Golden Entertainment reported slight declines in second-quarter revenue and adjusted earnings.
During an earnings call Thursday, the company reported Q2 revenue of $163.6 million compared to $167.3 million for the second quarter of 2024. Net income for the second quarter was $4.6 million compared to net income of $0.6 million for 2024.
Second-quarter 2025 adjusted EBITDA was $38.4 million compared to adjusted EBITDA of $41.2 million for the second quarter of 2024.
Golden’s casino resorts that include The Strat on the Strip reported $98.1 million in revenue, down from $101 million a year ago.
Locals casinos reported $38.9 million in revenue, up from $37.8 million a year ago. The Nevada tavern business reported $26.2 million in revenue, down from $28.1 million a year ago.
Adjusted EBITDA was $25.9 million for Golden’s resorts, down from $27.3 million a year ago. Locals casinos had $18 million, up from $16.9 million. The tavern business reported $5.8 million, down from $7.7 million.
Golden reported that gaming revenue during the quarter of $78.7 million surpassed the $78.2 million a year ago. Food and beverage revenue fell from $43.1 million a year ago to $41 million this year. Room revenue fell from $31.4 million a year ago to $29.4 million this year.
The company paid a quarterly cash dividend of $0.25 per share on July 9. On August 5, the company’s Board of Directors authorized the next recurring quarterly cash dividend of $0.25 per share payable on October 3 to shareholders of record as of September 25.
Golden repurchased 514,150 shares of its common stock in the second quarter at an average price of $28.47 per share for a total of $14.6 million. As of June 30, the company had $77.2 million remaining under its share-repurchase authorization.
As of June 30, Golden’s total principal amount of debt outstanding was $436.9 million, consisting primarily of $392 million in outstanding term-loan borrowings and $40 million in outstanding borrowings under the company’s revolving credit facility.
As of June 30, 2025, Golden had cash and cash equivalents of $52.3 million and $200 million of remaining availability under its revolving credit facility.
