Golden Entertainment(GDEN) - 2024 Q4 - Annual Results

Revenue Performance - Fourth quarter 2024 revenues were $164.2 million, down 28.8% from $230.7 million in Q4 2023[3] - Full year 2024 revenues totaled $666.8 million, a decrease of 36.5% from $1.1 billion in 2023[4] - Total revenues for the three months ended December 31, 2024, were $164.204 million, a decrease of 28.8% compared to $230.691 million in the same period of 2023[18] - Total revenues for the year ended December 31, 2024, were $666.818 million, a decrease of 36.6% from $1,053.149 million in 2023[18] - Revenues from Nevada Casino Resorts decreased to $97.487 million in Q4 2024, down 7.5% from $104.796 million in Q4 2023[18] - Revenues from Nevada Locals Casinos increased slightly to $38.710 million in Q4 2024, compared to $38.467 million in Q4 2023, reflecting a growth of 0.6%[18] - Corporate and Other segment reported revenues of $285,000 in Q4 2024, down from $342,000 in Q4 2023[18] - Distributed Gaming operations generated $6.019 million in revenues for the year ended December 31, 2024, a decrease from $320.680 million in 2023[18] Net Income and Earnings - Net income for Q4 2024 was $3.0 million, or $0.10 per diluted share, compared to a net loss of $9.4 million, or a loss of $0.33 per share in Q4 2023[3] - Full year 2024 net income was $50.7 million, or $1.71 per diluted share, down from $255.8 million, or $8.31 per diluted share in 2023[4] - Net income for the year ended December 31, 2024, was $50.731 million, a significant decrease from $255.756 million in 2023[18] Adjusted EBITDA - Adjusted EBITDA for Q4 2024 was $39.2 million, compared to $48.8 million in Q4 2023, reflecting a decline of 19.5%[3] - Full year 2024 Adjusted EBITDA was $155.4 million, down 30.1% from $222.5 million in 2023[4] - Adjusted EBITDA for the three months ended December 31, 2024, was $39.177 million, down 19.4% from $48.760 million in the prior year[18] - Adjusted EBITDA for the year ended December 31, 2024, was $155.375 million, down 30.1% from $222.522 million in 2023[18] Share Repurchase and Dividends - The company repurchased 1.1 million shares in Q4 2024 at an average price of $32.65, totaling $36.2 million[2] - The board authorized a quarterly cash dividend of $0.25 per share, payable on April 2, 2025[1] Debt and Cash Position - As of December 31, 2024, total debt outstanding was $417.6 million, with $394 million in term loan borrowings[5] - The company had cash and cash equivalents of $57.7 million and $220 million available on its revolving credit facility as of December 31, 2024[6] Other Financial Metrics - The company reported a loss on debt extinguishment and modification of $4.446 million for the year ended December 31, 2024[18]