Investor Presentaiton
Appendix – Financial Summary
1
(In thousands)
Revenues
Nevada Casino Resorts
(1)
$
Nevada Locals Casinos
(2)
Maryland Casino Resort (3)
Nevada Taverns (4)
Distributed Gaming
Corporate and other
Total Revenues
(5)
2023
Year Ended December 31,
2022
2021
413,058 $
406,950 $
389,712
157,435
157,514
159,855
43,456
78,010
78,155
109,215
109,965
110,170
320,680
365,472
357,414
9,305
3,808
1,237
$
1,053,149 $
1,121,719 $
1,096,543
Adjusted EBITDA
Nevada Casino Resorts (1)
Nevada Locals Casinos (2)
Maryland Casino Resort
Nevada Taverns (4)
$
120,256 $
135,104 $
149,077
73,846
75,848
80,005
(3)
12,652
25,383
26,697
32,682
37,610
39.762
Distributed Gaming
(5)
34,545
44,021
47,514
Corporate and other
(51,459)
(50,886)
(51,337)
Total Adjusted EBITDA
$
222,522 $
267,080 $
291,718
Adjustments
Other non-operating income
Depreciation and amortization
60,000
Non-cash lease expense
(88,933)
15
(100,123)
(165)
(106,692)
(762)
Share-based compensation
(13,476)
(13,433)
(14,401)
Gain (loss) on disposal of assets
228
(934)
(1,260)
Gain on sale of businesses
303,179
Loss on debt extinguishment and modification
(1,734)
(1,590)
(975)
Preopening and related expenses
(6)
(760)
(161)
(246)
Severance expenses
(149)
(378)
(228)
Impairment of assets
(12,072)
Other, net
(11,342)
(3,939)
(2,089)
Interest expense, net
(65,515)
(63,490)
(62,853)
Income tax provision
(76,207)
(521)
(436)
Net income
$
255,756 $
82,346 $
161,776
GOLDEN
ENTERTAINMENT
(1) Comprised of The STRAT Hotel, Casino & Tower, Aquarius Casino Resort and Edgewater Casino Resort. (2) Comprised of Arizona Charlie's Boulder, Arizona Charlie's Decatur, Gold Town Casino, Lakeside Casino & RV Park and
Pahrump Nugget Hotel Casino. (3) Comprised of Rocky Gap Casino Resort (sold 7/25/23). (4) Comprised of the operations of the Company's 69 branded tavern locations. (5) Comprised of distributed gaming operations in Nevada (sold
1/10/24) and Montana (sold 9/13/23). (6) Preopening and related expenses consist of labor, food, utilities, training, initial licensing, rent and organizational costs incurred in connection with the opening of branded tavern and food and
beverage and other venues within the Company's casino locations.
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