GDEN’s portfolio is currently benefiting from multiple post-COVID factors, including the return of the core older demographic to its local casinos. ~80 percent-plus of GDEN EBITDA is generated in NV (mostly local play), one of the fastest-growing populations, underpinned by migration from California,\u201d said Bain.<\/span><\/p>\nMore Positives for Golden Investors<\/h2>\n
Golden’s route business operates in Montana and Nevada, with Illinois and Pennsylvania possible near-term additions. Should be Pennsylvania join that fold, it could be a major catalyst for Golden stock.<\/p>\n
\u201cGDEN has already partnered with multiple locations, should Pennsylvania routes be approved. We calculate every 1,000 locations serviced by GDEN equate to $7.35 per share,\u201d said Bain. \u201cPennsylvania’s longer-term market could host ~30,000 locations, and GDEN could service ~25% of the market, in our view.\u201d<\/p>\n
The gaming company also owns 17 acres of unused Strip land, which Bain says is worth $4.60 a share. Golden also owns all of the land on which its casinos operate — property worth an estimated $1.2 billion. Neither factor is accounted for in the share price, says the analyst.<\/strong><\/p>\nAnother point in favor of Golden is that, by way of a previous deal, it’s due to receive $75 million from William Hill should the British sportsbook operator be acquired. Caesars Entertainment (NASDAQ:CZR) closed its purchase<\/a> of William Hill last week. Bain says that influx of cash could be used to fund return of capital to Golden investors in the fourth quarter of this year, though he didn’t specify if it’d be in the form of buybacks or dividends.<\/p>\n","protected":false},"excerpt":{"rendered":"Already on a torrid pace, Golden Entertainment (NASDAQ:GDEN) stock offers significant appreciation potential. That’s as the Las Vegas locals (LVLs) segment springs back to life and as more Californians flock to Nevada, among other factors, notes a sell-side analyst. B. Riley analyst David Bain initiates coverage on the Strat operator today with a \u201cbuy\u201d rating […]<\/p>\n","protected":false},"author":46,"featured_media":172043,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10],"tags":[],"acf":[],"yoast_head":"\n
Golden Stock Has Winning Potential, Plenty of Catalysts, Says Analyst<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n