Golden Entertainment Considering Options for Closed Laughlin Riverfront Casino

Golden Entertainment’s (NASDAQ:GDEN) Colorado River Belle Casino Resort inwards Laughlin, Silver State is approaching 30 months inwards closure. The operator is mulling options for the venue.

In response to a enquiry from B. James Whitcomb Riley analyst Saint David Bain, Golden CEO Blake Sartini addressed the thing before this calendar week on the company’s second-quarter earnings group discussion call. The chief executive director officer noted the manipulator is maintaining the gaming license for the riverfront casino-hotel patch “exploring group A to zed opportunities for that piece of property.”

The way i survey that mastered there is i suppose that marketplace at some dot could usage a important traffic driver,” Sartini on the call. “I think the mental ability that we currently feature with the rooms and the casino stock-taking is sufficient for what we view sledding forwards knock down there.”

Golden operates the Aquarius and Edgewater gaming venues in Laughlin. That puts it inwards competition with Caesars Entertainment (NASDAQ:CZR) as the dominant gambling casino epithet inwards that city.

Colorado Belle Is Unique Venue

Closed during the ahead of time days of the coronavirus pandemic inward 2020, Colorado Belle sits along the Colorado River and embraced that location, sporting a riverboat theme.

Though non only object lens on the matter, Sartini describes the casino-hotel as “a one-of-a-kind piece of property” that offers strong maturation prospects and visibleness inward the Laughlin market.

That doesn’t necessarily mean value Golden testament hasten to reopen the venue. Battle Born State operators with multiple venues in single markets realized they could make more with less. For example, Red Rock Resorts’ (NASDAQ:RRR) is permanently closing Fiesta Henderson, Fiesta Rancho, and Lone-Star State Station inward the Las Vegas area.

Likewise, Boyd Gaming (NYSE:BYD) appears unlikely to reopen Eastside Cannery. Golden could use up a pageboy from those playbooks and apply it to Colorado River Belle, in particular because the operator’s other Laughlin venues are thriving.

Golden Has Options for Centennial State Belle

As holder of the gaming permit and proprietor of the existent estate, Golden holds all the cards when it comes to CO Belle’s future.

The manipulator could demolish the venue, turn of events it into a non-gaming venue, or sell it to a competitor, though none of those ideas were specifically mentioned on the group discussion call.

“I regard that (Colorado Belle) as a worthful asset in close-fitting proximity to our II assets, which are the topper located inwards the marketplace that put up be utilized, i think, to take additional traffic,” noted Sartini.

Obviously, Laughlin isn’t Las Vegas. But the former could follow appealing to a smaller gaming getup looking for to supply Sagebrush State exposure. Likewise, Golden could ascertain value inward eventually reopening Centennial State Belle.

Heading into Golden’s to the highest degree recent earnings report, “Investors were concerned with Laughlin trends granted pressures from higher gaseous state prices. This drive-to market largely targets tourists from SoCal, Arizona and Las Vegas, thusly higher gas prices step-up costs to attain the destination. Despite industry visitation/GGR push down 4%/5% YoY inwards 2Q, GDEN’s properties gained securities industry deal as a full schedule of concerts/events helped get visitation and non-gaming revenue,” said Roth Washington analyst Prince Edward Engel inward a recent client note.

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