Gambling in the USA

Golden Entertainment Reports 2020 First Quarter Results

Published

6 years ago

May 12, 2020

Reading Time: 3 minutes

– 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 4^th 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.

AI in lottery

Scientific Games Appoints Rich Wasserman as Senior Vice President of Product Engineering

Published

4 hours ago

February 24, 2026

Wladimir P.

scientific-games-appoints-rich-wasserman-as-senior-vice-president-of-product-engineering

Scientific Games has appointed Rich Wasserman as Senior Vice President of Product Engineering, reinforcing its commitment to advancing lottery systems technology and digital innovation.

Based in Atlanta, the global lottery provider continues to expand its technology leadership as one of the fastest-growing suppliers of retail and digital lottery solutions worldwide.

Leadership Experience from Amazon, Facebook and Stitch Fix

Wasserman brings more than 20 years of experience leading engineering, data science and product teams across high-performance technology platforms.

He previously held senior leadership roles at:

Amazon
Facebook
Stitch Fix

At Stitch Fix, he served as Vice President of Engineering and Data Science, leading automation, AI-driven systems and platform optimization initiatives. Wasserman holds a Ph.D. in Electrical Engineering and a Computer Science degree from the University at Buffalo.

Driving Innovation Across Global Lottery Platforms

In his new role, Wasserman will oversee Product Engineering across Scientific Games’ global portfolio serving more than 150 government-regulated lotteries. His responsibilities include advancing:

Retail lottery systems
Digital lottery platforms
Hardware and software innovation
Data analytics and AI capabilities
Consumer engagement technologies

CEO Pat McHugh stated that Wasserman’s experience scaling AI-powered platforms at world-class technology firms will help accelerate innovation and deliver next-generation lottery solutions focused on sustainable growth.

Strengthening Lottery Technology Leadership

Scientific Games continues to invest in technology, analytics and digital transformation to enhance consumer experiences across retail and online lottery channels. The appointment underscores the company’s strategy to integrate advanced analytics and machine learning into its global lottery ecosystem.

The post Scientific Games Appoints Rich Wasserman as Senior Vice President of Product Engineering appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Gambling in the USA

Scientific Games Appoints Rich Wasserman as Senior Vice President of Product Engineering

Published

4 hours ago

February 24, 2026

GamingAmericas.com

Former Amazon, Facebook and Stitch Fix Exec to Lead Product Engineering for Global Lottery Provider

Scientific Games has named Rich Wasserman as Senior Vice President of Product Engineering. Wasserman brings more than 20 years of experience leading global engineering, data science and product organizations across complex, high-performance technology platforms.

As the industry’s fastest-growing lottery systems technology provider, Scientific Games continues to invest in technology and talent to deliver seamless consumer experiences across lottery retail and digital channels.

Wasserman previously held senior leadership roles at Amazon and Facebook, where he led large-scale systems powered by advanced analytics and machine learning. Most recently, he served as Vice President of Engineering and Data Science at Stitch Fix, leading integrated teams focused on automation and platform optimization. Wasserman holds a Ph.D. in Electrical Engineering and a degree in Computer Science from the University at Buffalo.

In his new role, Wasserman will lead Product Engineering across Scientific Games’ global product portfolio serving government-regulated lotteries, advancing hardware and software platforms to accelerate innovation, expand analytics capabilities and consumer-engagement to deliver long-term value for lottery customers worldwide.

“We’re excited to add Rich’s deep technical expertise scaling innovative, AI-driven platforms at world-class organizations to further strengthen Scientific Games’ technology leadership,” said Pat McHugh, Chief Executive Officer of Scientific Games. “As we continue investing in innovation and analytics across retail and digital lottery solutions, his experience and leadership will help us deliver the next generation of high-performance products that drive sustainable growth for our lottery customers worldwide.”

Scientific Games serves more than 150 lotteries globally with a comprehensive portfolio of retail systems, digital platforms, instant games and analytics solutions.

The post Scientific Games Appoints Rich Wasserman as Senior Vice President of Product Engineering appeared first on Americas iGaming & Sports Betting News.

Gambling in the USA

S Gaming ignites US expansion with Fanatics Casino partnership

Published

2 weeks ago

February 12, 2026

Wladimir P.

s-gaming-ignites-us-expansion-with-fanatics-casino-partnership

S Gaming, the fast-growing developer of highly entertaining online slots and casino games, has taken another major step in its US expansion strategy by securing a partnership with leading operator Fanatics Casino.

As part of the agreement, Fanatics Casino will exclusively roll out S Gaming’s standout title, Triple 7 Jackpot, across regulated iGaming markets including New Jersey, Pennsylvania, West Virginia, and Michigan.

What Makes Triple 7 Jackpot Stand Out?

Triple 7 Jackpot delivers a classic slot experience infused with vibrant neon energy. At the heart of the game is its signature Triple 7 feature, which remains visible on-screen throughout gameplay. Players can unlock this feature by landing three Bonus 7 symbols in a single spin.

Once activated, the feature awards one bonus spin and a chance to land the impressive 500x Jackpot prize, adding significant win potential to the experience.

In addition, players can trigger Free Spins by landing three Scatter symbols during the base game, awarding seven Free Games and further opportunities to boost winnings.

Strengthening a Growing US Presence

The partnership with Fanatics Casino marks another milestone in S Gaming’s ambitious US growth strategy. The studio’s focus on sustainable entertainment and accessible, casual gameplay is already resonating with American players.

Charles Mott, CEO and Co-Founder of S Gaming, highlighted the importance of the deal:

“Fanatics Casino needs no introduction and is one of the powerhouse brands in the regulated US market. We’re thrilled to see Triple 7 Jackpot added to its casino lobby and to bring the game to players in New Jersey, Pennsylvania, West Virginia, and Michigan for the first time.”

Mott also noted that the company now works with two major US operators—Fanatics and BetMGM—with additional partnerships expected in the coming months.

Enhancing the Fanatics Casino Portfolio

Fanatics Casino views the collaboration as part of its ongoing strategy to elevate its game offering.

Kieron Shaw, Senior Manager at Fanatics Casino, commented:

“We’re committed to expanding our portfolio to enhance the player experience, which is why we continue to partner with innovative studios like S Gaming. Their focus on fun, combined with strong win potential, brings something fresh and exciting to our platform.”

With this latest launch, S Gaming continues to cement its position in the competitive US iGaming landscape, leveraging premium partnerships to deliver engaging slot experiences to players nationwide.

The post S Gaming ignites US expansion with Fanatics Casino partnership appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.