Golden Entertainment repays $239m of debt in 2023

Golden Entertainment has revealed in its financial report that it repaid more than $60m of debt in Q4 2023, bringing the total for FY23 up to $239m.

Q4 also brought a revenue of $230.7m, a net loss of $9.4m, and an Adjusted EBITDA of $48.8m.

Full year results came in with a revenue of $1.1bn, a net income of $255.8m and an Adjusted EBITDA of $222.5m.

“In January, we completed the sale of our Nevada distributed gaming business, completing a year-long process of divesting our non-core assets that also included the sale of our casino resort in Maryland and our Montana distributed gaming business,” said Blake Sartini, chairman and CEO of Golden.

“Following these transactions, our portfolio is comprised of Nevada casino resorts, Nevada locals casinos and Nevada’s largest branded tavern portfolio, all of which are expected to benefit from Nevada’s positive economic trends.

“The completion of our non-core divestitures generated significant cash proceeds, which strengthened our balance sheet, created strategic and financial flexibility, and facilitates returning capital to our shareholders.”