Las Vegas-based Golden Entertainment will see continued improvement in 2025, including Strat Casino Hotel, which comes from what the company called a “transformative year” in 2024.
During its results at the end of the year, Golden, who operates eight Nevada casinos and 72 Gaming Tavern’s, reported annual revenue of $ 667 million in 2024, a decline from year to year from almost 37 percent from 2023’s $ 1.05 billion. During the last three months of 2024, the company reported $ 164.2 million in revenue, a decrease of 29 percent from the fourth quarter of 2023, according to public financial applications.
The completed sale of Golden’s previously distributed gaming operations at the beginning of the year in combination with other non-core transfers generated almost $ 600 million in revenue for the company, says managers. Continued growth in the company’s tavern operations in combination with a generally positive view for Nevada’s economy had managers who expressed optimism on Thursday.
“The performance of our fourth quarter improved in succession during the third quarter and we expect that the business conditions will continue to improve in 2025,” says Blake Sartini, chairman and CEO of Golden. “For 2025, we remain focused on investing in our own assets, returning capital to shareholders and striving for potential strategic opportunities.”
Strat’s Weekend coating rate of 95 percent during the fourth quarter was flat compared to 2023. The middle of the week was decreased by 6 percent from year to year, giving the total coating to 75 percent for the quarter for the company’s Nevada Casino Resorts, which includes properties in Pahrump and Laughlin.
Golden’s Arizona Charlie’s brand generated $ 38.7 million in revenue during the fourth quarter last year, an increase of 1 percent year to year. For the year, the brand generated $ 151 million in revenue, from 2023’s $ 157.4 million.
Gaming Taverns under Golden’s umbrella include PT, Sierra Gold and Lucky’s. By 2024, Gaming Tavern’s $ 109.7 million, up from $ 109.2 million the year before.
Charles Protell, President and CFO for Golden, noted that the Nevada Casino Resort segment and the Las Vegas Citywide coating were weaker in October and November, but December and January showed strength and opportunities for growth in 2025.
“Our wholly owned casino and marked Tavern portfolio is well positioned to take advantage of the favorable long-term economic trends in Nevada, which remain some of the most favorable in the country,” he said. “Nevada continues to be one of the fastest growing states in terms of population, employment and discretionary income, which is expected to continue well into the future.
Contact David Danzis at ddanzis@ theplayerlounge.com or 702-383-0378. Follow @AC2vegas-danzis.bsky.social or @AC2vegas_danzis on X.
