Golden Entertainment revenue falls 2.2% for Q2 2025, net income grows to $4.6m

Golden Entertainment has reported its financial results for the second quarter of 2025, witnessing a revenue decrease of 2.2% year-over-year for a total of $163.6m despite net income growing by a significant 643.5% from the prior-year period to $4.6m. 

While net income grew by a noticeable margin for Q2 2025, the operator’s adjusted EBITDA throughout the period was reported to be $38.4m, falling by 6.7%. Nevada Casino Resorts accounted for $98.2m of the total revenue generated by Golden Entertainment throughout Q2 2025, but decreased 2.9% when compared to the second quarter of 2024. 

Nevada Locals Casinos and Nevada Taverns reported Q2 2025 revenues of $38.9m and $26.3m, respectively, representing growth of 2.8% but a decrease of 6.7% as well. Golden Entertainment witnessed an adjusted EBITDA of nearly $26m for Nevada Casino Resorts, representing a fall of 5.2%. 

Throughout Q2 2025, Nevada Locals Casino generated an adjusted EBITDA of $18.1m, increasing by 6.7% while Nevada Taverns’ adjusted EBITDA fell 24.6% to $5.9m. Along with a decrease in revenue for the quarter, Golden Entertainment’s operating income was just over $11.9m, decreasing by 12%. 

Food & beverage and rooms generated $41.1m and $29.4m of revenue, respectively, for the period, but both figures represent falls of 4.7% and 6.4%. Gaming was the only vertical to witness an increase in revenue throughout the period, rising 0.6% for a total of just over $78.7m. 

Good to know: Full House Resorts released its financial results for Q2 2025 on August 7 as well, while operators such as Boyd Gaming reported in July

Perhaps factoring into the increase for net income was a $2m+ decrease in operating expenses for Golden Entertainment when compared to Q2 2024, as total costs for the second quarter of 2025 were reported to be $151.7m. 

As of June 30, 2025, Golden Entertainment’s total principal amount of debt outstanding was $436.9m, primarily driven by $392m in outstanding term loan borrowings and $40m in outstanding borrowings under the operator’s revolving credit facility.

Kirk Geller

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