Golden Entertainment, Inc. (NASDAQ:GDEN) Q4 2018 Earnings Conference Call Transcript
Mar 14, 2019 • 05:00 pm ET
Good afternoon, ladies and gentlemen, thank you for standing by. Welcome to the Golden Entertainment Fourth Quarter 2018 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal remarks. Please note that this call is being recorded today, March 14, 2019. Now I'd like to turn the conference over to Joe Jaffoni, Investor Relation please go ahead, sir.
Thank you very much, Chelsie, and good afternoon, everyone. By now everyone should have access to the fourth quarter 2018 earnings release, which can be found on the Company's website at www.goldenent.com under the Investors section.
Before we begin our formal remarks, we need to remind everyone that today's discussion will include forward-looking statements within the meaning of the federal securities laws. These forward-looking statements, which are usually identified by the use of words such as will, expect, believe, anticipate, should or other similar phases are not guarantees of future performance. These statements are subject to numerous risks and uncertainties that could cause actual results to differ materially from our corporate working statements, and therefore you should exercise caution in interpreting and relying on them. We refer you to the risk factors in our recent SEC filings, including our most recent Form 10-K as updated by our subsequent quarterly reports on Form 10-Q for a more detailed discussion of the risks that could impact our future operating results and financial condition and other forward-looking statements.
During today's call, we will discuss non-GAAP financial measures which management uses and believes are useful in evaluating the Company's operating performance. These measures should not be considered in isolation or as a substitute for our financial results prepared in accordance with GAAP. A reconciliation of these measures to the most directly comparable GAAP measure is available in our fourth quarter 2018 earnings release.
Golden also provided a supplementary information accompanying the earnings release, pro forma income statements for the fourth quarter and full year period ended December 31, 2017 for Golden and American Entertainment,
On the call today is Blake Sartini, the Company's Founder, Chairman, President and Chief Executive Officer; and Charles Protell, the Company's Chief Strategy Officer and Chief Financial Officer. Charles will review the quarterly results, Blake will review recent strategic and operating initiatives, and after that we'll open the call to the questions. With that, it's my pleasure to turn the call over to Charles Protell. Charles?
Thanks, Joe. For the fourth quarter, total revenues were $210.1 million, up 2.5% versus the prior year on a combined basis of American casinos. Adjusted EBITDA for the quarter was up 1.9% to $34.4 million on a combined basis compared with $33.8 million in the prior year. As we review the segments, I will provide comments around challenges in some of our businesses in Q4 and the steps we are taking to improve future results.
For Nevada Casinos, fourth quarter revenue was $107.9 million, up 0.9% from the prior year on a same-property basis while adjusted EBITDA