{"id":212465,"date":"2022-05-08T03:00:42","date_gmt":"2022-05-08T10:00:42","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=212465"},"modified":"2022-05-08T16:36:55","modified_gmt":"2022-05-08T23:36:55","slug":"golden-entertainment-stock-still-favored-by-wall-street","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/golden-entertainment-stock-still-favored-by-wall-street\/","title":{"rendered":"Golden Entertainment Stock Slump Could Be Golden Opportunity"},"content":{"rendered":"<p>Golden Entertainment (NASDAQ:GDEN) stock joined other gaming equities to the downside last week, sliding 3.88%. But analysts remain bullish on the Strat operator.<\/p>\n<figure id=\"attachment_212466\" aria-describedby=\"caption-attachment-212466\" data-style=\"width: 1200px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-212466\" src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/05\/RG-142x121.jpg\" alt=\"Golden stock\" width=\"1200\" height=\"1020\" \/><figcaption  id=\"caption-attachment-212466\"class=\"text-description\">Golden Entertainment&#8217;s Rocky Gap Casino-Resort in Maryland. Analysts remain bullish on the stock despite recent weakness. (Image: Rocky Gap Casino-Resort)<\/figcaption><\/figure>\n<p>While the shares are off almost 13% over the past month, that weakness could be creating opportunity. Somemarket observers view it as a well-run operator with strong free cash flow-generating capabilities and exposure to favorable demographic trends.<\/p>\n<blockquote class=\"main-blockquote\"><p><strong>GDEN\u2019s visible net free cash flow is mostly generated from what is now the most dynamic gaming market worldwide, Southern Nevada, and combines with a lack of project \/ capex risk &#8211; scarce and well-suited for today\u2019s risk-off environment,\u201d<\/strong> said B. Riley analyst David Bain in a note to clients last Friday.<\/p><\/blockquote>\n<p>He rates Golden stock a \u201cbuy\u201d with a $75 price target, which implies upside of 62.6% from the May 6 close.<\/p>\n<h2>Golden Stock Story not Fully Appreciated<\/h2>\n<p>Golden isn\u2019t immune to the <a href=\"https:\/\/www.casino.org\/news\/draftkings-2022-outlook-fails-to-stem-stock-slide\/\">downdraft ensnaring gaming equities<\/a> this year &#8212; one caused by high inflation and increasing concerns about a looming recession.<\/p>\n<div class=\"callout\">\n<p>Still, Bain argues there\u2019s a lot to like with the regional casino operator, which focuses on the vibrant Las Vegas locals market while also running the Rocky Gap casino-hotel in Maryland.<\/p>\n<\/div>\n<p>\u201cWe continue to believe investors undervalue GDEN\u2019s NV portfolio, which is benefiting from wealth migration to NV, increased home equity values, increased travel, increasing conventions\/attendance and augmenting entertainment\/events,\u201d adds the analyst. \u201cFurther, its Maryland casino continues to benefit from lack of new competition, higher margins, and general travel trends.\u201d<\/p>\n<p><strong>The Strat is also contributing to the Golden thesis. While the venue isn\u2019t on the Strip, it\u2019s close, and draws a mix of tourists and locals.<\/strong><\/p>\n<p>\u201c1Q22 occupancy compares to CY19 occupancy of ~90%. We calculate an additional $12M to $16M of additional per annum earnings before interest, taxes, depreciation and amortization (EBITDA) (well over half of which, at the mid-point, is upside to our forecast) from occupancy rates rising back to normalized levels,\u201d notes Bain.<\/p>\n<h2>With Golden Stock, Cash Is King<\/h2>\n<p>Adding to the point that Golden stock isn\u2019t getting the credit it deserves are the following: the company is repurchasing stock, generating <a href=\"https:\/\/www.casino.org\/news\/demand-trends-remain-robust-at-regional-casinos\/\">abundant free cash flow<\/a>, and isn\u2019t currently planning big spending on new projects &#8212; all potentially favorable points at a time when markets are punishing profligate spenders with weak balance sheets.<\/p>\n<p>Additionally, Golden owns all of its real estate &#8212; meaning it has levers to pull should it need to raise capital &#8212; and trades at noticeable enterprise value\/EBITDA discounts relative to its peer group.<\/p>\n<p><strong>\u201cVisible, growing cash flow is primarily generated from wholly-owned gaming assets in NV which capture Strip, locals, and hyper-local upside from an ongoing, positive market dynamic and an intense management focus on FCF for an accelerated return of capital to shareholders,\u201d <\/strong>concludes B. Riley\u2019s Bain.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Golden Entertainment (NASDAQ:GDEN) stock joined other gaming equities to the downside last week, sliding 3.88%. But analysts remain bullish on the Strat operator. While the shares are off almost 13% over the past month, that weakness could be creating opportunity. Somemarket observers view it as a well-run operator with strong free cash flow-generating capabilities and [&hellip;]<\/p>\n","protected":false},"author":46,"featured_media":212466,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Golden Entertainment Stock Still Favored By Wall Street<\/title>\n<meta name=\"description\" content=\"Golden Entertainment remains a favored gaming stock among analysts despite rough start to 2022.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/golden-entertainment-stock-still-favored-by-wall-street\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Golden Entertainment Stock Still Favored By Wall Street\" \/>\n<meta property=\"og:description\" content=\"Golden Entertainment remains a favored gaming stock among analysts despite rough start to 2022.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/golden-entertainment-stock-still-favored-by-wall-street\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2022-05-08T10:00:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-05-08T23:36:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/05\/RG.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"850\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/golden-entertainment-stock-still-favored-by-wall-street\/\",\"url\":\"https:\/\/www.casino.org\/news\/golden-entertainment-stock-still-favored-by-wall-street\/\",\"name\":\"Golden Entertainment Stock Still Favored By Wall Street\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/golden-entertainment-stock-still-favored-by-wall-street\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/golden-entertainment-stock-still-favored-by-wall-street\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/05\/RG.jpg\",\"datePublished\":\"2022-05-08T10:00:42+00:00\",\"dateModified\":\"2022-05-08T23:36:55+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Golden Entertainment remains a favored gaming stock among analysts despite rough start to 2022.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/golden-entertainment-stock-still-favored-by-wall-street\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/golden-entertainment-stock-still-favored-by-wall-street\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/golden-entertainment-stock-still-favored-by-wall-street\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/05\/RG.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/05\/RG.jpg\",\"width\":1000,\"height\":850,\"caption\":\"Golden Entertainment's Rocky Gap Casino-Resort in Maryland. Analysts remain bullish on the stock despite recent weakness. 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Analysts remain bullish on the stock despite recent weakness. 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Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. 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