Golden Entertainment reports Q1 2025 revenue of $160.8m, net income falls 94%
The fall in net income appears to be primarily attributed to a loss on sale of business throughout Q1 2025, which accounted for over $69.7m of income for the first quarter of 2024.
Key Points
- The company’s gaming operations accounted for nearly $80.3m of revenue throughout Q1 2025, but still witnessed a decrease of 7.7% year-over-year
- Golden Entertainment reported an adjusted EBITDA of $37.6m for the first quarter of 2025, equating to a fall of 8.3% from the prior year period
Golden Entertainment has reported its financial results for the first quarter of 2025, including decreases in both revenue and net income of 7.6% and 94% year-over-year, respectively, for totals of $160.8m and just $2.5m throughout the period.
“Our focus on customer experience and operational efficiencies allowed us to generate strong financial performance despite uncertain macroeconomic conditions,” Golden Entertainment Chairman and CEO Blake Sartini said.
“Our business remains resilient and we intend to continue to opportunistically repurchase our common stock under our current buyback authorization.”
The company repurchased 273,945 shares of common stock throughout the first quarter of 2025 at an average price of $27.79 per share for a total of $7.6m, with $91.8m still remaining under its share repurchase authorization.
Net income and diluted earnings per share for Q1 2024 included the benefit of a $69.7m gain on the sale of distributed gaming operations in Nevada completed during the quarter, primarily attributing to the significant fall in net income.
Golden Entertainment reported a revenue total of $80.3m for its gaming operations throughout the first quarter of 2025, representing a decrease of 7.7% year-over-year, while food & beverage and rooms accounted for an additional $42.3m and $27.2m of revenue, respectively.
Good to know: Boyd Gaming released the company’s financial results throughout the first quarter of 2025 on April 24, including an increase in total revenue of 3.2% year-over-year for a total of $991.6m, while net income fell by 18.6% during Q1 2025 to report $110.9m
The company also managed to generate an adjusted EBITDA of $37.6m for Q1 2025, but the total equates to a decrease of 8.3% from the prior year period, with $24.8m stemming from Nevada Casino Resorts, and nearly $17.9m having been produced by Nevada Locals Casinos.
Nevada Casino Resorts reported a Q1 2025 revenue of $94.2m, while Nevada Locals Casinos produced an additional $38.8m throughout the period, and Taverns in the state accounted for close to $27.5m.
| Company | Q1 2025 Revenue | Percent Change |
| Boyd Gaming | $991.6m | 3.2% |
| GLPI | $395.2m | 5.1% |
| Monarch Casino & Resort | $125.4m | 3.1% |
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