Golden Entertainment Files Q2 2024 10-Q
Ticker: GDEN · Form: 10-Q · Filed: Aug 9, 2024 · CIK: 1071255
Sentiment: neutral
Topics: 10-Q, earnings, gaming
TL;DR
**GOLDEN ENTERTAINMENT (GDEN) files Q2 10-Q. Financials out.**
AI Summary
Golden Entertainment, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported financial results for the second quarter and the first half of the year, detailing revenues from its casino and distributed gaming segments. Specific financial figures and operational details are provided within the filing.
Why It Matters
This filing provides investors and analysts with the latest financial performance data for Golden Entertainment, Inc., crucial for understanding the company's current operational health and future prospects in the gaming and hospitality sector.
Risk Assessment
Risk Level: medium — As a publicly traded company in the volatile gaming and entertainment sector, Golden Entertainment faces inherent market and operational risks that are detailed in its SEC filings.
Key Numbers
- 20240630 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial data is reported.)
- 20240809 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
Key Players & Entities
- GOLDEN ENTERTAINMENT, INC. (company) — Filer of the 10-Q report
- 20240630 (date) — End of the reporting period
- 20240809 (date) — Filing date of the report
- LAS VEGAS, NV (location) — Company's business and mailing address
FAQ
What were the total revenues for Golden Entertainment in the second quarter of 2024?
The filing does not explicitly state the total revenue figure in the provided snippet, but it indicates financial results for the period ending June 30, 2024.
What is the primary business segment of Golden Entertainment?
Golden Entertainment, Inc. operates in the Services-Miscellaneous Amusement & Recreation sector, with specific segments including Casino, Food & Beverage, and Occupancy.
When was the company formerly known as Lakes Entertainment Inc.?
The company was formerly known as Lakes Entertainment Inc. until a name change on August 6, 2002.
Where is Golden Entertainment, Inc. headquartered?
Golden Entertainment, Inc. is located in Las Vegas, Nevada, with its business and mailing address at 6595 S Jones Blvd, Las Vegas, NV 89118.
What is the fiscal year end for Golden Entertainment?
The fiscal year end for Golden Entertainment, Inc. is December 31.
Filing Stats: 4,681 words · 19 min read · ~16 pages · Grade level 18.2 · Accepted 2024-08-09 12:08:06
Key Financial Figures
- $0.01 — ange on which registered Common Stock, $0.01 par value GDEN The Nasdaq Stock Market
Filing Documents
- gden-20240630.htm (10-Q) — 1231KB
- a63024ex311.htm (EX-31.1) — 10KB
- a63024ex312.htm (EX-31.2) — 10KB
- a63024ex321.htm (EX-32.1) — 8KB
- 0001071255-24-000092.txt ( ) — 7134KB
- gden-20240630.xsd (EX-101.SCH) — 43KB
- gden-20240630_cal.xml (EX-101.CAL) — 90KB
- gden-20240630_def.xml (EX-101.DEF) — 231KB
- gden-20240630_lab.xml (EX-101.LAB) — 616KB
- gden-20240630_pre.xml (EX-101.PRE) — 425KB
- gden-20240630_htm.xml (XML) — 1156KB
FINANCIAL STATEMENTS (Unaudited)
FINANCIAL STATEMENTS (Unaudited) 1 Consolidated Balance Sheets as of June 3 0 , 2024 and December 31, 2023 1 Consolidated Statements of Operations for the three and six months ended June 3 0 , 2024 and 2023 2 Consolidated Statements of Shareholders' Equity for the three and six months ended June 3 0 , 2024 and 2023 3 Consolidated Statements of Cash Flows for the six months ended June 3 0 , 2024 and 2023 4 Condensed Notes to Consolidated Financial Statements 6 ITEM 2.
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 19 ITEM 3.
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 28 ITEM 4.
CONTROLS AND PROCEDURES
CONTROLS AND PROCEDURES 28 PART II. OTHER INFORMATION 29 ITEM 1.
LEGAL PROCEEDINGS
LEGAL PROCEEDINGS 29 ITEM 1A.
RISK FACTORS
RISK FACTORS 29 ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 29 ITEM 5. OTHER INFORMATION 29 ITEM 6. EXHIBITS 30
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS GOLDEN ENTERTAINMENT, INC. Consolidated Balance Sheets (In thousands, except per share data) June 30, 2024 December 31, 2023 (unaudited) ASSETS Current assets Cash and cash equivalents $ 88,638 $ 157,550 Accounts receivable, net of allowance for credit losses of $ 284 and $ 696 at June 30, 2024 and December 31, 2023, respectively 16,847 16,951 Prepaid expenses 17,012 22,042 Inventories 7,032 8,097 Other 585 531 Assets held for sale — 204,271 Total current assets 130,114 409,442 Property and equipment, net 778,371 786,145 Operating lease right-of-use assets, net 83,858 79,396 Goodwill 88,313 84,325 Intangible assets, net 55,354 53,935 Deferred income tax assets 37,351 29,508 Other assets 7,860 9,532 Total assets $ 1,181,221 $ 1,452,283 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities Current portion of long-term debt and finance leases $ 4,699 $ 4,596 Current portion of operating leases 14,776 13,745 Accounts payable 18,698 18,702 Income tax payable 74,050 42,055 Accrued payroll and related 17,640 21,406 Accrued liabilities 39,459 34,639 Liabilities related to assets held for sale — 39,233 Total current liabilities 169,322 174,376 Long-term debt, net and non-current finance leases 388,243 658,521 Non-current operating leases 84,374 81,325 Other long-term obligations 250 328 Total liabilities 642,189 914,550 Commitments and contingencies (Note 10) Shareholders' equity Common stock, $ .01 par value; authorized 100,000 shares; 28,315 and 28,669 common shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 283 287 Additional paid-in capital 478,567 475,970 Retained earnings 60,182 61,476 Total shareholders' equity 539,032 537,733 Total liabilities and shareholders' equity $ 1,181,221 $ 1,452,283 The accompanying condensed notes are an integral part of these consolidated financial statements. 1 GOLDEN ENTERTAINMENT, INC. Consolidated Statements of Operation