Gambling in the USA
Golden Entertainment Reports 2020 First Quarter Results
– Q1 Results Negatively Impacted by Mandated Closure of All Operations in March
– Cash Outlays Significantly Reduced to Preserve Liquidity
– Revolver Fully Drawn in March to Create Over $300 million Cash Position
– Montana Distributed Gaming Operations Reopened May 4th Statewide
Golden Entertainment, Inc. reported financial results for the first quarter ended March 31, 2020.
Blake Sartini, Chairman and Chief Executive Officer of Golden Entertainment, commented, “The COVID-19 pandemic forced the mandated closure of all our operations beginning in mid-March, and continues to have an unprecedented impact on our business and the gaming and entertainment industry in general. This is reflected in our first quarter financial results, notwithstanding our significant year-over-year growth through February prior to the suspension of our operations. Since the closures, we have focused on supporting our team members, staying connected to our customers, and working to establish appropriate sanitation protocols to offer a safe environment when we are allowed to reopen.
“In order to preserve the Company’s liquidity and position ourselves to withstand the ongoing interruption to our operations, we reduced our cash operating expenses, deferred all capital expenditures and drew down our $200 million availability under our revolving credit facility. The actions that we have taken since the closure of our operations have positioned Golden Entertainment to withstand the current disruption in our business for the foreseeable future.
“Over the last several years we have executed on a strategic plan to put the Company on a path for long-term growth. This plan included capital investment to renovate and reposition The STRAT, accretive acquisitions that have grown our market share in Laughlin, pursuing new distributed gaming markets, and the introduction of our True Rewards one-card loyalty program. Our current cash position, capital structure with no near-term debt maturities, and diverse operations of wholly-owned casinos and distributed gaming operations across multiple jurisdictions will position Golden Entertainment favorably to achieve long-term success as we are allowed to reopen our properties.
“Finally, I want to extend my deepest sympathies to those whose health or livelihood has been directly affected by COVID-19, as well as acknowledge our great appreciation for all the healthcare providers, first responders and other essential workers whose efforts are keeping our communities safe and healthy.”
Consolidated Results
The Company reported 2020 first quarter revenues of $207.2 million compared to $239.9 million in the first quarter of 2019. Net loss for the first quarter of 2020 was $32.6 million, or a loss of $1.17 per share, compared to a net loss of $8.0 million, or $0.29 per share, in the first quarter of 2019. Adjusted EBITDA was $30.3 million for the first quarter of 2020 compared to $48.4 million for the first quarter of 2019.
Casinos
Casino revenues were $128.0 million in the first quarter of 2020 compared to $151.4 million in the first quarter of 2019. Casino Adjusted EBITDA was $31.8 million compared to $46.6 million in the first quarter of 2019.
Distributed Gaming
Distributed Gaming revenues for the first quarter of 2020 were $79.0 million compared to $88.4 million in the first quarter of 2019. Distributed Gaming Adjusted EBITDA was $7.1 million compared to $13.5 million in the first quarter of 2019.
Balance Sheet Highlights
As of March 31, 2020, the Company had cash and cash equivalents of approximately $302 million, including $200 million drawn from the Company’s revolving credit facility on March 16, 2020. Total debt on March 31 was $1.36 billion including the revolver draw.
Capital Expenditures
Capital expenditures in the first quarter of 2020 totaled $18.5 million, including payments of approximately $12 million related to renovations at The STRAT that were completed in December 2019. The total cost of renovations for The STRAT since June 2018 totals approximately $101 million.
Gambling in the USA
TCSJOHNHUXLEY to Sponsor Inaugural G2E Dealer Championship
G2E Las Vegas 2025 is set to host the first-ever US Dealer Championship, and TCSJOHNHUXLEY is delighted to announce its sponsorship of this landmark event. The championship, which celebrates the skill and professionalism of casino dealers, will take place at The Venetian Expo from October 7-9, 2025.
The G2E Dealer Championship will bring together the nation’s top casino dealers to compete for the title of “Best Dealer.” Contestants will be judged on their technical precision, game knowledge, and ability to provide a superior player experience.
As a proud sponsor TCSJOHNHUXLEY will be supplying all the Roulette tables for the competition, ensuring the highest standard of equipment for the championship. This not only highlights the company’s commitment to the dealers but also provides the perfect platform to showcase its renowned manufacturing expertise. TCSJOHNHUXLEY’s world-class Roulette tables are testament to the precision engineering and superior craftsmanship that has set the industry standard for decades.
Phil Lee, TCSJOHNHUXLEY Chief Financial Officer & Managing Director Americas comments, “We are delighted to be a part of the first G2E Dealer Championship, an event that truly celebrates the invaluable role of casino dealers. Dealers are the heart of the live gaming experience, and we are committed to supporting their success. Our outstanding Roulette tables will provide the perfect platform for these talented professionals to showcase their artistry and skill.”
The G2E Dealer Championship will take place at Booth #5225, located in The Strip at G2E.
The sponsorship underscores TCSJOHNHUXLEY’s unwavering commitment to the live gaming sector and the professionals who drive its success. The company invites all attendees to witness the championship and visit its stand at Booth #4439 during the expo to see its full range of innovative solutions.
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Gambling in the USA
Kindbridge Research Institute Launches “Stigma Stand Down” for Military Mental Health
Kindbridge Research Institute (KRI), a national leader in behavioral addiction research, announced the launch of Stigma Stand Down (SSD), a Colorado statewide initiative dedicated to confronting stigma, breaking down barriers, and fostering resilience among active-duty service members, veterans, and their families impacted by mental health and gambling-related challenges.
Inspired by military “safety stand-downs,” SSD addresses the hidden burdens carried by those who serve, where stigma often prevents seeking help for mental health issues, including gambling disorder – a condition up to 3.5 times more prevalent in military populations than civilians. With over 60,000 active-duty, guard, and reserve personnel in Colorado, as well as the rapid growth of legalized sports betting since 2018, SSD arrives at a critical time to normalize conversations around mental health, PTSD, depression, substance use, and gambling-related harms.
“Stigma is a silent enemy that leaves our service members and veterans isolated, harming their families, units, and mission readiness. Stigma Stand Down is our frontline response: dismantling shame and delivering free, confidential, evidence-based care designed for military realities. We thank our partners for standing with us and call on more allies to help transform lives and build stronger communities,” said Mark Lucia, Director of Programming at Kindbridge Research Institute.
Key elements of Stigma Stand Down include:
• Education and Resources: Practical, no-jargon webinars, videos, and courses on gambling disorder, mental health, financial literacy, and stigma reduction, accessible via a dedicated, mobile-friendly website for leaders, families, and providers.
• Free Mental Health Support: Through a partnership with Kindbridge Behavioral Health – a specialized national telehealth provider for gaming, gambling, and mental health issues – military members and their families can access free, confidential virtual therapy sessions.
• Statewide Outreach: Multimedia campaigns, on-base distributions, geographically targeted ads, and veteran-led stories to reach rural and underserved areas, fostering a culture where seeking help is seen as strength.
• Self-Assessment Tools: An anonymous Gambling Self-Check (BBGS) screener providing immediate, personalized feedback to encourage early intervention.
SSD builds on insights from KRI’s 50×4 Vets initiative and partnerships with organizations including the University of Nevada Las Vegas, University of New Mexico, Cactus Advertising Agency, and Kindbridge Behavioral Health. This program was made possible through grants provided by the Colorado Division of Gaming and FanDuel.
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Gambling in the USA
GAMING INDUSTRY’S TOP CEOs BILL HORNBUCKLE, PETER JACKSON & JASON ROBINS TO KEYNOTE G2E 2025
Main Stage Also Features Tribal Innovation Discussion Oct. 6; Global Gaming Women to Present Mental Health Dialogue Oct. 8
The Global Gaming Expo, presented by the American Gaming Association (AGA) and organized by RX, announces its highly anticipated main stage programming for G2E 2025. Over three days, G2E will feature conversations with some of the most influential voices in gaming and offer diverse perspectives on the future of the industry. G2E 2025 takes place Oct. 6-9 at The Venetian Expo in Las Vegas and marks the event’s 25th year.
“We are honored to welcome a distinguished lineup of key industry leaders to the G2E main stage,” said AGA President and CEO Bill Miller. “As we mark 25 years of G2E, we’re proud to continue to be a catalyst for gaming’s growth, and our programming reflects the ideas and leadership shaping the industry’s future.”
Progress or Pressure: How Tribes Can Harness Innovation on Their Terms
Monday, Oct. 6 at 4 p.m. Doors open at 3:30 p.m.
Indian Gaming Association (IGA) Chairman Ernie Stevens Jr. will open the main stage by underscoring the central contributions of tribal operators to the U.S. gaming landscape and the challenges and opportunities that lie ahead.
Bringing together leading tribal voices, the program will explore how tribes embrace innovation on their own terms—balancing growth with sovereignty and long-term success. Panelists will address how emerging technologies, evolving business models, and the rise of illegal, unregulated markets are reshaping the competitive environment. The dialogue will highlight both the opportunities to harness new tools for sustainable growth and the pressures of protecting the industry’s integrity in a rapidly changing landscape.
Moderated by IGA’s Executive Director Jason Giles, the conversation will feature:
- Rodney Butler, Chairman, Mashantucket Pequot Tribal Nation
- James Siva, Chairman, California Nations Indian Gaming Association
Additional participants may be announced in the coming days.
Inside the C-Suite: Gaming’s Future in Focus on Stage
Tuesday, Oct. 7 at 8:45 a.m. Doors open at 8:15 a.m.
AGA President and CEO Bill Miller will open G2E 2025’s keynote session, welcoming global gaming professionals and underscoring the strength and momentum of legal gaming upon the opening of the industry’s biggest gathering of the year.
Following Miller’s remarks, Hope King, founder of Macro Talk, on-air contributor to Yahoo Finance, and events host and moderator for Axios, will lead an impactful series of one-on-one conversations with top global gaming CEOs. Discussions will address key trends and challenges shaping the industry—including investor expectations, domestic and international expansion, and intensifying competition in regulated and unregulated markets. Featuring:
- Bill Hornbuckle – CEO & President, MGM Resorts International
- Peter Jackson – CEO, Flutter Entertainment
- Jason Robins – CEO, DraftKings
The session will conclude at 10 a.m., immediately followed by the opening of the expo floor.
Breaking the Stigma: An Honest Dialogue on Mental Health
Wednesday, Oct. 8 at 9 a.m. Doors open at 8:45 a.m.
Multi-sport athlete and mental health advocate Kendall Toole will share her personal journey in a conversation moderated by Global Gaming Women (GGW) Sip & Social Chair Meghan Speranzo. Presented by GGW, the session will foster an open dialogue on mental health, designed to reframe how attendees think about wellness and inspire stronger voices across the gaming industry and beyond. This conversation will be open to all badge holders. Ahead of the discussion, GGW will host their Sip & Social event from 8 a.m. – 8:45 a.m. in the same room. For more information on this separate networking event, visit globalgamingwomen.org/event-6325670.
Presented by the AGA and organized by RX, G2E’s full education lineup features more than 100 sessions. G2E 2025 runs from October 6-9 (Education: October 6-9 | Expo Hall: October 7-9) at The Venetian Expo in Las Vegas.
Since 2001, G2E has served as the premier global event for the legal, regulated gaming industry, fostering innovation and driving growth across casinos, hospitality, technology, iGaming, sports betting, and more. The event will welcome over 25,000 industry professionals from more than 120 countries, regions, and territories, and nearly 400 exhibitors showcasing the latest global gaming technologies.
For more information, visit globalgamingexpo.com.
The post GAMING INDUSTRY’S TOP CEOs BILL HORNBUCKLE, PETER JACKSON & JASON ROBINS TO KEYNOTE G2E 2025 appeared first on Gaming and Gambling Industry in the Americas.
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