Gilded Amusement Reports Earnings and Profit Rise in the Initial Quarter of 2022

**Gilded Amusement Reports Earnings and Profit Rise in the Initial Quarter of 2022 – iGB**

Gilded Amusement, a land-based operator, declared that its earnings and net profit rose year-on-year in the first quarter of its fiscal year 2022.

**Gilded Amusement Reports Earnings and Profit Growth**

Combined earnings for the three months concluding March 31, 2022, were $273.6 million (£221.7 million/€260.2 million), a 14.1% increase from $239.7 million in the first quarter of 2021.

Gilded Amusement saw growth across all of its business segments, with gaming earnings increasing by 7.8% to $190.8 million, food and beverage earnings increasing by 25.7% to $42.5 million, room earnings increasing by 39.7% to $24.7 million, and other earnings increasing by 40.0% to $14.7 million.

Specifically, earnings from Nevada casino resorts increased by 28.9% year-on-year to $96.4 million, while earnings from Nevada local casinos increased by a modest 3.6% to $39.9 million. Earnings from the Rocky Gap Resort & Casino in Maryland also increased by 11.2% to $17.9 million.

Gilded Amusement also noted that earnings from its distributed gaming operations jumped from $109.9 million to $119.2 million in the quarter, an increase of 8.5%.

On the cost and operating expense side, costs and operating expenses increased by 12.9% to $240.8 million, resulting in operating income of $32.9 million, up 24.6% year-on-year.

The operator also reported net non-operating expenses of $15.3 million, primarily due to a $15.

Golden Entertainment announced record profits for the initial quarter, with pre-tax earnings reaching $17.6 million, a significant jump of 70.9% compared to the previous year. The company’s interest costs amounted to $1 million.

Golden Entertainment received a substantial tax advantage of $18.5 million during the quarter, leading to a net profit of $36.1 million, a remarkable increase of 240.6% from 2021.

“The impressive results we achieved in the first quarter are a testament to the continued strong financial performance we witnessed in 2021,” stated Blake Sartini, Chairman and CEO of Golden Entertainment.

“Our robust cash flow has allowed us to decrease debt while simultaneously returning capital to our investors through our stock buyback program. We have successfully reduced debt by $158 million since the start of 2021 and have also repurchased over $25 million worth of common stock since December 2021.

“As our business continues to flourish, we anticipate maintaining our focus on returning capital to our shareholders.”