Gambling in the USA
Golden Entertainment Announces Q2 2021 Results
Las Vegas-based gaming company Golden Entertainment has announced its financial results for the second quarter of 2021.
Blake Sartini, Chairman and CEO of Golden Entertainment, said: “Our second quarter operating results demonstrated improvement over our first quarter, as we generated record quarterly levels of revenue, net income and Adjusted EBITDA. These results highlight strong levels of visitation and spend at all of our properties, including The STRAT, combined with the margin improvement we have sustained over the last twelve months.
“During the quarter, we deployed cash generated from operations to repay over $50 million of outstanding debt obligations including $47 million of our term loan. After the quarter ended, we received a $60 million cash payment from Caesars Entertainment, Inc. (Caesars) related to their acquisition of William Hill and have the potential to receive up to an additional $15 million payment from Caesars depending on the sale value for William Hill’s UK business. We appreciate our longstanding relationship with William Hill and look forward to their continued operation of the sportsbooks in our Nevada casinos. After receiving the payment from Caesars, our pro forma LTM net leverage ratio is 3.8x and we expect to continue to reduce our leverage through the end of the year which will provide additional strategic flexibility and position us to return capital to our shareholders.”
Consolidated Results
The Company reported revenue of $292.5 million in the second quarter of 2021 compared to $76.0 million in Q2 2020. Net income for Q2 2021 was $103.0 million, or $3.26 per fully diluted share, compared to a net loss of $78.6 million, or a loss of $2.80 per share, in Q2 2020. Net income for Q2 2021 includes $60.0 million, or $0.53 per fully diluted share, in other non-operating income recognized from the Caesars payment received after quarter end. Adjusted EBITDA was $91.0 million for Q2 2021 compared to Adjusted EBITDA of ($5.5) million in Q2 2020.
Casinos
Casino revenues were $170.8 million for Q2 2021 compared to $39.4 million in Q2 2020. Casino Adjusted EBITDA was $78.5 million compared to $1.9 million in Q2 2020. Total Casino Adjusted EBITDA margin was 46% for the second quarter of 2021.
Distributed Gaming
Distributed Gaming revenues for the second quarter of 2021 were $121.4 million compared to $36.3 million in Q2 2020. Distributed Gaming Adjusted EBITDA was $24.9 million compared to $0.9 million in Q2 2020. Total Distributed Gaming Adjusted EBITDA margin was 21% for the second quarter of 2021.
Compliance Updates
Arizona Department of Gaming Releases October Sports Betting Figures
Bettors in Arizona wagered approximately $791 million on sports in October of 2024, according to a new report by the Arizona Department of Gaming. This represents an approximate 22% increase when compared to October of 2023.
The state collected approximately $2.35 million in privilege fees in the month.
Gambling in the USA
Neosurf & Betting Hero to reveal results of their in-depth study into US online gambling and payment habits in exclusive two-part webinar series
Neosurf, the globally trusted provider of swift and secure cash-to-digital payment solutions, has announced it will be sharing the findings of a recent study into the online betting habits, preferences and frustrations of US players in an exclusive two-part webinar series beginning on January 14th.
Neosurf commissioned the research via Betting Hero – a leading US-based iGaming portal with expertise in casino, sports betting and DFS. The webinars will see Neosurf CEO Americas, Sue Page, Betting Hero’s Co-Founder and President, Jai Maw, and Senior Director of Product and Research, Ernie Ropas, dive into the report’s key findings and discuss what some of the more surprising results could mean for operators.
The survey, which featured respondents from New Jersey, Colorado and North Carolina, aimed to help operators and regulators within the gambling industry better understand the typical US bettor – how and why they bet, what tools they use to manage their budget and what Responsible Gaming means to them. The findings will be revealed in the webinars and used to identify areas where Neosurf’s products can help operators provide a better user experience.
The research highlighted several aspects of payments and responsible gaming that bettors felt could be improved. Problems with payments remain an issue – 52% of respondents said that they’d experienced payment issues in the past year, and with over 50% depositing and withdrawing multiple times each month, there is a significant cost impact to the operators.
Additionally, respondents indicated they’d be in favour of using a service that could share pre-verified ID information with operators, with ease of use for new payment methods and seamless integration across multiple platforms identified as important factors in their choosing and remaining loyal to a single sports betting platform.
Sue Page, Neosurf CEO Americas, said: “It was important to us to gain a more detailed insight into the US sports bettor. We wanted to talk to the players and ask questions that no one else is asking, and through our collaboration with Betting Hero I’m delighted that we now have a comprehensive piece of research.
“Offering valuable insights into player habits – how and why they bet, the ongoing pain points they’re experiencing with payments and their thoughts on Responsible Gaming—we’ll be taking a deep dive into the results of the survey in our two-part webinar series starting at 10:00 ET on January 14th, and we encourage all US-focused operators and regulators to join us.”
Gambling in the USA
Saracen Casino Resort Chooses QCI Chatalytics to Enhance Casino Operations with Integrated AI Solutions
Saracen Casino Resort has selected Quick Custom Intelligence’s (QCI) Chatalytics, an integrated AI-driven suite, to revolutionize its casino operations and elevate guest experiences. The QCI Chatalytics solution, which includes Slot Copilot, Player Copilot, Dashboard, and the Robot Button, leverages OpenAI integration to provide real-time insights and streamlined decision-making across the casino floor.
QCI Chatalytics offers a powerful blend of AI-powered tools designed to optimize both player and slot management. With Slot Copilot, operators gain enhanced capabilities for real-time slot performance monitoring, predictive analytics, and dynamic task assignment. Player Copilot delivers personalized player engagement by analyzing customer data to inform service decisions and reward recommendations. The Dashboard component offers an intuitive, real-time display of key metrics, enabling data-driven insights at a glance. Additionally, the innovative Robot Button automates routine processes, allowing staff to focus on higher-value tasks and improve overall efficiency.
Clayton Mason, Senior Director of Marketing of Saracen Casino Resort, expressed enthusiasm about the partnership: “Integrating QCI Chatalytics into our operations marks a significant step in our strategy to harness the power of AI. With advanced tools like the Robot button, Slot Copilot and Player Copilot, we can deliver a more tailored and efficient experience for our guests while gaining deeper insights into our gaming operations.”
Dr. Ralph Thomas, CEO of QCI, shared his vision for the collaboration: “We’re excited to bring the capabilities of QCI Chatalytics to Saracen Casino Resort. By integrating OpenAI technology, our solution provides unprecedented levels of automation and insight. We believe Chatalytics will play a crucial role in optimizing floor operations and enhancing guest satisfaction through real-time, data-driven decision-making.”
The QCI Chatalytics platform is part of Quick Custom Intelligence’s commitment to driving innovation in the gaming industry, offering a comprehensive suite of solutions to streamline operations and enhance the player experience.
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