The head of American casino operator Golden Entertainment Incorporated has reportedly announced that his company will be looking for “smaller, bite-sized” acquisitions over the next 18 months.
According to a report in Thursday’s Las Vegas Review-Journal newspaper, CEO Blake Sartini’s revelation comes after his company posted better-than-expected second-quarter financial results despite the devastating effects of the ongoing coronavirus pandemic. The company reportedly celebrated despite its three-month loss increasing nearly 446% year over year to $ 78.6 million as total revenue fell around 69% to around $ 76 million.
Golden Entertainment Incorporated is responsible for Western MarylandRocky Gap Casino Resort next door nine casinos in Nevada, including the legendary The Strat Hotel, Casino and Skypod. It was supposedly allowed In June, operations at these venues will partially resume after the revival of 3,000-strong distributed slot operations in Montana from May 4th an almost seven-week coronavirus-related shutdown.
The newspaper reported that Sartini believed the las The Vegas-based company is now well positioned to ‘respond to future growth opportunities‘that could be a’Expand distributed gambling in new jurisdictions‘ in addition to ‘targeted acquisitions‘. But the executive also allegedly stated that he did not expect Golden Entertainment Incorporated ‘grow sensibly‘Over the next few years as he is not interested in accumulating any more debt.
It was further reported that in the six weeks ending April, Golden Entertainment Incorporated had approximately 6,960 employees in Nevada at risk of leave or layoff. Sartini also announced that his company’s flagship hotel, the Strat Hotel, Casino, and Skypod Estate have seen their average occupancy Increase from around 40% in June to around 50% last month with this figure later ‘touched‘70% on the weekend.