Casino, restaurant, and hospitality operator Golden Nugget LLC has reported its financial results for the second quarter and first half of 2021, declaring revenue improvements year-on-year in both financial measuring periods.
The operator cited revenue of $934.5m for Q2 2021, a 224.4% increase compared to $288m during Q2 2020. Revenue for H1 2021 grew by 49.6% to $1.577bn compared to $1.054bn during H1 2020.
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 was $158.5m, an improvement on the net loss of $184.3m during the same period last year. 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.
Chairman and CEO Tilman Fertitta commented: “We continue to perform at a very high level and are very pleased with the second quarter results. 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.”