Golden Entertainment posts $3M loss for quarter
Golden Entertainment booked a $3 million quarterly loss, citing softerthan-expected results at the Stratosphere and neighborhood gambling spots.
The Las Vegas-based company — which operates casinos, the PT’S Pub chain and a network of slot and video poker machines in bars, grocery stores and other locations — on Thursday reported a $3.1 million loss for the three months that ended Sept. 30.
That’s compared with a profit of about $8.5 million for the same period last year.
Revenue almost doubled to
$210.3 million last quarter, and expenses nearly doubled to $200.6 million, but Golden also reported
$16.3 million in interest expenses that ate away at its bottom line.