Golden Entertainment, Inc. reported second quarter 2025 GAAP revenue of $163.6 million, a 2.2% decrease from $167.3 million in the prior year. GAAP earnings per share came in at $0.17, surpassing the consensus estimate of $0.15.
The Nevada Locals Casinos segment demonstrated resilience, with revenue rising 2.8% and Adjusted EBITDA climbing 6.7% compared to the prior year. This segment's strong performance helped offset declines in other areas of the business.
Conversely, the Nevada Casino Resorts segment saw revenue and Adjusted EBITDA decline by 2.9% and 5.2% respectively, while Nevada Taverns experienced a 6.7% drop in revenue and a 24.5% fall in Adjusted EBITDA. The tavern segment faced increased promotional activity from smaller private operators.
Golden Entertainment continued its capital return strategy, repurchasing 514,150 shares for $14.6 million at an average price of $28.47 per share during the quarter. The company maintained its quarterly dividend at $0.25 per share, with $77.2 million remaining authorized for buybacks as of June 30, 2025.
As of June 30, 2025, total debt stood at $436.9 million, with cash holdings of $52.3 million and $200 million available under its revolving credit facility. Management noted efforts to reduce reliance on third-party online booking agents, with OTA bookings declining to 65%.
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