Golden Entertainment Eyes Strategic Acquisitions

Golden Entertainment, a leading casino operator headquartered in Las Vegas, has announced its cautious approach to mergers and acquisitions during a recent conference call with analysts. The company, known for its substantial presence in Nevada, has made it clear that it is willing to explore avenues for growth through acquisitions, but under specific conditions. Golden Entertainment CFO Charles Protell emphasized that the firm is not considering 'green field developments'—those requiring significant new construction—and does not plan to invest in single asset acquisitions with EBITDA below $40-50 million. Protell noted that potential acquisitions should provide a rapid deleveraging path to align with Golden's long-term leverage target. The company currently holds a strategic geographic focus on Nevada but remains open to multi-property acquisitions outside of the state. The discussion followed Golden's two-year milestone since selling its Maryland-based Rocky Gap Casino Resort for $260 million, underscoring strategic shifts in its portfolio. Additionally, there have been market speculations about the company potentially monetizing its real estate holdings to provide shareholder value, although no specific timeline or details were shared on the call. The Colorado Belle casino in Laughlin remains closed with no updates on its reopening plans.