Author: Joe Kizlauskas
Last Updated: 30th August 2021
As it releases its financial statistics for the second quarter and first half of 2021, Golden Nugget LLC continues to function at a “very high level.”
The operator announced revenue of $934.5 million for Q2 2021, an increase of 224.4 percent over the same period last year when revenue was $288 million.
Furthermore, Golden Nugget’s revenue for the first half of 2021 increased by 49.6 percent to $1.477 billion, up from $1.054 billion in the first half of 2020.
Chairman and CEO, Tilman Fertitta said: “We continue to perform at a very high level and are very pleased with the second quarter results. We expect to deliver at least $800m adjusted EBITDA for the year.
“I look forward to completing the merger with Fast Acquisition Corp following receipt of regulatory approvals.”
The company’s net income for the second quarter of 2021 was $144.3 million, up from a net loss of $152.7 million the previous year. In the second quarter, the company made a $19.9 million profit on the sale of assets related to Hurricane Laura, compared to a $3.4 million loss the prior year. Adjusted EBITDA does not include either of these items.
In the first half of 2021, net income was $158.5 million, up from $184.3 million in the first half of 2020. In H1, net income includes a gain on asset disposition of $21.6 million, compared to a gain of $5 million the prior year. Adjusted EBITDA does not include either of these items.
In Q2 2021, adjusted EBITDA was $283.7 million, compared to a loss of $26.1 million in Q2 2020. H1 2021 adjusted EBITDA was $418.7 million, up from $47.5 million in H1 2020.