Las Vegas-based Golden Entertainment plans to add six properties in Southern Nevada, joining its current Sierra Gold, PT’s Tavern, and PT’s Brewing pubs.
The company did not say where or when in 2016 the new establishments will open, but the company intends to continue its recent growth, which is driving its revenues and profits. It recently purchased Summerlin’s Sedona restaurant, which would likely reopen as a Sierra Gold.
Golden announced its expansion plans in its fourth-quarter 2015 filing, in which it reported $23.4 million in net income, $1.06 per share, and $90.8 million in revenue for the final three months of the year.
The quarter’s report showed significant improvements from a year earlier, when the company reported a $58,000 loss from $12.8 million in revenue.
Golden Entertainment Chairman, President, and CEO Blake Sartini cited the company’s recent completion of a $341 million merger with Minnesota-based Lakes Entertainment as greatly improving its year-end results.
“We ended 2015 with strong quarterly results that reveal the initial benefits of the merger,” Sartini said. “In addition, we are now operational in Montana as a result of closing our distributed gaming acquisition during the month of January.
“Going forward into 2016, we continue to focus on our unique growth opportunities while enhancing productivity within each of our business segments.”
Golden Entertainment has 10,300 slots and 30 table games in four casinos, close to 50 taverns with gaming, and operates 770 route locations in Nevada, Montana, and Maryland.
Golden owns the Pahrump Nugget Hotel, Gold Town Casino, and Lakeside Casino and RV Park in Pahrump, making it the largest gaming operator in Nye County.
