{"id":312722,"date":"2024-03-02T17:43:15","date_gmt":"2024-03-02T23:43:15","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=312722"},"modified":"2024-03-04T12:08:02","modified_gmt":"2024-03-04T18:08:02","slug":"golden-entertainment-now-among-casino-dividend-payers","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/golden-entertainment-now-among-casino-dividend-payers\/","title":{"rendered":"Golden Entertainment Joins List of Casino Dividend Payers"},"content":{"rendered":"

Golden Entertainment (NASDAQ: GDEN) is now among the group casino operators paying investors a quarterly dividend.<\/p>\n

\"Golden
Golden Entertainment’s corporate logo. The company announced its first quarterly dividend on Thursday. (Image: PR Newswire)<\/figcaption><\/figure>\n

In conjunction with its fourth-quarter earnings report on Thursday, the Strat operator announced that it initiated a quarterly dividend of 25 cents a share. The distribution is payable on April 4 to shareholders of record as of March 18. Based on the gaming company\u2019s closing share price of $34.26 yesterday and a $1 per share annual payout, Golden Entertainment\u2019s dividend yield would be 2.9% as of March 1.<\/p>\n

\n

That\u2019s more than double the yield on the Russell 2000 Index, which is a widely followed gauge of small-cap equities — a relevant comparison, because with a market capitalization of $982.23 million, the gaming resides in small-cap territory.<\/p>\n<\/div>\n

At the end of last year, Golden had cash and cash equivalents of $197.6 million, which doesn\u2019t include cash from the sale of its<\/a> Nevada distributed gaming unit. That transaction closed on Jan. 10.<\/p>\n

\n

Golden Can Support Rewards<\/h2>\n<\/div>\n

Golden Entertainment isn\u2019t a stranger to shareholder rewards. Last July, it announced a special dividend<\/a> of $2 per share, while adding $100 million to a share repurchase program. Those moves underscore the robust health of the operator\u2019s balance sheet.<\/p>\n

With one of the strongest balance sheets in gaming and full ownership of its properties, we continue to recommend GDEN as an inexpensive way for exposure to the healthy and growing Southern Nevada Gaming region,\u201d<\/strong> wrote Macquarie analyst Chad Beynon in a note to clients.<\/p><\/blockquote>\n

He has an \u201coutperform\u201d rating on Golden, with a $47 price target, which implies upside of 37.1% from the March 1 close.<\/p>\n

In the fourth quarter, the Arizona Charlie\u2019s operator repurchased $59 million of debt, bringing its 2023 debt reduction tally to $239 million. At the end of the year, the gaming company had $677.7 million in outstanding liabilities and no outstanding borrowings on its $240 million revolving credit facility.<\/p>\n

Laughlin Source of Strength, Intrigue<\/h2>\n

While earnings before interest, taxes, depreciation, and amortization (EBITDA) at Golden\u2019s two Laughlin, Nevada casino resorts declined 9% in the fourth quarter, revenue rose. That’s despite there being one less concert than in the year-earlier period.<\/p>\n

\u201cIn December, Laughlin revenue and EBITDA showed positive growth over the prior year, and we continue to see signs of margin stabilization to start 2024. Entertainment is a big driver of performance for our Laughlin properties, and we are working to optimize our offerings to create more cost-effective traffic drivers to our venues over the coming year,\u201d said Golden CFO and President Charles Protell on a conference call with analysts.<\/p>\n

However, the operator remains mum on the still-shuttered Colorado Belle<\/a> — a Laughlin venue that was closed by the coronavirus pandemic and has yet to reopen. It\u2019s unlikely Golden will reopen that riverboat casino. But the company hasn\u2019t yet publicly revealed next steps for the property.<\/p>\n","protected":false},"excerpt":{"rendered":"

Golden Entertainment (NASDAQ: GDEN) is now among the group casino operators paying investors a quarterly dividend. In conjunction with its fourth-quarter earnings report on Thursday, the Strat operator announced that it initiated a quarterly dividend of 25 cents a share. The distribution is payable on April 4 to shareholders of record as of March 18. […]<\/p>\n","protected":false},"author":46,"featured_media":263585,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,33810,81886],"tags":[81903,81898,23],"acf":[],"yoast_head":"\nGolden Entertainment Now Among Casino Dividend Payers<\/title>\n<meta name=\"description\" content=\"Golden Entertainment Joins List of Casino Dividend Payers.\" \/>\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-now-among-casino-dividend-payers\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Golden Entertainment Now Among Casino Dividend Payers\" \/>\n<meta property=\"og:description\" content=\"Golden Entertainment Joins List of Casino Dividend Payers.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/golden-entertainment-now-among-casino-dividend-payers\/\" \/>\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=\"2024-03-02T23:43:15+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-04T18:08:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/GDEN.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1496\" \/>\n\t<meta property=\"og:image:height\" content=\"785\" \/>\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=\"3 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-now-among-casino-dividend-payers\/\",\"url\":\"https:\/\/www.casino.org\/news\/golden-entertainment-now-among-casino-dividend-payers\/\",\"name\":\"Golden Entertainment Now Among Casino Dividend Payers\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/golden-entertainment-now-among-casino-dividend-payers\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/golden-entertainment-now-among-casino-dividend-payers\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/GDEN.jpg\",\"datePublished\":\"2024-03-02T23:43:15+00:00\",\"dateModified\":\"2024-03-04T18:08:02+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Golden Entertainment Joins List of Casino Dividend Payers.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/golden-entertainment-now-among-casino-dividend-payers\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/golden-entertainment-now-among-casino-dividend-payers\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/golden-entertainment-now-among-casino-dividend-payers\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/GDEN.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/GDEN.jpg\",\"width\":1496,\"height\":785,\"caption\":\"Golden Entertainment's corporate logo. 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