Golden Entertainment reports record $1.1bn in full year 2021 revenue

Golden Entertainment generated $282m in revenue for Q4 2021, up 37% from 2020, and bringing its full-year total to $1.1bn for a 58% increase.

The casino company, based in Enterprise, Nevada, saw its growth trajectory remain consistent for the fourth quarter, driving its whole-year revenue to record levels.

Likewise, Adjusted EBITDA amounted to $67.8m, a 72% increase from Q4 2020’s $39.4m, and up 165% to $291.7m for the full year.

Adjusted EBITDA margin, meanwhile, was 24% for the fourth quarter of 2021, compared to 19% for the prior-year period, and 27% for the 2021 full year.

Golden Entertainment’s distributed gaming and Nevada casino resorts were responsible for the majority of Q4 2021’s revenue.

These areas brought in $104.5m and $118.3m respectively for a combined sum of $222.8m, or nearly 80% of Q4’s total.

For 2021 as a whole, distributed gaming generated $467.6m in revenue, while Nevada casino resorts produced $389.7m, up from $278.3m and $250.6m respectively.

“Our strong fourth quarter results concluded a record year for Golden, as we successfully navigated challenges to our operations throughout 2021,” remarked Blake Sartini, Golden Entertainment’s Chairman and CEO.

“The improved performance across our diverse operations drove our total annual revenue to over $1bn for the first time in history with full year Adjusted EBITDA growing to $292m, almost 60% higher than full year 2019.”

In closing, Sartini turned his attention towards the future, adding: “For 2022, we are focused on maximising our operating performance and cash flow which will position the company to refinance its existing indebtedness and accelerate returning capital to shareholders.”