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Golden Entertainment

#5985

Rank

$787.51M

Marketcap

US United States

Country

Golden Entertainment
Leadership team

Mr. Blake L. Sartini Sr. (Chairman & CEO)

Mr. Charles H. Protell (Pres, CFO & Treasurer)

Mr. Stephen A. Arcana (Exec. VP & COO)

Products/ Services
Gaming, Internet, Social Media
Number of Employees
1,000 - 20,000
Headquarters
Las Vegas, Nevada, United States
Established
1998
Company Registration
SEC CIK number: 0001071255
Net Income
100M - 500M
Revenue
Above - 1B
Traded as
GDEN
Social Media
Overview
Location
Summary
Golden Entertainment, Inc., together with its subsidiaries, engages in the ownership and operation of a diversified entertainment platform in the United States. The company operates through four segments: Nevada Casino Resorts, Nevada Locals Casinos, Maryland Casino Resort, and Distributed Gaming. The Nevada Casino Resorts segment comprises of destination casino resort properties that include various food and beverage outlets, entertainment venues, and other amenities. The Nevada Locals Casinos segment consists of casino properties that cater to local customers. The Maryland Casino Resort segment operates Rocky Gap casino resort, including various food and beverage outlets, signature golf course, spa, and pool. The Distributed Gaming segment operates slot machines and amusement devices in non-casino locations, such as restaurants, bars, taverns, convenience stores, liquor stores, and grocery stores. As of February 17, 2022, the company operated approximately 16,900 slots, 120 table games, and 6,200 hotel rooms; 10 casinos; and video gaming devices at 1,100 locations, as well as owned 60 traditional taverns. The company was formerly known as Lakes Entertainment, Inc. and changed its name to Golden Entertainment, Inc. in July 2015. Golden Entertainment, Inc. was incorporated in 1998 and is headquartered in Las Vegas, Nevada.
History

Golden Gaming was formed in October 2001 as a result of Blake L. Sartini's acquisition of Southwest Gaming Services, a company he founded before selling to Station Casinos.In 2002, the Golden Tavern Group subsidiary was formed, and it acquired the PT's chain of taverns.In 2004, the company acquired three casinos in Black Hawk, Colorado: the Golden Gates, Golden Gulch, and Golden Mardi Gras.In 2006, Golden Gaming acquired the Pahrump Nugget Hotel & Gambling Hall from Generation 2000.In February 2007, Golden began a two-year deal to operate the casino at the Hard Rock Hotel while its new owner, Morgans Hotel Group, applied for a gaming license. Golden paid $20.7 million a year to lease the casino, and received a $3.3 million monthly management fee, plus a portion of revenue. Golden pulled out of the deal early when Morgans received its gaming license in January 2008, citing a desire to focus on its other operations.Golden Gaming agreed in November 2007 to buy the Saddle West casino in Pahrump from Anthony Marnell III and Sher Gaming, but canceled the deal the following June, deciding instead to focus on the Pahrump Nugget, where it began an $11 million expansion and remodeling.In 2010, Golden Gaming agreed to take over operation of four small casinos owned by The Siegel Group, previously operated by United Coin: the Gold Spike, Siegel Slots and Suites, the Resort on Mount Charleston, and Rumor.

In March 2012, Golden bought from Affinity Gaming the Terrible's Town Casino and Terrible's Lakeside Casino & RV Park in Pahrump and Affinity's slot route operation . The deal made Golden the largest employer and largest gaming operator in Nye County, and the largest slot route operator in Nevada, with about 8,500 machines in 650 locations, making up 45% of the market. Affinity in turn bought Golden's three casinos in Black Hawk, which were valued at a total of $76–92 million.Golden Gaming agreed in January 2015 to merge with Lakes Entertainment. Sartini would own 35% of the company and serve as its chief executive officer. The merger was completed on August 3, 2015, establishing Golden Entertainment.The company expanded into Montana in 2016, purchasing slot routes with 2,800 machines for a total of $45 million. In June 2017, Golden Entertainment was granted a license for slot route operations in Illinois. This marked the fourth state Golden is licensed.In October 2017, Golden Entertainment acquired American Casino & Entertainment Properties for $850 million, which expanded the company's casino portfolio by four: the Stratosphere, Arizona Charlie's Boulder, Arizona Charlie's Decatur and the Aquarius Casino Resort. The following year, the company announced a $140 million renovation of the Stratosphere.In January 2019, the company bought the Colorado Belle and Edgewater casinos in Laughlin, Nevada from Marnell Gaming for $190 million. The acquisition of the Colorado Belle and Edgewater gives the company dominance in the market with three of 11 Laughlin properties, including the Aquarius.

Mission
We create authentic entertainment experiences where premium service is delivered without pretense, and at an exceptional value. This makes the average, everyday working person feel that they belong, and that our place "is their place."
Vision
Our vision is to be the leading provider of gaming and entertainment experiences in the communities where we operate. We will strive for perpetual growth in our core markets and continuously seek new opportunities to maintain our leadership position and expand our markets.
Key Team

Mr. Thomas Edwin Haas (Sr. VP & Chief Accounting Officer)

Mr. Blake L. Sartini II (Exec. VP of Operations)

Ms. Phyllis A. Gilland (Gen. Counsel & Corp. Sec.)

Mr. Terry Contreras (Chief Financial Officer of Red Hawk Casino)

Recognition and Awards
Golden Entertainment has earned multiple awards, including “Top Gaming Operator of the Year” from the Nevada Hotel and Lodging Association, “Employer of the Year” from the Nevada State Chamber of Commerce, and “Outstanding Achievement in Innovation” from the Southern Nevada Hotel and Lodging Association.
References

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Golden Entertainment
Leadership team

Mr. Blake L. Sartini Sr. (Chairman & CEO)

Mr. Charles H. Protell (Pres, CFO & Treasurer)

Mr. Stephen A. Arcana (Exec. VP & COO)

Products/ Services
Gaming, Internet, Social Media
Number of Employees
1,000 - 20,000
Headquarters
Las Vegas, Nevada, United States
Established
1998
Company Registration
SEC CIK number: 0001071255
Net Income
100M - 500M
Revenue
Above - 1B
Traded as
GDEN
Social Media