Golden Entertainment Inc (GDEN) Q2 2024 Earnings Call Highlights: Record STRAT Hotel Revenue ...

GuruFocus.com10-10

Revenue: $167 million in the second quarter. EBITDA: $41 million in the second quarter. Total Property Revenue Decline: 1.4% decline in the second quarter. Consolidated EBITDA Decline: 4.9% decline in...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2474678590?lang=en_US&edition=fundamental","thumbnail":"https://s.yimg.com/uu/api/res/1.2/11AhzroNoGXBIdQ0eu0htQ--~B/aD01ODt3PTIyMDthcHBpZD15dGFjaHlvbg--/https://media.zenfs.com/en/us.finance.gurufocus/479bb1775112c787e8b5af19fa5b902c","is_english":true,"pubTime":"2024-10-10 06:00","share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","id":"2474678590","market":"us","top_or_hot":-1,"title":"Golden Entertainment Inc (GDEN) Q2 2024 Earnings Call Highlights: Record STRAT Hotel Revenue ...","media":"GuruFocus.com","content":"<div>\n<p>Revenue: $167 million in the second quarter.\nEBITDA: $41 million in the second quarter.\nTotal Property Revenue Decline: 1.4% decline in the second quarter.\nConsolidated EBITDA Decline: 4.9% decline in...</p>\n\n<a href=\"https://finance.yahoo.com/news/golden-entertainment-inc-gden-q2-220035962.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Golden Entertainment Inc (GDEN) Q2 2024 Earnings Call Highlights: Record STRAT Hotel Revenue ...</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGolden Entertainment Inc (GDEN) Q2 2024 Earnings Call Highlights: Record STRAT Hotel Revenue ...\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-10 06:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/golden-entertainment-inc-gden-q2-220035962.html><strong>GuruFocus.com</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Revenue: $167 million in the second quarter.\nEBITDA: $41 million in the second quarter.\nTotal Property Revenue Decline: 1.4% decline in the second quarter.\nConsolidated EBITDA Decline: 4.9% decline in...</p>\n\n<a href=\"https://finance.yahoo.com/news/golden-entertainment-inc-gden-q2-220035962.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"GDEN","symbol_name":"黄金娱乐","start_time":0,"source_url":"https://finance.yahoo.com/news/golden-entertainment-inc-gden-q2-220035962.html","article_id":"2474678590","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/11AhzroNoGXBIdQ0eu0htQ--~B/aD01ODt3PTIyMDthcHBpZD15dGFjaHlvbg--/https://media.zenfs.com/en/us.finance.gurufocus/479bb1775112c787e8b5af19fa5b902c"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2474678590","pubTimestamp":1728511235,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Total Property Revenue Decline: 1.4% decline in the second quarter.Consolidated EBITDA Decline: 4.9% decline in the second quarter.STRAT Hotel Revenue: Record Q2 with ADR up 8% and total occupancy up 4% to 73%.Midweek Occupancy at STRAT: Improved 2% to 64%.Nevada Tavern Revenue Increase: Up 3% over last year.Total Tavern Locations: 71 at the end of June, with a 72nd opening in Q3.Cash on Hand: $89 million at the end of the quarter.Interest Rate Reduction: Reduced by 60 basis points to SOFR plus 2.25%.Share Repurchase: Nearly 1 million shares repurchased in Q2.Share Repurchase Authorization Availability: $61 million at the end of the quarter.Capital Returned to Shareholders: Over $110 million in the last 18 months.GuruFocus has detected 4 Warning Signs with NGL.Golden Entertainment Inc  has a strong balance sheet with a net leverage below 2 times and $89 million in cash.The Tavern business faced EBITDA declines due to additional costs from acquired locations and increased labor expenses","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"GDEN":"黄金娱乐"},"translate_title":"Golden Entertainment Inc(GDEN)2024年第二季度收益看涨期权亮点：创纪录的STRAT酒店收入...","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"GDEN":1},"content_text":"Revenue: $167 million in the second quarter.\nEBITDA: $41 million in the second quarter.\nTotal Property Revenue Decline: 1.4% decline in the second quarter.\nConsolidated EBITDA Decline: 4.9% decline in the second quarter.\nNevada Casino Resorts Revenue Decline: 1.4% decline.\nNevada Casino Resorts EBITDA Decline: 2.3% decline.\nSTRAT Hotel Revenue: Record Q2 with ADR up 8% and total occupancy up 4% to 73%.\nWeekend Occupancy at STRAT: 97%.\nMidweek Occupancy at STRAT: Improved 2% to 64%.\nNevada Locals Casinos Revenue Decline: 4.9% decline.\nNevada Locals Casinos EBITDA Decline: 13% decline.\nNevada Tavern Revenue Increase: Up 3% over last year.\nTotal Tavern Locations: 71 at the end of June, with a 72nd opening in Q3.\nSame-Store Revenue Decline: 2.4% decline.\nSame-Store Gaming Revenue Increase: 6% increase.\nOutstanding Debt: $396 million term loan.\nCash on Hand: $89 million at the end of the quarter.\nAdditional Liquidity: $240 million from unfunded revolver.\nInterest Rate Reduction: Reduced by 60 basis points to SOFR plus 2.25%.\nAnnual Interest Savings: $2.4 million.\nNet Leverage: Below 2 times.\nQuarterly Cash Dividend: $0.25 per share.\nShare Repurchase: Nearly 1 million shares repurchased in Q2.\nShare Repurchase Authorization Availability: $61 million at the end of the quarter.\nCapital Returned to Shareholders: Over $110 million in the last 18 months.\n\n\nWarning! GuruFocus has detected 4 Warning Signs with NGL.\n\nRelease Date: August 08, 2024\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.\n Positive Points \n\nGolden Entertainment Inc (NASDAQ:GDEN) achieved record Q2 hotel revenue at the STRAT with an 8% increase in ADR and a 4% rise in total occupancy.\nThe company successfully reduced its interest rate by 60 basis points, resulting in $2.4 million of annual interest savings.\nGolden Entertainment Inc (NASDAQ:GDEN) has a strong balance sheet with a net leverage below 2 times and $89 million in cash.\nThe company repurchased nearly 1 million shares in Q2 and plans to continue share buybacks, demonstrating a commitment to returning capital to shareholders.\nAtomic Golf, a new attraction, is gaining momentum and is expected to drive additional visitors to the STRAT.\n\n Negative Points \n\nTotal property revenue declined by 1.4% and consolidated EBITDA decreased by 4.9% in the second quarter.\nNevada casino resorts experienced a 1.4% decline in revenue and a 2.3% drop in EBITDA.\nThe Laughlin segment saw declines in revenue and EBITDA due to reduced large-scale entertainment acts and increased labor costs.\nNevada locals casinos reported a 4.9% decline in revenue and a 13% drop in EBITDA, primarily due to decreased visitation and spend from lower-tier customers.\nThe Tavern business faced EBITDA declines due to additional costs from acquired locations and increased labor expenses.\n\n Q & A Highlights \nQ: Can you provide an update on Atomic Golf's performance and its impact on cross-selling to the STRAT? A: Blake Sartini, Chairman, President, Chief Executive Officer: Atomic Golf has met or exceeded physical expectations, though it had a slow start. They have adjusted their staffing and marketing efforts, leading to increased momentum. We anticipate significant cross-traffic between Atomic Golf and the STRAT due to its location.\nQ: With recent closures of Strip properties, do you see Golden Entertainment as a potential beneficiary? A: Charles Protell, President, Chief Financial Officer, Treasurer: The reduction in room supply, particularly in the center and South Strip, is beneficial for us as we approach the fall season.\nQ: How are you addressing the midweek occupancy gap compared to 2019 levels? A: Charles Protell, President, Chief Financial Officer, Treasurer: We have improved midweek occupancy by 2% to 3% each quarter through increased direct bookings. We continue to focus on this strategy, expecting further progress in the coming quarters.\nQ: Can you elaborate on the shift to smaller scale events in Laughlin and its impact on profitability? A: Charles Protell, President, Chief Financial Officer, Treasurer: We shifted to smaller, more frequent events due to high costs and low profitability of larger acts. This strategy has improved profitability by reducing risk and focusing on player-driven events.\nQ: What is your approach to share repurchases given the current stock valuation? A: Charles Protell, President, Chief Financial Officer, Treasurer: We plan to maintain the pace of share repurchases, spending approximately $30 million each quarter. We have the flexibility to use our $240 million unfunded revolver if necessary, as we believe our stock is undervalued.\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.This article first appeared on \nGuruFocus.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2474678590"}