Gambling in the USA
Golden Entertainment Reports 2021 Fourth Quarter Results
Golden Entertainment, Inc. reported financial results for the fourth quarter and full year ended December 31, 2021.
Blake Sartini, Chairman and Chief Executive Officer of Golden Entertainment, commented, “Our strong fourth quarter results concluded a record year for Golden, as we successfully navigated challenges to our operations throughout 2021. The improved performance across our diverse operations drove our total annual revenue to over $1 billion for the first time in history with full year Adjusted EBITDA growing to $292 million, almost 60% higher than full year 2019. For 2022, we are focused on maximizing our operating performance and cash flow which will position the Company to refinance its existing indebtedness and accelerate returning capital to shareholders.”
Consolidated Results
The Company’s 2021 fourth quarter revenues of $282.0 million rose 37% from $205.6 million for the 2020 fourth quarter. Net income for the 2021 fourth quarter was $19.1 million, or $0.59 per fully diluted share, compared to a net loss of $18.5 million, or a loss of $0.66 per share, for the 2020 fourth quarter. Adjusted EBITDA was $67.8 million for the 2021 fourth quarter, a 72% increase from Adjusted EBITDA of $39.4 million for the 2020 fourth quarter. Adjusted EBITDA margin was 24% for the 2021 fourth quarter compared to 19% for the 2020 fourth quarter.
Full year 2021 revenues of $1.1 billion rose 58% from $694.2 million for the 2020 full year. Adjusted EBITDA of $291.7 million for the 2021 full year, represents a 165% increase compared to Adjusted EBITDA of $110.3 million for the 2020 full year. Adjusted EBITDA margin was 27% for the 2021 full year compared to 16% for the 2020 full year.
During the 2021 fourth quarter, the Company updated its segment reporting and now presents results of its operations through four reportable segments:
Nevada Casino Resorts: comprised of The STRAT Hotel, Casino & SkyPod, Aquarius Casino Resort and Edgewater Hotel & Casino Resort, as well as Colorado Belle Hotel & Casino Resort whose operations remain closed.
Nevada Locals Casinos: comprised of Arizona Charlie’s Boulder, Arizona Charlie’s Decatur, Gold Town Casino, Lakeside Casino & RV Park and Pahrump Nugget Hotel Casino.
Maryland Casino Resort: comprised of the Rocky Gap Casino Resort.
Distributed Gaming: comprised of all of the Company’s distributed gaming operations in Nevada and Montana including its branded taverns in Nevada.
Nevada Casino Resorts
Revenues for Nevada Casino Resorts were $104.5 million for the 2021 fourth quarter compared to $64.5 million for the 2020 fourth quarter. Adjusted EBITDA was $36.6 million compared to $14.9 million for the 2020 fourth quarter. Adjusted EBITDA margin was 35% for the 2021 fourth quarter compared to 23% for the 2020 fourth quarter.
Full year 2021 revenues for Nevada Casino Resorts were $389.7 million compared to $250.6 million in 2020. Full year 2021 Adjusted EBITDA was $149.1 million compared to $57.5 million in 2020. Adjusted EBITDA margin was 38% in 2021 compared to 23% in 2020.
Nevada Locals Casinos
Revenues for Nevada Locals Casinos were $39.7 million for the 2021 fourth quarter compared to $33.1 million for the 2020 fourth quarter. Adjusted EBITDA was $18.8 million compared to $14.2 million for the 2020 fourth quarter. Adjusted EBITDA margin was 47% for the 2021 fourth compared to 43% for the 2020 fourth quarter.
Full year 2021 revenues for Nevada Locals Casinos were $159.9 million compared to $113.0 million in 2020. Full year 2021 Adjusted EBITDA was $80.0 million compared to $45.6 million in 2020. Adjusted EBITDA margin was 50% compared to 40% in 2020.
Maryland Casino Resort
Revenues for Maryland Casino Resort were $19.2 million for the 2021 fourth quarter compared to $15.0 million for the 2020 fourth quarter. Adjusted EBITDA was $5.9 million compared to $4.4 million for the 2020 fourth quarter. Adjusted EBITDA margin was 31% for the 2021 fourth quarter compared to 29% for the 2020 fourth quarter.
Full year 2021 revenues for Maryland Casino Resort were $78.2 million compared to $51.6 million in 2020. Full year 2021 Adjusted EBITDA was $26.7 million compared to $15.1 million in 2020. Adjusted EBITDA margin was 34% compared to 29% in 2020.
Distributed Gaming
Revenues for Distributed Gaming were $118.3 million for the 2021 fourth quarter compared to $93.0 million for the 2020 fourth quarter. Adjusted EBITDA was $20.3 million compared to $14.0 million for the 2020 fourth quarter. Adjusted EBITDA margin was 17% for the 2021 fourth quarter compared to 15% for the 2020 fourth quarter.
Full year 2021 revenues for Distributed Gaming were $467.6 million compared to $278.3 million in 2020. Adjusted EBITDA was $87.3 million compared to $27.0 million in 2020. Adjusted EBITDA margin was 19% in 2021 compared to 10% in 2020.
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.
-
Latest News6 days ago
Plaza Hotel & Casino offering free stalls to temporarily rehome horses affected by the California wildfires
-
Affiliate Industry6 days ago
MetaBet inks Gentoo Media partnership to enhance flagship sites
-
Compliance Updates5 days ago
INCENTIVE GAMES RECEIVES FULL PAY-TO-PLAY GAMING CERTIFICATION IN BRAZIL
-
Latest News6 days ago
INSPIRED TO LAUNCH 16 SLOT GAMES IN BRAZIL, IGNITING THE iGAMING MARKET IN JANUARY 2025
-
Compliance Updates5 days ago
FBMDS obtains certification to operate in Brazil
-
Latest News6 days ago
PENN Entertainment Announces Partnership with Monumental Sports & Entertainment for Market Access in Washington, D.C.
-
Latest News7 days ago
Professional Fighters League Teams Up with Cloudbet as Official Sports Betting and Online Casino Partner
-
Latest News7 days ago
MightyTips signs partnership deal with JVSpinBet