Golden Entertainment(US:GDEN)2022-02-17 21:33Company Overview - Golden Entertainment operates a diversified gaming platform with 10 casino resorts and distributed gaming across multiple states[6,7] - The company is well-positioned to benefit from Nevada's economic recovery and long-term trends[6,9] - Golden Entertainment has a experienced management team aligned with shareholders[6] Financial Performance - The company reported YTD 2021 revenue of $1095 million[8] - YTD 2021 Adjusted EBITDA was $343 million, excluding $514 million in corporate expenses[8] - The company has demonstrated margin improvement, with total company margin increasing from 19% in FY 2019 to 27%[18] - The company is generating significant free cash flow, driven by Adjusted EBITDA growth[20] Assets and Operations - The STRAT renovation project was completed with an investment of approximately $110 million, with a current run rate ROI over 15%[12] - The company operates over 11,800 slots in distributed gaming locations, holding a 44% market share in Nevada and 26% in Montana[16] - Golden Entertainment's loyalty program, True Rewards, combines over 45 million player database across casino properties and distributed locations[17]