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Gambling in the USA

Golden Entertainment Reports 2020 First Quarter Results



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– Q1 Results Negatively Impacted by Mandated Closure of All Operations in March
– Cash Outlays Significantly Reduced to Preserve Liquidity
– Revolver Fully Drawn in March to Create Over $300 million Cash Position
– Montana Distributed Gaming Operations Reopened May 4th Statewide

Golden Entertainment, Inc.  reported financial results for the first quarter ended March 31, 2020.

Blake Sartini, Chairman and Chief Executive Officer of Golden Entertainment, commented, “The COVID-19 pandemic forced the mandated closure of all our operations beginning in mid-March, and continues to have an unprecedented impact on our business and the gaming and entertainment industry in general. This is reflected in our first quarter financial results, notwithstanding our significant year-over-year growth through February prior to the suspension of our operations. Since the closures, we have focused on supporting our team members, staying connected to our customers, and working to establish appropriate sanitation protocols to offer a safe environment when we are allowed to reopen.


“In order to preserve the Company’s liquidity and position ourselves to withstand the ongoing interruption to our operations, we reduced our cash operating expenses, deferred all capital expenditures and drew down our $200 million availability under our revolving credit facility. The actions that we have taken since the closure of our operations have positioned Golden Entertainment to withstand the current disruption in our business for the foreseeable future.

“Over the last several years we have executed on a strategic plan to put the Company on a path for long-term growth. This plan included capital investment to renovate and reposition The STRAT, accretive acquisitions that have grown our market share in Laughlin, pursuing new distributed gaming markets, and the introduction of our True Rewards one-card loyalty program. Our current cash position, capital structure with no near-term debt maturities, and diverse operations of wholly-owned casinos and distributed gaming operations across multiple jurisdictions will position Golden Entertainment favorably to achieve long-term success as we are allowed to reopen our properties.

“Finally, I want to extend my deepest sympathies to those whose health or livelihood has been directly affected by COVID-19, as well as acknowledge our great appreciation for all the healthcare providers, first responders and other essential workers whose efforts are keeping our communities safe and healthy.”

Consolidated Results

The Company reported 2020 first quarter revenues of $207.2 million compared to $239.9 million in the first quarter of 2019. Net loss for the first quarter of 2020 was $32.6 million, or a loss of $1.17 per share, compared to a net loss of $8.0 million, or $0.29 per share, in the first quarter of 2019. Adjusted EBITDA was $30.3 million for the first quarter of 2020 compared to $48.4 million for the first quarter of 2019.



Casino revenues were $128.0 million in the first quarter of 2020 compared to $151.4 million in the first quarter of 2019. Casino Adjusted EBITDA was $31.8 million compared to $46.6 million in the first quarter of 2019.

Distributed Gaming

Distributed Gaming revenues for the first quarter of 2020 were $79.0 million compared to $88.4 million in the first quarter of 2019. Distributed Gaming Adjusted EBITDA was $7.1 million compared to $13.5 million in the first quarter of 2019.

Balance Sheet Highlights


As of March 31, 2020, the Company had cash and cash equivalents of approximately $302 million, including $200 million drawn from the Company’s revolving credit facility on March 16, 2020. Total debt on March 31 was $1.36 billion including the revolver draw.

Capital Expenditures

Capital expenditures in the first quarter of 2020 totaled $18.5 million, including payments of approximately $12 million related to renovations at The STRAT that were completed in December 2019. The total cost of renovations for The STRAT since June 2018 totals approximately $101 million.



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Diamondhead Casino Corporation Retains Colliers to Assist with Marketing and Financing





Diamondhead Casino Corporation has announced that it has retained Colliers to assist the Company in marketing and financing the development of its Diamondhead, Mississippi Property and/or to sell all or part of the Diamondhead Property. Colliers has prepared marketing materials to market and promote the Property and is now in the process of soliciting interested parties.

The Company owns, through its wholly-owned subsidiary, Mississippi Gaming Corporation, an approximate 400-acre tract of land on Interstate 10 in Diamondhead, Mississippi. The property fronts Interstate 10 for approximately two miles and fronts the Bay of St. Louis for approximately two miles. Over eighteen million vehicles pass the site yearly. The property is already zoned as a Special Use District-Waterfront Gaming District, which permits the development of a casino resort. In addition, the Mississippi Gaming Commission has granted Mississippi Gaming Corporation Gaming Site Approval on a fifty acre site located on the east side of the property.

Patrick Slagle, Vice President of Colliers in Washington, D.C., said: “We believe the Diamondhead site is one of the best remaining gaming sites in the entire country. Its location on Interstate 10, between Biloxi and New Orleans, coupled with the accessibility to the site provided by nearby airports makes it one of the most easily accessible gaming sites in the country. It is a 400-acre blank slate with over two miles of waterfront and ready to be developed as a mixed-use resort with a casino as an anchor and a two mile boardwalk. We know of nothing comparable and no other opportunity of this nature in the industry. With over eighteen million vehicles passing the site annually on Interstate 10, it is an ideal gaming location. The Gulf Coast region of the United States where this casino would be located, is one of the fastest growing gambling markets in the United States. We look forward to finding the perfect match for this outstanding location.”

Under its agreement with Colliers, the Company is free to continue discussions with other interested parties. Unless extended by the parties, the Agreement will terminate at the end of this year.


The Company also announced that its subsidiary, Mississippi Gaming Corporation (MGC), had entered into a Settlement Agreement with Cooperative Energy, a Mississippi Electric Cooperative, which had filed an eminent domain action against MGC, for $1,000,000 million in return for easements along the northern portion of the property. In October of 2023, Mississippi Gaming Corporation received $845,378 as part of the settlement amount. The parties are working on the wording of the easements. Once the easements are finalised and signed, Cooperative Energy will pay MGC the remaining amount due of $154,622.

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Gambling in the USA

Gaming Americas Weekly Roundup – June 10-16



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Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.

Latest News

The Michigan Gaming Control Board recently convened a panel discussion focused on college sports betting regulations and compliance measures. The June 3 informative session offered insights into the intricacies of governing college sports betting, emphasising the importance of maintaining integrity within the industry., an innovative interactive trading simulator gaming universe, has officially launched. The dynamic trading platform offers users the chance to immerse themselves in a socially-driven game landscape while honing their investment and asset-trading skills. Since its initial release, has rapidly gained popularity, attracting over 15,000 users.


Oxygen Esports announced the establishment of Quick Fix Media (QFM), a new, independent esports content and media incubator. QFM’s charter provides material and strategic assistance to community-based esports news, content and media outlets, to support their growth in esports coverage and community cultivation.

Fanatics Betting & Gaming has appointed Selena Kalvaria as Chief Marketing Officer to lead brand development, leveraging an integrated marketing approach to drive creativity and growth through oversight of Brand Management, Media, Content, Creative and Communications. Selena joins Fanatics’ betting division after three years at luxury label Gucci, where she was most recently SVP, Brand & Client Engagement for its Americas business.

Boyd Gaming Corporation announced the appointment of Michael A. Hartmeier to its Board of Directors. Hartmeier is the former group head of lodging, gaming and leisure investment banking for Barclays, and previously served as group head for hospitality and gaming for both Lehman Brothers and Credit Suisse First Boston.

Mohegan announced the promotion of Nelson Parker as the company’s Chief Strategy Officer. Parker was previously the SVP of Strategic Development for Mohegan. In this new role, Parker is responsible for identifying, assessing and executing growth opportunities and strategic new ventures for the company. has launched its latest innovation: the “Picks & Props” app. Unveiled within the app store earlier this month, it is now easier than ever to stay up to date on recommendations and predictions for all fantasy pick’em and players props from any mobile or tablet device.



Blazesoft’s Zula Casino has entered into a partnership with Casimba Gaming, which will see it become its newest aggregation partner. Through this alliance, Habanero’s hit slot titles like Laughing Buddha, Disco Beats and Lucky Lucky were launched on With the popular online social casino gaining access to Casimba Gaming’s entire content portfolio from more than 95 of the industry’s top studios, users can discover fresh titles in the lobby’s “New” category.

The Atlantic Coast Conference (ACC) and Integrity Compliance 360 (IC360), formerly U.S. Integrity and Odds On Compliance, have announced a comprehensive partnership. This partnership will provide each ACC member institution access to Integrity Compliance 360’s integrity monitoring technology and data insights. The proprietary integrity monitoring technology analyses various data sets to identify irregular contest-level officiating and wagering patterns proactively.

Midnight Gaming Corporation announced that it has entered into a Venue Event Booking Services Agreement with Compass Arena. The agreement gives Midnight a five year exclusive service period to provide esports and gaming events, conventions and tournaments to Compass.

The post Gaming Americas Weekly Roundup – June 10-16 appeared first on European Gaming Industry News.

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Red Rake Gaming launches with The Score





Red Rake Gaming are delighted to have partnered with Penn Entertainments, The Score, in the provision of the Red Rake Gaming content across North America, in New Jersey, Pennsylvania and Ontario, through its partnership with Light and Wonder.

Penn, one of the most renowned gaming companies across North America will have access to Red Rake Gaming’s top performing, high action games to further complement Penn’s delivery of the best gaming offering to its players. Players can expect a wide range of thrilling games, cutting-edge technology, and exclusive tournaments that will keep them engaged and entertained like never before. With the collective strengths of Red Rake Gaming and Penn, this partnership is set to elevate the gaming experience to new heights, setting a benchmark for excellence in the industry.

The partnership covers the distribution of Red Rake Gaming’s diverse, localised portfolio, including its gamification tools. Games will include the newest releases, including its record breaking Super30Stars – the non-stop, action-packed slot which combines feature games and bonus rounds from all its predecessors in the Super series of games, “Gods of Ireland,” a game that boasts a plethora of features, free spins, and immersive minigames,  “777 Heist 2: The Art Forger,” which introduces thrilling “Cascading Reels” and intriguing skill-based gameplay elements, or “Mystic Spirits”, that offers a unique twist by providing payouts in both directions, adding an extra layer of excitement to the gaming experience.

This partnership represents a pivotal milestone in Red Rake Gaming’s ongoing commitment to providing unparalleled content within its current roster of regulated markets. It also underscores the resounding demand from players worldwide for the adrenaline-fueled gaming experiences that Red Rake Gaming is renowned for delivering.


Nick Barr, Managing Director for Red Rake Gaming Malta, commented on the partnership stating: “Partnering with The Score for the roll out of the Red Rake Gaming portfolio of games reaffirms the demand for action-packed and engaging content from players across the globe. We could not be more thrilled to be working with one of the industry’s leading brands across the regulated gaming space and we very much look forward to contributing to their ongoing successes.”

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