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Golden Entertainment Presents 2020 First Quarter Results

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– 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.

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“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.

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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

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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.

 

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BetRivers

NetGaming Goes Live in Ontario with Rush Street Interactive via BetRivers Platform

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NetGaming, a fast-growing online casino content supplier, is proud to announce its launch in Ontario with Rush Street Interactive, Inc., a leading online casino and sports betting company in the United States, Canada and Latin America. This strategic collaboration marks a significant milestone for NetGaming as it continues to expand its footprint across regulated North American markets.

As part of the launch, Ontario players on BetRivers can now enjoy a diverse portfolio of NetGaming titles, known for their high-quality graphics, immersive gameplay, and unique themes. Standout games such as Zeus’s Thunderbolt, Bison Gold, and Fireball Inferno are among the first to go live, with additional titles set to follow soon.

This partnership is just the beginning. NetGaming plans to extend its collaboration with Rush Street Interactive into Michigan, New Jersey, Pennsylvania, Delaware, and Mexico over the coming months.

Pallavi Deshmukh, CEO of NetGaming, commented: “We are thrilled to go live with Rush Street Interactive, a powerhouse operator with a strong presence and loyal player base. This launch marks a significant milestone in our
North American expansion strategy and underscores our commitment to delivering exceptional gaming experiences tailored to local player preferences across the region.”

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Richard Schwartz, CEO of Rush Street Interactive, commented: “We are pleased to partner with NetGaming to bring innovative, premium games to our players in Ontario. This collaboration aligns with our strategy to offer world-class
entertainment through engaging, action-packed online casino games. We look forward to expanding this partnership into additional regulated markets in the months ahead.”

This strategic partnership highlights both companies’ dedication to providing high- quality, innovative, and responsible entertainment to players in regulated markets.

The post NetGaming Goes Live in Ontario with Rush Street Interactive via BetRivers Platform appeared first on Gaming and Gambling Industry in the Americas.

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Canada

User-Centric Redesign for Casinosfiables.ca

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Casinosfiables announced that they have redesigned their existing site – https://casinosfiables.ca/ to better address current user demands.

Although the site’s functionality aligns with modern industry standards, the redesign is a step in the right direction and could very well give a competitive edge.

The changes addressed certain functionality concerns and aligned with ever-changing user preferences and behavior.

• Seamless page transition – The overall performance of the site improved, so pages loaded faster, despite the addition of new elements.

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• Integrated social media buttons – Buttons that lead to social media pages became more visible, so it is easier for readers to complete engagement incentives that granted them affiliate-exclusive rewards or promo codes.

• More valuable insights – Previously, charts and ratings were only explained in separate reviews. The new roundup charts and ratings had a dropdown feature that provided more insights or clarity behind the rating.

• Relevant search filters – Some trends or categories that targeted user intent weren’t visible in the previous version. The updated version introduced new categories that better reflected player preferences, or included roundups based on casino features (e.g., cashback, no wager promos, game providers) that weren’t at the forefront previously.

• Author pages – Readers who had similar opinions and game preferences to the site’s authors gained the ability to find other texts from those authors. Each casino expert received a dedicated page listing all of their publications.

The changes were finalized over the past few months. The team pushed these updates in batches rather than a single big update.

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The post User-Centric Redesign for Casinosfiables.ca appeared first on Gaming and Gambling Industry in the Americas.

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BCLC

Vancouver Resident Purchased Winning $40 Million Lotto Max Ticket While Quenching Sparkling Water Craving

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Phuc Duc (Daniel) Chau loves the Bubly brand of sparkling water and stopped in a convenience store to purchase a can. Chau likes to buy lottery tickets based on a gut feeling, and due to the employee’s bubbly nature while he purchased his Bubly, Chau also purchased a Lotto Max ticket for the May 23, 2025 draw.  

It was this ticket that ended up scoring Chau a whopping $40-million jackpot.  

“I was at work when I found out,” recalled Chau of the moment he realized he won. “I was going through my bag to find a cough drop, but I saw that I had two lottery tickets in my bag and decided to scan the tickets, but I needed to update the [BCLC Lotto!] app first. The first ticket I didn’t win anything, but the second said $40 million. I have never seen that many zeroes in my life, ever. I dropped my phone and then called BCLC right away!” 

At the time of the prize claim, the Vancouver resident hadn’t yet shared the news of his win.  

“My partner doesn’t know yet! I want to share the news with them in a special way.”  

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Chau shared that his dream has always been to travel the world. “There are so many places I want to go to, so I haven’t fully decided!” 

When asked if he will quit his job, he said, “I haven’t decided, but I want to continue to support my community in a different way.” 

On how it feels to be a multimillionaire?  

“It means a lot to me. It opens up an opportunity for me to give back to my family, community and the world all around me. It’s not meaningful unless you can share this with those who need it.”  

Chau purchased the winning ticket at the 7-Eleven on Imperial Street and Boundary Road in Burnaby.  

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So far in 2025, B.C. lottery players have redeemed more than $146 million from Lotto Max. Lotto Max is a nationwide lottery game drawn on Tuesdays and Fridays after 7:30 p.m. (PST).  

Players can purchase tickets at lottery retailers or at PlayNow.com. Winning numbers and group release forms can be found online at www.bclc.com. Players can check their lottery tickets anytime, anywhere on iOS and Android devices. 

BCLC offers socially responsible gambling entertainment while generating income to benefit all British Columbians. Players can visit PlayNow.com to learn how to set time and money limits.

The post Vancouver Resident Purchased Winning $40 Million Lotto Max Ticket While Quenching Sparkling Water Craving appeared first on Gaming and Gambling Industry in the Americas.

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