Golden Nugget LLC continues to perform at a “very high level” as it publishes its financial results for the second quarter and first half of 2021.
Declaring revenue improvements year-on-year in both financial measure periods, the operator reported a revenue of $934.5m for Q2 2021, an increase of 224.4 per cent compared to the same period last year of $288m.
Moreover, Golden Nugget’s revenue for H1 2021 grew by 49.6 per cent to $1.477bn compared to $1.054bn during H1 2020.
“We continue to perform at a very high level and are very pleased with the second quarter results,” noted chairman and CEO, Tilman Fertitta. “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.”
Net income for Q2 2021 was $144.3m, up from the net loss of $152.7m in the previous year. Net income for Q2 includes a gain on disposal of assets associated with Hurricane Laura of $19.9m compared to a loss of $3.4m in the previous year. Both are excluded from adjusted EBITDA.
Net income for H1 2021 stood at $158.5m – an improvement compared to 2020 which saw a net loss of $184.3m. Net income for H1 includes a gain on disposal of assets of $21.6m compared to a gain of $5m in the previous year. Both are excluded from adjusted EBITDA.
Adjusted EBITDA for Q2 2021 was $283.7m, compared to a loss of $26.1m in Q2 2020. H1 2021 adjusted EBITDA came in at $418.7m, compared to $47.5m in H1 2020.