Golden Entertainment reported a 3.1 million quarterly loss for the three months ending September 30, 2018. In the same period last year, they had recorded approximately 8.5 million in profit.
Golden Entertainment acquired the Stratosphere, two Arizona Charlie’s properties, and the Aquarius Casino Resort in Laughlin in 2017 for $850 million. They have announced plans to buy the Edgewater and the Colorado Belle located in Laughlin for an estimated $190 million, in early 2019. The company also operates Casinos, PT's Pub local taverns, and a network of slot machines in bars, stores, etc.
Blake L. Sartini, Chairman and CEO of Golden Entertainment, commented, “Despite strong performance from our Laughlin and Las Vegas Locals properties, we experienced a challenging third quarter primarily due to weaker than expected results at the Stratosphere and at chain store locations in our Nevada distributed gaming business. We remain confident in the Company’s long-term prospects given the overall health of the Las Vegas economy, the expected benefits from our investments in the Stratosphere, anticipated near-term improvements with our Nevada distributed business and our pending acquisition of two additional casino resorts in Laughlin.”
11/8/2018 See the news release
Golden Entertainment Reports 2018 Third Quarter Results
at https://goldenent.com/new-releases.html
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