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GDEN on NASDAQ

Golden Entertainment

Logo: Golden Entertainment, Public domain, via Wikimedia Commons5

American gaming company

Golden Entertainment, Inc. is an American gambling company based in Enterprise, Nevada that operates casinos and taverns. It was formed in 2015 by the merger of Golden Gaming (founded in 2001 by Blake Sartini) and Lakes Entertainment. It is the largest tavern operator in Nevada.3 Its shares trade on NASDAQ under the symbol GDEN.1 Wikipedia text CC BY-SA 4.0

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Last updated Oct 21, 2026.

Overview

Aug 3, 2015Founded1

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  • TickerGDEN on NASDAQ1
  • Industrygambling1
  • HeadquartersEnterprise1
  • Websitewww.goldenentertainment.com
  • Business address535 Madison Avenue, New York, Ny 100226
  • Filer categoryLarge accelerated filer6
  • Legal formBusiness Corporation4
  • LEI549300P8YYCKQVJ0Y6384
  • StatusActive4
  • LEI statusLapsed (not renewed)4
  • Registered addressC/O Corporation Service Company, 55113-5603 Roseville, United States4
  • Registered withOffice of the Minnesota Secretary of State Business & Lien system, 10E-8824

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Golden Entertainment, Inc. is an American gambling company based in Enterprise, Nevada that operates casinos and taverns. It was formed in 2015 by the merger of Golden Gaming (founded in 2001 by Blake Sartini) and Lakes Entertainment. It is the largest tavern operator in Nevada. In October 2017, the company completed an $850 million acquisition of American Casino & Entertainment Properties. The company now has eight casino resorts, all located in Southern Nevada.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

3.4%Operating margin9
-1.0%Net margin9
-4.8%Revenue growth, 20259
-1.4%Return on equity9
$35.6MFree cash flow9

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue7¢$45.9M
  • Selling, general and admin34¢$218.5M
  • Other costs58¢$367.5M
  • Income tax0¢$3.1M

Out of $634.9M in revenue.9 The company lost money this year.

Where each dollar of operating cash went, fiscal 2025

  • Capital spending49¢$47.5M
  • Dividends paid27¢$26.4M
  • Share buybacks23¢$22.3M

Out of $83.1M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.9

Financial statements

Revenue1011129$634.9M in 2025−35% since 2019
0$500.0M$1.0B$1.5B2019: $973.4M$973.4M20192020: $694.2M$694.2M2020−29%2021: $1.1B$1.1B2021+58%2022: $1.1B$1.1B2022+2%2023: $1.1B$1.1B2023−6%2024: $666.8M$666.8M2024−37%2025: $634.9M$634.9M2025−5%
Operating income101112139$21.5M in 2025−53% since 2019
-$200.0M0$200.0M$400.0M2019: $46.1M$46.1M20192020: -$67.4M-$67.4M20202021: $166.0M$166.0M20212022: $147.9M$147.9M2022−11%2023: $399.2M$399.2M2023+170%2024: $112.1M$112.1M2024−72%2025: $21.5M$21.5M2025−81%
Net income101112139-$6.0M in 2025−85% since 2019
-$200.0M-$100.0M0$100.0M$200.0M$300.0M2019: -$39.5M-$39.5M20192020: -$136.6M-$136.6M2020+245%2021: $161.8M$161.8M20212022: $82.3M$82.3M2022−49%2023: $255.8M$255.8M2023+211%2024: $50.7M$50.7M2024−80%2025: -$6.0M-$6.0M2025
Fiscal year2019202020212022202320242025
Revenue$973.4M10$694.2M11$1.1B12$1.1B12$1.1B12$666.8M9$634.9M9
Cost of revenue$46.6M13$46.5M9$46.3M9$45.9M9
Selling, general and admin$229.3M10$183.1M11$222.0M12$235.4M13$255.6M9$225.3M9$218.5M9
Operating expenses$930.5M12$183.1M13$200.8M9$199.5M9$188.7M9
Operating income$46.1M10-$67.4M11$166.0M12$147.9M13$399.2M9$112.1M9$21.5M9
Interest
Income before tax$162.2M12$82.9M13$332.0M9$72.8M9-$9.1M9
Income tax-$1.9M10$61.0K11$436.0K12$521.0K13$76.2M9$22.1M9-$3.1M9
Net income-$39.5M10-$136.6M11$161.8M12$82.3M13$255.8M9$50.7M9-$6.0M9
Earnings per share-$1.4310-$4.8711$5.6412$2.8713$8.939$1.809-$0.239
Earnings per share (diluted)-$1.4310-$4.8711$5.0412$2.6113$8.319$1.719-$0.239
Shares (weighted, basic)28.7M shares1228.7M shares1328.7M shares928.2M shares926.3M shares9
Shares (weighted, diluted)32.1M shares1231.5M shares1330.8M shares929.7M shares926.3M shares9

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Corporate structure

Golden Entertainment sits at the top of its group. 110 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Golden Entertainment

  • Golden Entertainment Las Vegas, Nevada, United States
    • 1 Golden Holdings, Inc. Subsidiary · Nevada, United States
    • 10 Golden – PT’s Pub East Sahara 3, LLC Subsidiary · Nevada, United States
    • 100 ACEP Interactive, LLC Subsidiary · Nevada, United States
    • 101 Stratosphere Gaming LLC Subsidiary · Nevada, United States
    • 102 Aquarius Gaming LLC Subsidiary · Nevada, United States
    • 103 Arizona Charlie’s LLC Subsidiary · Nevada, United States
    • 104 Fresca, LLC Subsidiary · Nevada, United States
    • 105 Colorado Belle Gaming, LLC Subsidiary · Nevada, United States
    • 106 Edgewater Gaming, LLC Subsidiary · Nevada, United States
    • 107 Stratosphere Entertainment LLC Subsidiary · Nevada, United States
    • 108 W2007 Stratosphere Land Propco, LLC Subsidiary · Delaware, United States
    • 109 Padres Land 2017, LLC Subsidiary · Nevada, United States
    • 11 Golden – PT’s Pub Summerlin 6, LLC Subsidiary · Nevada, United States
    • 12 Golden – PT’s Pub West Sahara 8, LLC Subsidiary · Nevada, United States
    • 13 Golden – PT’s Pub Spring Mountain 9, LLC Subsidiary · Nevada, United States
    • 14 Golden – PT’s Pub Flamingo 10, LLC Subsidiary · Nevada, United States
    • 15 Golden – PT’s Pub Rainbow 11, LLC Subsidiary · Nevada, United States
    • 16 Golden – PT’s Pub Durango 12, LLC Subsidiary · Nevada, United States
    • 17 Golden – PT’s Pub Warm Springs 13, LLC Subsidiary · Nevada, United States
    • 18 Golden – PT’s Pub Winterwood 16, LLC Subsidiary · Nevada, United States
    • 19 Golden – PT’s Pub Sunset-Pecos 17, LLC Subsidiary · Nevada, United States
    • 2 77 Golden Gaming, LLC Subsidiary · Nevada, United States
    • 20 Golden – PT’s Pub MLK 18, LLC Subsidiary · Nevada, United States
    • 21 Golden – PT’s Pub Tunes 19, LLC Subsidiary · Nevada, United States
    • 22 Golden – PT’s Pub Decatur-Hacienda 20, LLC Subsidiary · Nevada, United States
    • and 84 more

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Golden Entertainment reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Finance-lease assets$2.5M9 Dec 31, 2025$4.0M9 Dec 31, 2024−38.8%
Operating-lease assets (leased space)$70.8M9 Dec 31, 2025$78.5M9 Dec 31, 2024−9.8%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$55.3M9 Dec 31, 2025$57.7M9 Dec 31, 2024−4.2%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$86.5M9 Dec 31, 2025$86.5M9 Dec 31, 20240%
Intangible assets, net (excluding goodwill)$50.7M9 Dec 31, 2025$53.4M9 Dec 31, 2024−5.0%
Indefinite-lived intangibles (excluding goodwill)$55.5M9 Dec 31, 2025$55.5M9 Dec 31, 20240%
Finite-lived intangibles, gross$51.4M9 Dec 31, 2025$51.4M9 Dec 31, 20240%
Accumulated amortization$48.7M9 Dec 31, 2025$46.0M9 Dec 31, 2024+5.8%
Finite-lived intangibles, net$2.7M9 Dec 31, 2025$5.4M9 Dec 31, 2024−49.9%

Inventory

ItemLatestA year beforeChange
Inventory, total$8.5M9 Dec 31, 2025$8.0M9 Dec 31, 2024+6.0%

Properties, in its own words

The location and characteristics of our properties are provided in Part I, Item 1: Business of this Annual Report.

The following table provides further information on our properties and identifies the properties subject to leases of the underlying real estate assets as of December 31, 2025:

The rest of Item 2

Name and Location · Approximate Acres · Owned · Leased

The STRAT (Las Vegas, NV) · 36 · Owned

Aquarius (Laughlin, NV) · 19 · Owned

Edgewater (Laughlin, NV) · 16 · Owned

Colorado Belle-closed (Laughlin, NV) · 22 · Owned

Arizona Charlie’s Boulder (Las Vegas, NV) · 24 · Owned

Arizona Charlie’s Decatur (Las Vegas, NV) · 17 · Owned

Pahrump Nugget (Pahrump, NV) · 38 · Owned

Lakeside Casino & RV Park (Pahrump, NV) · 32 · Owned

Gold Town Casino (Pahrump, NV) · 9 · Leased

72 branded tavern locations (Las Vegas, NV and Reno, NV) · — · Leased

Corporate and Other

Company headquarters (Las Vegas, NV) · — · Leased

Office and warehouse (Las Vegas, NV) · — · Leased

Item 2 of the 10-K filed Feb 27, 2026.18

The story

Golden Gaming was formed in October 2001 as a result of Blake L. Sartini's acquisition of Southwest Gaming Services, a company he founded before selling to Station Casinos.

In 2002, the Golden Tavern Group subsidiary was formed, and it acquired the PT's chain of taverns.

In 2004, the company acquired three casinos in Black Hawk, Colorado: the Golden Gates, Golden Gulch, and Golden Mardi Gras.

In 2006, Golden Gaming acquired the Pahrump Nugget Hotel & Gambling Hall from Generation 2000.

In February 2007, Golden began a two-year deal to operate the casino at the Hard Rock Hotel while its new owner, Morgans Hotel Group, applied for a gaming license. Golden paid $20.7 million a year to lease the casino, and received a $3.3 million monthly management fee, plus a portion of revenue. Golden pulled out of the deal early when Morgans received its gaming license in January 2008, citing a desire to focus on its other operations.

Golden Gaming agreed in November 2007 to buy the Saddle West casino in Pahrump from Anthony Marnell III and Sher Gaming, but canceled the deal the following June, deciding instead to focus on the Pahrump Nugget, where it began an $11 million expansion and remodeling.

In 2010, Golden Gaming agreed to take over operation of four small casinos owned by The Siegel Group, previously operated by United Coin: the Gold Spike, Siegel Slots and Suites, the Resort on Mount Charleston, and Rumor.

In March 2012, Golden bought from Affinity Gaming the Terrible's Town Casino and Terrible's Lakeside Casino & RV Park in Pahrump and Affinity's slot route operation (except for Terrible Herbst locations). The deal made Golden the largest employer and largest gaming operator in Nye County, and the largest slot route operator in Nevada, with about 8,500 machines in 650 locations, making up 45% of the market. Affinity in turn bought Golden's three casinos in Black Hawk, which were valued at a total of $76–92 million.

Read the full text

Golden Gaming agreed in January 2015 to merge with Lakes Entertainment. Sartini would own 35% of the company and serve as its chief executive officer. The merger was completed on August 3, 2015, establishing Golden Entertainment.

The company expanded into Montana in 2016, purchasing slot routes with 2,800 machines for a total of $45 million. In June 2017, Golden Entertainment was granted a license for slot route operations in Illinois. This marked the fourth state Golden is licensed.

In October 2017, Golden Entertainment acquired American Casino & Entertainment Properties for $850 million, which expanded the company's casino portfolio by four: the Stratosphere, Arizona Charlie's Boulder, Arizona Charlie's Decatur and the Aquarius Casino Resort. The following year, the company announced a $140 million renovation of the Stratosphere.

In January 2019, the company bought the Colorado Belle and Edgewater casinos in Laughlin, Nevada from Marnell Gaming (owner and operator of Nugget Casino Resort in Sparks) for $190 million. The acquisition of the Colorado Belle and Edgewater gives the company dominance in the market with three of 11 Laughlin properties, including the Aquarius.

In 2020, Golden completed a revitalization of the Stratosphere and rebranded the company as The Strat Hotel, Casino & Tower.

Golden sold the Rocky Gap Casino Resort in 2023 to Vici Properties and Century Casinos for $260 million. Also in 2023, Golden sold its Nevada and Montana slot routes to J&J Ventures.

In 2026, Golden Entertainment went private through a deal with Sartini and Vici Properties. The real estate of seven of Golden's casinos was sold to Vici in a leaseback deal for $1.16 billion, while Sartini and his family purchased the rest of the company's operating business.

From Wikipedia’s article on Golden Entertainment, shared under CC BY-SA 4.0.7

Leadership

Who has led Golden Entertainment, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Lyle Berman2006–2013
  2. Blake L. Sartini2015–now

Chair

  1. Blake L. Sartini2015–now

President

  1. Timothy J. Cope2007–2013
  2. Blake L. Sartini2015–2019
  3. Charles Protell2020–now

Chief financial officer

  1. Timothy J. Cope2007–2013
  2. Matthew W. Flandermeyer2015–2016
  3. Charles Protell2016–now

Chief operating officer

  1. Stephen A. Arcana2015–2024
2010201520202025
Board members and other officers (19)

Products and brands

Golden Casino Group

Aquarius Casino Resort — Laughlin, Nevada

Arizona Charlie's Boulder — Las Vegas, Nevada

Arizona Charlie's Decatur — Las Vegas, Nevada

Edgewater Hotel and Casino — Laughlin, Nevada

Read the full text

Gold Town Casino — Pahrump, Nevada

Lakeside Casino & RV Park — Pahrump, Nevada

Pahrump Nugget Hotel & Gambling Hall — Pahrump, Nevada

The Strat Hotel, Casino and Tower — Las Vegas, Nevada

PT's Taverns

Great American Pub

Las Vegas (3 locations)

Lucky's

Henderson (1 location)

Las Vegas (2 locations)

Reno (1 location)

PT's Gold

Henderson (5 locations)

Las Vegas (24 locations)

North Las Vegas (2 locations)

PT's Place

Las Vegas (3 locations)

PT's Pub

Henderson (1 locations)

Las Vegas (15 locations)

PT's Ranch

Las Vegas (3 locations)

Sean Patrick's

Las Vegas (2 locations)

North Las Vegas (2 locations)

SG Bar

Las Vegas (1 location)

Sierra Gold

Las Vegas (4 locations)

Henderson (1 location)

Reno (2 locations)

Former

Colorado Belle — Laughlin, Nevada

Golden Gates Casino — Black Hawk, Colorado

Golden Gulch Casino — Black Hawk, Colorado

Golden Mardi Gras Casino — Black Hawk, Colorado

Rocky Gap Resort Casino — Flintstone, Maryland

From Wikipedia’s article on Golden Entertainment, shared under CC BY-SA 4.0.7

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • 1 Golden Holdings, Inc. Nevada8
  • 10 Golden – PT’s Pub East Sahara 3, LLC Nevada8
  • 100 ACEP Interactive, LLC Nevada8
  • 101 Stratosphere Gaming LLC Nevada8
  • 102 Aquarius Gaming LLC Nevada8
  • 103 Arizona Charlie’s LLC Nevada8
  • 104 Fresca, LLC Nevada8
  • 105 Colorado Belle Gaming, LLC Nevada8
  • 106 Edgewater Gaming, LLC Nevada8
  • 107 Stratosphere Entertainment LLC Nevada8
  • 108 W2007 Stratosphere Land Propco, LLC Delaware8
  • 109 Padres Land 2017, LLC Nevada8
  • 11 Golden – PT’s Pub Summerlin 6, LLC Nevada8
  • 12 Golden – PT’s Pub West Sahara 8, LLC Nevada8
  • 13 Golden – PT’s Pub Spring Mountain 9, LLC Nevada8
  • 14 Golden – PT’s Pub Flamingo 10, LLC Nevada8
  • 15 Golden – PT’s Pub Rainbow 11, LLC Nevada8
  • 16 Golden – PT’s Pub Durango 12, LLC Nevada8
  • 17 Golden – PT’s Pub Warm Springs 13, LLC Nevada8
  • 18 Golden – PT’s Pub Winterwood 16, LLC Nevada8
  • 19 Golden – PT’s Pub Sunset-Pecos 17, LLC Nevada8
  • 2 77 Golden Gaming, LLC Nevada8
  • 20 Golden – PT’s Pub MLK 18, LLC Nevada8
  • 21 Golden – PT’s Pub Tunes 19, LLC Nevada8
All 109 listed subsidiaries
  • 22 Golden – PT’s Pub Decatur-Hacienda 20, LLC Nevada8
  • 23 Golden – PT’s Pub Decatur-Sobb 21, LLC Nevada8
  • 24 Golden – PT’s Pub Silverado-Maryland 22, LLC Nevada8
  • 25 Golden – PT’s Pub Silverado-Bermuda 23, LLC Nevada8
  • 26 Golden – PT’s Pub Sunrise 24, LLC Nevada8
  • 27 Golden – PT’s Pub Hualapai 25, LLC Nevada8
  • 28 Golden – PT’s Pub Big Game 26, LLC Nevada8
  • 29 Golden – PT’s Pub Cantina 27, LLC Nevada8
  • 3 Golden Gaming, LLC Nevada8
  • 30 Golden – PT’s Pub Fort Apache 29, LLC Nevada8
  • 31 Golden – PT’s Pub Ann 30, LLC Nevada8
  • 32 Golden – PT’s Pub Russell 31, LLC Nevada8
  • 33 Golden – PT’s Pub Centennial 32, LLC Nevada8
  • 34 Golden – PT’s Pub Horizon 33, LLC Nevada8
  • 35 Golden – PT’s Pub St. Rose 35, LLC Nevada8
  • 36 Golden – PT’s Pub Racetrack 37, LLC Nevada8
  • 37 Golden – PT’s Pub Anthem 38, LLC Nevada8
  • 38 Golden – PT’s Pub Sunset-Buffalo 39, LLC Nevada8
  • 39 Golden – PT’s Pub Triple Bar 40, LLC Nevada8
  • 4 Golden Aviation, LLC Nevada8
  • 40 Golden – PT’s Pub Desert Inn 42, LLC Nevada8
  • 41 Golden – O’Aces Bar Post 47, LLC Nevada8
  • 42 Golden – PT’s Pub Foothills 48, LLC Nevada8
  • 43 Golden – PT’s Pub Whitney Ranch 51, LLC Nevada8
  • 44 Golden – PT’s Pub Molly Malone’s 53 LLC Nevada8
  • 45 Golden – PT’s Pub Kavanaugh’s 54 LLC Nevada8
  • 46 Golden – PT’s Pub Sean Patrick’s 55 LLC Nevada8
  • 47 Golden – PT’s Pub Morrissey’s 56 LLC Nevada8
  • 48 Golden – PT’s Pub Fireside 59 LLC Nevada8
  • 49 Golden – PT’s Pub Mountainside 60 LLC Nevada8
  • 5 Golden Pahrump Nugget, LLC Nevada8
  • 50 Golden – PT’s Pub Oyster 61 LLC Nevada8
  • 51 Golden – PT’s Pub Beano’s 62 LLC Nevada8
  • 52 Golden – PT’s Pub Brew 63 LLC Nevada8
  • 53 Golden – PT’s Pub Ranch 64 LLC Nevada8
  • 54 Golden – PT’s BWS 65, LLC Nevada8
  • 55 Golden – PT’s SRD 66 LLC Nevada8
  • 56 Golden – PT’s Oso Blanca 67 LLC Nevada8
  • 57 Golden – PT’s El Capitan 68 LLC Nevada8
  • 58 Golden – PT’s West Martin 69 LLC Nevada8
  • 59 Golden – PT’s Huntington Cove 70 LLC Nevada8
  • 6 Golden Pahrump Town, LLC Nevada8
  • 60 Golden – PT’s GVHR 71, LLC Nevada8
  • 61 Golden – PT’s Peccole Sahara 72, LLC Nevada8
  • 62 Golden – PT’s Decatur 73 LLC Nevada8
  • 63 Golden – PT’s Buffalo-Blue Diamond 74 LLC Nevada8
  • 64 Golden – PT’s LV Cactus 75 LLC Nevada8
  • 65 Golden – PT’s Maule 76 LLC Nevada8
  • 66 Golden – PT’s Ann 77 LLC Nevada8
  • 67 Golden – PT’s Lindell-Blue Diamond 78 LLC Nevada8
  • 68 Golden – PT’s Warm Springs 79 LLC Nevada8
  • 69 Golden - PT’s Desert Breeze 80, LLC Nevada8
  • 7 Golden Pahrump Lakeside, LLC Nevada8
  • 70 Golden - PT’s Buffalo-Badura 81, LLC Nevada8
  • 71 Lucky’s 1 Farm 82, LLC Nevada8
  • 72 Lucky’s 2 Jones 83, LLC Nevada8
  • 73 Lucky’s 3 Maryland 84, LLC Nevada8
  • 74 Lucky’s 4 Prater 85, LLC Nevada8
  • 75 Golden - PT’s Cadence Sunset 85, LLC Nevada8
  • 76 Golden GAP Grand Canyon 86, LLC Nevada8
  • 77 Golden GAP Eastern 87, LLC Nevada8
  • 78 Golden – PT’s Pub Fort Apache-Pebble 89, LLC Nevada8
  • 79 Golden – Sierra Gold Double R 1, LLC Nevada8
  • 8 Golden Tavern Group, LLC Nevada8
  • 80 Golden – Sierra Junction Double R 2, LLC Nevada8
  • 81 Golden RR Eastern 3, LLC Nevada8
  • 82 Sierra Gold Jones 3, LLC Nevada8
  • 83 Sierra Gold Buffalo 4, LLC Nevada8
  • 84 Sierra Gold Stephanie 5, LLC Nevada8
  • 85 Sierra Gold Aliante 6, LLC Nevada8
  • 86 Sierra Gold Flamingo 7 LLC Nevada8
  • 87 Sierra Gold Eastern 8 LLC Nevada8
  • 88 Lakes Gaming and Resorts, LLC Minnesota8
  • 89 Lakes Game Development, LLC Minnesota8
  • 9 Golden – PT’s Pub Stewart-Nellis 2, LLC Nevada8
  • 90 Lakes Nipmuc, LLC Minnesota8
  • 91 Lakes Jamul, Inc. Minnesota8
  • 92 Lakes Shingle Springs, Inc. Minnesota8
  • 93 Lakes Pawnee Consulting, LLC Minnesota8
  • 94 Lakes Maryland Development, LLC Minnesota8
  • 95 Lakes Kean Argovitz Resorts California, L.L.C. Delaware8
  • 96 Lakes KAR Shingle Springs, L.L.C. Delaware8
  • 97 Golden Casinos Nevada LLC Nevada8
  • 98 ACEP Advertising Agency LLC Delaware8
  • 99 Stratosphere Leasing, LLC Delaware8

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • GOLDEN ENTERTAINMENT, INC.Aug 4, 2015 to Apr 30, 20266
  • LAKES ENTERTAINMENT INCAug 7, 2002 to Jul 30, 20156
  • LAKES GAMING INCOct 23, 1998 to May 31, 20026

Timeline

  1. Apr 30, 20268-K Ended a material agreement; Completed an acquisition or sale; Listing notice or transfer43
  2. Apr 23, 20268-K Other events44
  3. Apr 1, 20268-K Shareholder vote; Regulation FD disclosure45
  4. Feb 27, 20268-K Results of operations46
  5. Nov 7, 20258-K Entered a material agreement47
  6. Nov 6, 20258-K Regulation FD disclosure48
  7. Nov 6, 20258-K Results of operations49
  8. Aug 7, 20258-K Results of operations50
  9. May 23, 20258-K Executive or director change; Shareholder vote51
  10. May 8, 20258-K Results of operations52
  11. Mar 18, 20258-K Executive or director change53
  12. Feb 27, 20258-K Results of operations54
  13. Aug 4, 2015New chief executive Blake L. Sartini becomes CEO19
  14. Aug 4, 2015Went public Listed on NASDAQ1
  15. Aug 3, 2015Founded Founded1
  16. Mar 21, 2006New chief executive Lyle Berman becomes CEO20

Calendar

When it reported results

  1. Feb 27, 2026Reported quarterly or annual results46
  2. Nov 6, 2025Reported quarterly or annual results49
  3. Aug 7, 2025Reported quarterly or annual results50
  4. May 8, 2025Reported quarterly or annual results52
  5. Feb 27, 2025Reported quarterly or annual results54
  6. Nov 7, 2024Reported quarterly or annual results55
  7. Aug 8, 2024Reported quarterly or annual results56
  8. May 8, 2024Reported quarterly or annual results57

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

228 filings to the SEC since October 2021: 6 annual reports, 13 quarterly reports, 41 major events, 78 insider forms, 21 large holders, 69 other. The latest 20:

  1. May 11, 202615-12G EDGAR
  2. May 4, 2026EFFECT EDGAR
  3. May 4, 2026EFFECT EDGAR
  4. May 4, 2026EFFECT EDGAR
  5. May 4, 2026EFFECT EDGAR
  6. May 4, 2026EFFECT EDGAR
  7. May 4, 2026SCHEDULE 13D/A EDGAR
  8. Apr 30, 20264 EDGAR
  9. Apr 30, 20264 EDGAR
  10. Apr 30, 20264 EDGAR
  11. Apr 30, 20264 EDGAR
  12. Apr 30, 20264 EDGAR
  13. Apr 30, 202625-NSE EDGAR
  14. Apr 30, 20264 EDGAR
  15. Apr 30, 2026POS AM EDGAR
  16. Apr 30, 2026POS AM EDGAR
  17. Apr 30, 2026POS AM EDGAR
  18. Apr 30, 2026POS AM EDGAR
  19. Apr 30, 2026POS AM EDGAR
  20. Apr 30, 2026POSASR EDGAR

The 228 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

20 open-market trades by officers, directors and large owners since October 2021: 1 buys and 19 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Mar 13, 2025Sartini Blake L IIEVP of OperationsSale23,979$25.87$620.3KForm 4
Dec 20, 2024Wright TerrenceDirectorSale16,586$31.26$518.5KForm 4
Sep 20, 2024LIPPARELLI MARK ADirectorSale10,000$32.11$321.1KForm 4
Sep 19, 2024LIPPARELLI MARK ADirectorSale773$33.32$25.8KForm 4
Dec 21, 2023Protell CharlesPresident and CFOSale8,910$39.83$354.9KForm 4
Dec 20, 2023Protell CharlesPresident and CFOSale13,557$41.42$561.5KForm 4
Dec 19, 2023Protell CharlesPresident and CFOSale12,285$40.09$492.5KForm 4
Dec 18, 2023Protell CharlesPresident and CFOSale10,104$41.00$414.3KForm 4
Oct 12, 2023Arcana StephenEVP and COOSale62$35.00$2.2KForm 4
Apr 6, 2023Arcana StephenEVP and COOSale13,672$42.01$574.4KForm 4
Apr 5, 2023Arcana StephenEVP and COOSale11,328$42.01$475.9KForm 4
Oct 6, 2022Arcana StephenEVP and COOSale12,500$38.49$481.1KForm 4
Oct 5, 2022Arcana StephenEVP and COOSale12,500$37.96$474.5KForm 4
Mar 2, 2022Arcana StephenEVP and COOSale16,372$54.37$890.1KForm 4
Mar 2, 2022SARTINI BLAKE LChairman and CEOSale75,000$55.32$4.1MForm 4
Mar 1, 2022Arcana StephenEVP and COOSale17,000$54.83$932.1KForm 4
Mar 1, 2022SARTINI BLAKE LChairman and CEOSale78,871$55.10$4.3MForm 4
Feb 28, 2022SARTINI BLAKE LChairman and CEOSale168,129$56.79$9.5MForm 4
Feb 24, 2022SARTINI DELISE F10% ownerSale600,000$46.30$27.8MForm 4
Nov 8, 2021Wright TerrenceDirectorBuy14,630$51.38$751.7KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2024Blake L. Sartini66$1.1M$5.4M66
2024Charles H. Protell50$785.0K$3.3M66
2024Stephen A. Arcana$591.9K$2.3M66
2024Blake L. Sartini II66$532.1K$1.8M66
2024Thomas E. Haas$300.0K$620.6K66
2023Chief Executive Officer and$1.1M$6.1M66
2023President and Chief Financial$785.0K$3.6M66
2023Former Chief Development$630.0K$2.9M66
2023Executive VicePresident and$474.0K$1.8M66
2023Former Senior VicePresident$300.0K$705.8K66
2022Chairman of the Board of Directors$1.0M$6.2M66
2022Officer$775.6K$3.6M66
2022Chief Operating Officer$443.3K$1.8M66
2022and Chief Accounting Officer$293.3K$733.4K66

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Huntington National Bank1$290.0%No change

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

1 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Mar 14, 2025Susie LeeDemocratic, HouseSale$1,001 - $15,000Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

SEC filer profile

How Golden Entertainment is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARNEW ROYAL HOLDCO I INC.2
  • CIK0001071255
  • Employer ID (EIN)41-191399118
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company18
  • Incorporated inMinnesota18
  • Fiscal year endsDecember 312
  • Industry code (SIC)7990 Services-Miscellaneous Amusement & Recreation2
  • SEC reviewing officeOffice of Trade & Services, Division of Corporation Finance2
  • Business address535 Madison Avenue, New York, NY 100222
  • Phone64694946312
  • Shares outstanding26,199,079 shares as of Feb 17, 202618
  • Public float$563.8M as of Jun 30, 202518
  • AuditorDeloitte & Touche LLP, Las Vegas, NV PCAOB ID 34; it also attests to the company’s internal control over financial reporting18
  • On EDGAR sinceOct 23, 19982
  • Filings1,179 in all: 8-K (420), 4 (290), 10-Q (81), SC 13G/A (34), CORRESP (27), 10-K (26), DEF 14A (26), DEFA14A (26)2
    All 56 form types

    3 (25), UPLOAD (24), SC 13G (23), SC 13D/A (17), 4/A (14), 144 (12), 5 (10), EFFECT (10), S-8 (8), S-8 POS (8), 8-K/A (7), 10-K/A (6), ARS (6), S-3/A (6), POS AM (5), S-3 (5), SC 13D (5), NT 10-Q (4), PRE 14A (4), PRER14A (4), SC 13E3/A (4), SCHEDULE 13G/A (4), 10-Q/A (3), 8-A12G/A (3), SC TO-I/A (3), SCHEDULE 13D/A (3), 10-K405 (2), 424B5 (2), DEFM14A (2), PREM14A (2), 10-12G (1), 15-12G (1), 25-NSE (1), 3/A (1), 424B3 (1), 425 (1), 8-A12G (1), CT ORDER (1), D (1), NT 10-K (1), POSASR (1), REGDEX (1), S-3ASR (1), SC 13E3 (1), SC TO-C (1), SC TO-I (1), SCHEDULE 13D (1), SCHEDULE 13G (1)

  • Latest filingsAnnual report (10-K) Feb 27, 2026
    Quarterly report (10-Q) Nov 6, 2025
    Proxy statement (DEF 14A) Apr 9, 2025
    Latest 8-K (8-K) Apr 30, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, $0.01 par valueGDENThe Nasdaq Stock Market LLC

From the cover page of the 10-K filed Feb 27, 2026 (Section 12(b) of the Exchange Act).18

Risk factors and legal proceedings

The risks Golden Entertainment names in Item 1A of its 10-K filed Feb 27, 2026: 27 risks under these headings, as written.18

  • Risks Related to Our Business and Operations
  • The Sale Transaction remains subject to the satisfaction of certain closing conditions, including the receipt of regulatory and shareholder approvals, and any anticipated benefits from such transaction may take longer to realize than expected or may not be realized at all.
  • Our business may be adversely affected by economic conditions, acts of terrorism, natural disasters, severe weather, contagious diseases and other factors affecting discretionary consumer spending, any of which could have a material adverse effect on our business.
  • We face substantial competition in our business segments and may lose market share.
  • The casino, hotel and hospitality industry is capital intensive and we may not be able to finance development, expansion and renovation projects, which could put us at a competitive disadvantage.
  • Changes to gaming tax laws could increase our cost of doing business and have a material adverse effect on our financial condition.
  • Any violation of applicable anti-money laundering laws or regulations or the Foreign Corrupt Practices Act could adversely affect our business, financial condition, results of operations and prospects.
  • We are subject to numerous other federal, state and local laws that may expose us to liabilities or have a significant adverse impact on our operations. Changes to any such laws could have a material adverse effect on our operations and financial condition.
  • Our insurance coverage may not be adequate to cover all possible losses that our business could suffer. In addition, our insurance costs may increase and we may not be able to obtain the same insurance coverage in the future.
  • Work stoppages, labor problems and unexpected shutdowns may limit our operational flexibility and negatively impact our future profits.
  • Our reputation and business could be materially harmed as a result of data breaches, data theft, unauthorized access or cybersecurity incidents.
  • Our revenues may be negatively impacted by volatility in our hold percentage, and we also face the risk of fraud or cheating.
The other 16 risks
  • Our business is geographically concentrated, which subjects us to greater risks from changes in local or regional conditions.
  • We may be subject to litigation which, even if without merit, can be expensive to defend and could expose us to significant liabilities, damage our reputation and result in substantial losses.
  • We depend on a limited number of key employees who would be difficult to replace.
  • We may experience seasonal fluctuations that could significantly impact our quarterly operating results.
  • We may be subject to risks arising from climate-related matters.
  • Increasing prices or shortages of energy and water may increase our cost of operations.
  • From time to time, we may make strategic acquisitions; any failure to successfully integrate our businesses and businesses we acquire could materially adversely affect our business, and we may not realize the full benefits of our strategic acquisitions.
  • Risks Related to Our Indebtedness
  • Our indebtedness could adversely affect our financial health and prevent us from fulfilling our obligations.
  • Covenants in our debt instruments restrict our business and could limit our ability to implement our business plan.
  • We may incur additional indebtedness, which could further increase the risks associated with our leverage.
  • Our variable rate indebtedness subjects us to interest rate risk, which could cause our debt service obligations to increase significantly.
  • Risks Related to Share Ownership and Shareholder Matters
  • Our executive officers and directors own or control a large percentage of our common stock, which permits them to exercise significant control over us.
  • Our shareholders are subject to extensive governmental regulation and, if a shareholder is found unsuitable by a gaming authority, that shareholder would not be able to beneficially own our common stock directly or indirectly. Our shareholders may also be required to provide information that is requested by gaming authorities and we have the right, under certain circumstances, to redeem a shareholder’s securities; we may be forced to use our cash or incur debt to fund redemption of our securities.
  • Our stock price may continue to be volatile.
  • Future sales of our common stock could lower our stock price and dilute existing shareholders.
  • Provisions in our Articles of Incorporation and Bylaws or our debt facilities may discourage, delay or prevent a change in control or prevent an acquisition of our business at a premium price.

Legal proceedings

A discussion of our legal proceedings is contained in “Note 13 — Commitments and Contingencies” in Part II, Item 8: Financial Statements and Supplemental Data of this Annual Report.

The opening of Item 3, Legal Proceedings.18

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