LAS VEGAS – August 7, 2025 – Golden Entertainment, Inc. (NASDAQ: GDEN) (“Golden Entertainment” or the “Company”) today reported financial results for the second quarter ended June 30, 2025.

The Company reported second quarter 2025 revenues of $163.6 million, compared to revenues of $167.3 million for the second quarter of 2024. Net income for the second quarter of 2025 was $4.6 million, or $0.17 per fully diluted share, compared to net income of $0.6 million, or $0.02 per fully diluted share, for the second quarter of 2024. Second quarter 2025 Adjusted EBITDA was $38.4 million, compared to Adjusted EBITDA of $41.2 million for the second quarter of 2024.

The Company paid a quarterly cash dividend of $0.25 per share on July 9, 2025. On August 5, 2025, the Company’s Board of Directors authorized the Company’s next recurring quarterly cash dividend of $0.25 per share of the Company’s outstanding common stock payable on October 3, 2025 to shareholders of record as of September 25, 2025.

The Company repurchased 514,150 shares of its common stock in the second quarter of 2025 at an average price of $28.47 per share for a total of $14.6 million. As of June 30, 2025, the Company had $77.2 million remaining under its share repurchase authorization.

As of June 30, 2025, the Company’s total principal amount of debt outstanding was $436.9 million, consisting primarily of $392 million in outstanding term loan borrowings and $40 million in outstanding borrowings under the Company’s revolving credit facility.

As of June 30, 2025, the Company had cash and cash equivalents of $52.3 million and $200 million of remaining availability under its revolving credit facility.

The Company will host a webcast and conference call today, August 7, 2025, at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time), to discuss the 2025 second quarter results. The conference call may be accessed live over the phone by dialing (800) 715-9871 or for international callers by dialing (646) 307-1963; the conference ID is 5455274. A replay will be available beginning at 7:00 pm ET today and may be accessed by dialing (800) 770-2030 or (609) 800-9909 for international callers; the passcode is 5455274#. The telephone replay will be available until August 14, 2025. The call will also be webcast live through the “Conference Calls” section of the Company’s website, https://www.goldenent.com/conference-calls.php. A replay of the audio webcast will also be available under the same link on the Company’s website beginning at 7:00 pm ET.

This press release contains forward-looking statements regarding future events and the Company’s future results that are subject to the safe harbors created under the Securities Act of 1933 and the Securities Exchange Act of 1934.

Forward-looking statements can generally be identified by the use of words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “project,” “potential,” “seek,” “should,” “think,” “will,” “would” and similar expressions, or they may use future dates. In addition, forward-looking statements in this press release include, without limitation statements regarding: the Company’s strategies, objectives, business opportunities and plans; anticipated future growth and trends in the Company’s business or key markets and business outlook; return of capital to shareholders (including through the payment of recurring quarterly cash dividends or repurchase of shares of the Company’s common stock); projections of future financial condition, operating results or other financial items; and other characterizations of future events or circumstances as well as other statements that are not statements of historical fact. Forward-looking statements are based on the Company’s current expectations and assumptions regarding its business, the economy and other future conditions. These forward-looking statements are subject to assumptions, risks and uncertainties that may change at any time, and readers are therefore cautioned that actual results could differ materially from those expressed in any forward-looking statements. Factors that could cause the actual results to differ materially include: changes in national, regional and local economic and market conditions; legislative and regulatory matters; increases in gaming taxes and fees in the jurisdictions in which the Company operates; litigation; increased competition; reliance on key personnel; the Company’s ability to comply with covenants in its debt instruments; terrorist incidents; natural disasters; severe weather conditions; the effects of environmental and structural building conditions; the effects of disruptions to the Company’s information technology and other systems and infrastructure; factors affecting the gaming, entertainment and hospitality industries generally; and other risks and uncertainties discussed in the Company’s filings with the SEC, including the “Risk Factors” sections of the Company’s most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. The Company undertakes no obligation to update any forward-looking statements as a result of new information, future developments or otherwise. All forward-looking statements in this press release are qualified in their entirety by this cautionary statement.

To supplement the Company’s consolidated financial statements presented in accordance with United States generally accepted accounting principles (“GAAP”), the Company uses Adjusted EBITDA because it is the primary metric used by its chief operating decision maker and investors in measuring both the Company’s past and future expectations of performance. Adjusted EBITDA provides useful information to the users of the Company’s financial statements by excluding specific expenses and gains that the Company believes are not indicative of its core operating results. Further, the Company’s annual performance plan used to determine compensation for its executive officers and employees is tied to the Adjusted EBITDA metric. It is also a measure of operating performance widely used in the gaming industry. The presentation of this additional information is not meant to be considered in isolation or as a substitute for measures of financial performance prepared in accordance with GAAP. In addition, other companies in the gaming industry may calculate Adjusted EBITDA differently than the Company does.

The Company defines “Adjusted EBITDA” as earnings before depreciation and amortization, non-cash lease benefit or expense, share-based compensation expense, gain or loss on disposal of assets and businesses, loss on debt extinguishment and modification, preopening and related expenses, impairment of assets, interest, income taxes, and other non-cash charges and non-recurring expenses that are deemed to be not indicative of the Company’s core operating results.

Golden Entertainment operates a diversified entertainment platform of gaming and hospitality assets. The Company operates eight casinos and 72 gaming taverns in Nevada, featuring approximately 5,500 slots, 100 table games and 6,000 hotel rooms. For more information, visit www.goldenent.com.

(1)System implementation costs represent expenses related to the implementation of new enterprise resource planning, finance, payroll and human capital management software.