Golden Entertainment Files Q3 2024 10-Q
Ticker: GDEN · Form: 10-Q · Filed: Nov 8, 2024 · CIK: 1071255
Sentiment: neutral
Topics: 10-Q, earnings, gaming, financials
TL;DR
Golden Ent. 10-Q filed: Q3 & YTD financials out. Check it.
AI Summary
Golden Entertainment, Inc. filed its 10-Q for the period ending September 30, 2024. The company reported financial results for the third quarter and the first nine months of the year, detailing revenues and expenses across its casino and distributed gaming segments. Specific financial figures for these periods are detailed 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 operational health and future prospects in the gaming industry.
Risk Assessment
Risk Level: medium — 10-Q filings are standard financial reports, but the gaming industry can be subject to regulatory and economic risks.
Key Numbers
- 2024-09-30 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial data is reported.)
- 2024-11-08 — 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
- 20240930 (date) — End of the reporting period
- 20241108 (date) — Filing date
- LAS VEGAS (location) — Company's business and mailing address
FAQ
What were the total revenues for Golden Entertainment in the third quarter of 2024?
The filing indicates financial results for the third quarter of 2024 (July 1, 2024 to September 30, 2024) but does not explicitly state the total revenue figure in the provided header information.
What is the company's primary industry classification?
Golden Entertainment, Inc. is classified under SERVICES-MISCELLANEOUS AMUSEMENT & RECREATION [7990].
When was the company formerly known as Lakes Entertainment Inc.?
The company changed its name from LAKES ENTERTAINMENT INC. on August 6, 2002.
What is the fiscal year end for Golden Entertainment?
The company's fiscal year ends on December 31.
Where is Golden Entertainment, Inc. headquartered?
The company's business and mailing address is located at 6595 S JONES BLVD, LAS VEGAS, NV 89118.
Filing Stats: 4,650 words · 19 min read · ~16 pages · Grade level 18.5 · Accepted 2024-11-08 12:44:35
Key Financial Figures
- $0.01 — ange on which registered Common Stock, $0.01 par value GDEN The Nasdaq Stock Market
Filing Documents
- gden-20240930.htm (10-Q) — 1304KB
- a93024ex311.htm (EX-31.1) — 10KB
- a93024ex312.htm (EX-31.2) — 10KB
- a93024ex321.htm (EX-32.1) — 8KB
- 0001071255-24-000107.txt ( ) — 7488KB
- gden-20240930.xsd (EX-101.SCH) — 44KB
- gden-20240930_cal.xml (EX-101.CAL) — 90KB
- gden-20240930_def.xml (EX-101.DEF) — 241KB
- gden-20240930_lab.xml (EX-101.LAB) — 626KB
- gden-20240930_pre.xml (EX-101.PRE) — 440KB
- gden-20240930_htm.xml (XML) — 1225KB
FINANCIAL STATEMENTS (Unaudited)
FINANCIAL STATEMENTS (Unaudited) 1 Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 1 Consolidated Statements of Operations for the three and nine months ended September 30, 2024 and 2023 2 Consolidated Statements of Shareholders' Equity for the three and nine months ended September 30, 2024 and 2023 3 Consolidated Statements of Cash Flows for the nin e months ended September 30, 2024 and 2023 5 Condensed Notes to Consolidated Financial Statements 7 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 21 ITEM 3.
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 31 ITEM 4.
CONTROLS AND PROCEDURES
CONTROLS AND PROCEDURES 31 PART II. OTHER INFORMATION 31 ITEM 1.
LEGAL PROCEEDINGS
LEGAL PROCEEDINGS 31 ITEM 1A.
RISK FACTORS
RISK FACTORS 32 ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 32 ITEM 5. OTHER INFORMATION 32 ITEM 6. EXHIBITS 33
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS GOLDEN ENTERTAINMENT, INC. Consolidated Balance Sheets (In thousands, except per share data) September 30, 2024 December 31, 2023 (unaudited) ASSETS Current assets Cash and cash equivalents $ 68,551 $ 157,550 Accounts receivable, net of allowance for credit losses of $ 85 and $ 696 at September 30, 2024 and December 31, 2023, respectively 13,535 16,951 Prepaid expenses 14,912 22,042 Inventories 7,569 8,097 Other 925 531 Assets held for sale — 204,271 Total current assets 105,492 409,442 Property and equipment, net 764,990 786,145 Operating lease right-of-use assets, net 80,758 79,396 Goodwill 88,313 84,325 Intangible assets, net 54,684 53,935 Deferred income tax assets — 29,508 Other assets 7,347 9,532 Total assets $ 1,101,584 $ 1,452,283 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities Current portion of long-term debt and finance leases $ 5,294 $ 4,596 Current portion of operating leases 14,955 13,745 Accounts payable 19,392 18,702 Income tax payable 6,090 42,055 Accrued payroll and related 18,821 21,406 Accrued liabilities 30,200 34,639 Liabilities related to assets held for sale — 39,233 Total current liabilities 94,752 174,376 Long-term debt, net and non-current finance leases 386,274 658,521 Non-current operating leases 80,953 81,325 Deferred income tax liabilities 26,263 — Other long-term obligations 210 328 Total liabilities 588,452 914,550 Commitments and contingencies (Note 10) Shareholders' equity Common stock, $ .01 par value; authorized 100,000 shares; 27,563 and 28,669 common shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively 276 287 Additional paid-in capital 480,282 475,970 Retained earnings 32,574 61,476 Total shareholders' equity 513,132 537,733 Total liabilities and shareholders' equity $ 1,101,584 $ 1,452,283 The accompanying condensed notes are an integral part of these consolidated financial statements. 1 GOLDEN ENTERTAI