Golden Entertainment
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Golden Entertainment (GDEN) investor relations material

Golden Entertainment Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 earnings summary27 Feb, 2026

Executive summary

  • Fourth quarter 2025 revenues were $155.6 million, down from $164.2 million in Q4 2024, with a net loss of $8.5 million versus net income of $3.0 million in the prior year period.

  • Full year 2025 revenues totaled $634.9 million, a decrease from $666.8 million in 2024, with a net loss of $6.0 million compared to net income of $50.7 million in 2024.

  • Adjusted EBITDA for Q4 2025 was $33.5 million, down from $39.2 million in Q4 2024; full year Adjusted EBITDA was $140.0 million, down from $155.4 million in 2024.

  • Net loss for 2025 included a $10.2 million loss on disposal of assets.

  • Pending sale of operating assets and casino real estate, after which the company will become private and delist its stock.

Financial highlights

  • Gaming revenue for Q4 2025 was $80.1 million, food and beverage $40.0 million, rooms $23.1 million, and other $12.5 million.

  • Full year 2025 gaming revenue was $316.1 million, food and beverage $162.9 million, rooms $105.1 million, and other $50.7 million.

  • Operating loss for Q4 2025 was $2.3 million, compared to operating income of $11.7 million in Q4 2024.

  • Net loss per share for Q4 2025 was $(0.33), and for the full year $(0.23).

Outlook and guidance

  • No earnings call will be held due to the pending transaction to sell operating assets and transition to a private entity.

  • Forward-looking statements caution about risks related to the proposed transaction, regulatory approvals, and market conditions.

Key risks to Proposed Transaction closing?
How is debt and liquidity managed pre-transaction?
What factors contributed to the 2025 net loss?
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Frequently asked questions

Golden Entertainment, Inc. is a diversified hospitality and gaming company operating casinos, distributed gaming, and entertainment venues. The company owns and manages properties that include hotel-casinos, taverns, and gaming resorts, primarily located in Nevada and Maryland. In addition to its traditional casino operations, Golden Entertainment operates distributed gaming systems, offering slot machines and other gaming devices in non-casino locations such as bars and grocery stores. The company is headquartered in Las Vegas, Nevada, and its shares are listed on the NASDAQ.

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