Land-based casino operator Golden Nugget, LLC, has released its financial results for the first half of 2021, showing a revenue increase of 49.6% over H1 2020.
Total revenue for the first half came to $1.58bn, compared to $1.05bn in H1 2020.
While it did not fully break down its expenses, the business was left with earnings before interest, tax, depreciation and amortization (EBITDA) of $440.1m, compared to a negative EBITDA figure of $17.2m last year.
The business then paid interest expenses of $138.2m, down from $143.1m, income taxes of $41.9m compared to an $82.3m tax benefit in H1 2020 and depreciation and amortization costs of $99.1m, down from $107.2m. As a result, the business was left with a net income of $160.9m, compared to a $185.1m net loss in H1 2020.
Revenue for the second quarter of 2021 came in at $934.5m, compared to $288.0m in 2020. The business generated EBITDA of $303.5m, compared to a negative EBITDA figure of $89.1m.
The operator’s net income for Q2 was $146.3m, compared to a net loss of $153.5m in 2020.
Golden Nugget’s chairman and chief executive, 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 $800.0 million adjusted EBTIDA for the year. I look forward to completing the merger with Fast Acquisition Corp following receipt of regulatory approvals.”
Golden Nugget’s former igaming division, Golden Nugget Online Gaming, which is no longer part of the land-based Golden Nugget business following its own SPAC merger, recently agreed to be acquired by DraftKings in a $1.56bn deal. It recorded H1 revenue of $58.4m, up 38.7% on the same period last year.