Golden Ent. reports negative swing of more than $11 million
November 09, 2018 9:30 AM
by Dave Dye
Golden Entertainment reported a negative swing of more than $11 million during the third-quarter this year compared to last year.
The company suffered a $3.1 million loss for the period that ended September 30 this year. A year ago, Golden had an $8.5 million profit during the same time.
Despite a solid performance from its casinos in Laughlin, Nev., the company’s latest numbers were hurt in part by its marquee property in Las Vegas, the Stratosphere.
Blake Sartini, Golden Entertainment’s chairman and CEO, said in a statement that the company “experienced a challenging third quarter primarily due to weaker than expected results at the Stratosphere and at chain store locations in our Nevada distributed gaming business,” according to the Las Vegas Review-Journal.