loss from operations (7,752 ) (22,822 ) (9,077 ) (24,143 )
Other income (expense)
Interest expense, net (980 ) (258 ) (1,423 ) (813 )
Other, net (1,124 ) 4 (1,088 ) 169
Total other expense, net (2,104 ) (254 ) (2,511 ) (644 )

Loss before income taxes (9,856 ) (23,076 ) (11,588 ) (24,787 )
Benefit for income taxes 12,874 - 12,702 -
Net income (loss) $ 3,018 $ (23,076 ) $ 1,114 $ (24,787 )


Sartini Gaming, Inc.
Reconciliation of Net Loss to Adjusted EBITDA

(Unaudited and in thousands)



One Month
Ended

Three Months
Ended

Seven Months
Ended

Nine Months
Ended

July 31, September 30, July 31, September 30,
2015 2014 2015 2014
Adjusted EBITDA $ 2,825 $ 7,138 $ 22,143 $ 26,395
Preopening expenses (106 ) (962 ) (565 ) (1,472 )
Debt restructuring expense (2,408 ) - (2,408 ) -
Merger expenses (88 ) (17 ) (1,372 ) (21 )
Depreciation and amortization (1,256 ) (3,956 ) (8,272 ) (10,988 )
Other, net 149 (260 ) (2,093 ) (418 )
Income (loss) from operations (884 ) 1,943 7,433 13,496
Other income (expense)
Interest expense, net (1,878 ) (5,444 ) (12,795 ) (16,157 )
Total other expense, net (1,878 ) (5,444 ) (12,795 ) (16,157 )

Loss before income taxes (2,762 ) (3,501 ) (5,362 ) (2,661 )
Benefit for income taxes - - - -
Net loss $ (2,762 ) $ (3,501 ) $ (5,362 ) $ (2,661 )


Golden Entertainment, Inc.
Reconciliation of Net Revenues to Combined Net Revenues

(Unaudited and in thousands)


Combined Net Revenues
Golden Entertainment, Inc. Sartini Gaming Golden Entertainment, Inc.
Three Months Ended One Month Ended Three Months Ended
September 30, July 31, September 30,
2015 2015 2015

Distributed Gaming $ 40,331 $ 20,870 $ 61,201
Casinos 22,133 2,840 24,973
Corporate and other 48 - 48
Net Revenues $ 62,512 $ 23,710 $ 86,222

Combined Net Revenues
Golden Entertainment, Inc. Sartini Gaming Golden Entertainment, Inc.
Three Months Ended Three Months Ended Three Months Ended
September 28, September 30, September 28,
2014 2014 2014

Distributed Gaming $ - $ 57,673 $ 57,673
Casinos 15,887 9,727 25,614
Corporate and other 43 2 45
Net Revenues $ 15,930 $ 67,402 $ 83,332

Combined Net Revenues
Golden Entertainment, Inc. Sartini Gaming Golden Entertainment, Inc.
Nine Months Ended Seven Months Ended Nine Months Ended
September 30, July 31, September 30,
2015 2015 2015

Distributed Gaming $ 40,331 $ 145,677 $ 186,008
Casinos 50,138 22,532 72,670
Corporate and other 138 186 324
Net Revenues $ 90,607 $ 168,395 $ 259,002

Combined Net Revenues
Golden Entertainment, Inc. Sartini Gaming Golden Entertainment, Inc.
Nine Months Ended Nine Months Ended Nine Months Ended
September 28, September 30, September 28,
2014 2014 2014

Distributed Gaming $ - $ 179,252 $ 179,252
Casinos 42,241 30,240 72,481
Corporate and other 106 3 109
Net Revenues $ 42,347 $ 209,495 $ 251,842


Golden Entertainment, Inc.
Reconciliation of Adjusted EBITDA to Combined Adjusted EBITDA

(Unaudited and in thousands)


Combined Adjusted EBITDA
Golden Entertainment, Inc. Sartini Gaming Golden Entertainment, Inc.
Three Months Ended One Month Ended Three Months Ended
September 30, July 31, September 30,
2015 2015 2015

Distributed Gaming $ 5,283 $ 3,107 $ 8,390
Casinos 5,094 643 5,737
Corporate and other (3,276 ) (925 ) (4,201 )
Adjusted EBITDA $ 7,101 $ 2,825 $ 9,926

Combined Adjusted EBITDA
Golden Entertainment, Inc. Sartini Gaming Golden Entertainment, Inc.
Three Months Ended Three Months Ended Three Months Ended
September 28, September 30, September 28,
2014 2014 2014

Distributed Gaming $ - $ 7,182 $ 7,182
Casinos 3,077 2,414 5,491
Corporate and other (1,438 ) (2,458 ) (3,896 )
Adjusted EBITDA $ 1,639 $ 7,138 $ 8,777

Combined Adjusted EBITDA
Golden Entertainment, Inc. Sartini Gaming Golden Entertainment, Inc.
Nine Months Ended Seven Months Ended Nine Months Ended
September 30, July 31, September 30,
2015 2015 2015

Distributed Gaming $ 5,283 $ 22,456 $ 27,739
Casinos 9,603 5,654 15,257
Corporate and other (6,036 ) (5,967 ) (12,003 )
Adjusted EBITDA $ 8,850 $ 22,143 $ 30,993

Combined Adjusted EBITDA
Golden Entertainment, Inc. Sartini Gaming Golden Entertainment, Inc.
Nine Months Ended Nine Months Ended Nine Months Ended
September 28, September 30, September 28,
2014 2014 2014

Distributed Gaming $ - $ 25,306 $ 25,306
Casinos 6,432 8,749 15,181
Corporate and other (5,230 ) (7,660 ) (12,890 )
Adjusted EBITDA $ 1,202 $ 26,395 $ 27,597




View source version on businesswire.com: http://www.businesswire.com/news/home/20151104006743/en/


Contact:

Investor Relations contact:
ICR
Jacques Cornet, 702-891-4264
ir@goldenent.com
or
Media contact:
B&P Public Relations
Lenora Kaplan, 702-589-2791
lkaplan@bpadlv.com
👍️0

Your Recent History

Delayed Upgrade Clock