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GDEN - Golden Entertainment: Current Divestitures And Attractive Valuation Offer Compelling Opportunity
Golden Entertainment Inc.
2024-07-12 09:50:28 ET
Summary
Golden Entertainment completed the sale of the Distributed Gaming sector and Maryland Casino Resort to focus on its Nevada operations and improve its margins.
The fund from the divestitures was primarily used to significantly lower the leverage and reduce the interest expenses.
Completion of major renovations in Golden's most valuable asset, The STRAT, along with the opening of Atomic Golf in March can boost the revenue and EBITDA.
At the current valuation, I believe new investors are only paying for the Taverns sector and The STRAT resort while the rest of the assets are basically being offered for free.