Declines in revenues and Adjusted EBITDA were primarily due to the exclusion of full quarter results for the Company’s Rocky Gap Casino Resort and the Montana distributed gaming business that were sold during the third quarter. Third quarter 2023 Adjusted EBITDA was $53.2 million, compared to Adjusted EBITDA of $61.1 million for the third quarter of 2022. Net income for the third quarter of 2023 was $241.2 million, or $7.83 per fully diluted share, compared to net income of $14.0 million, or $0.45 per fully diluted share, for the third quarter of 2022. Third quarter 2023 revenues were $257.7 million, compared to $279.0 million for the third quarter of 2022.

As of September 30, 2023, the Company had approximately $91 million of availability remaining under its share repurchase authorization. In addition, the Company paid a one-time cash dividend of $2.00 per share of its outstanding common stock and repurchased 252,395 shares of common stock for total consideration of $9.1 million in the third quarter of 2023. The Company allocated $175 million of the cash proceeds from the sale of Rocky Gap Casino Resort to repay its remaining borrowings outstanding under the original term loan. The completion of these transactions significantly strengthens our balance sheet, enables return of capital to shareholders and provides financial flexibility to enhance shareholder value.” Following our divestiture of Rocky Gap Casino Resort in July, we completed the sale of our Montana distributed gaming business in September and we remain on track to complete the sale of our Nevada distributed gaming business at the end of the year. Our Nevada Locals Casinos segment maintained the strong performance we have seen throughout the year, while our taverns experienced typical seasonality with lower summer volumes. (NASDAQ: GDEN) (“Golden” or the “Company”) today reported financial results for the third quarter ended September 30, 2023.īlake Sartini, Chairman and Chief Executive Officer of Golden, commented, “For our third quarter, we saw improved performance in our Nevada Casino Resorts segment which was primarily driven by increased occupancy and our recent completion of room and pool renovations at The STRAT. LAS VEGAS-( BUSINESS WIRE)-Golden Entertainment, Inc.

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