Golden Entertainment

GDEN · NASDAQ

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GDEN analyst rating

HoldConsensus of 3 analysts over the last 12 months. 0% rate it a buy.

Strong buy0
Buy0
Hold3
Underperform0
Sell0

12-month price target · 8 analysts

Average $32.13

Low: $30.30
High: $38.85

Upgrades and downgrades

The latest rating actions, newest first

GDEN analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Truist Securities	Nov 7, 2025	Maintains	Hold	$25.00 → $30.00	39%
Citizens	Nov 7, 2025	Downgrade	Market Outperform → Market Perform	—	31%
Wells Fargo	Nov 6, 2025	Downgrade	Overweight → Equal-Weight	$34.00 → $30.00	18%
Truist Securities	Oct 21, 2025	Maintains	Hold	$30.00 → $25.00	39%

The case for and against

Updated Jan 26, 2026

Bull case

Golden Entertainment Inc. has demonstrated strong financial performance in its Nevada Locals Casinos segment, achieving a 7% year-over-year increase in EBITDA and a notable 170 basis point expansion in EBITDA margin to 46%. Management has highlighted the continuation of positive trends into the third quarter and anticipates further benefits from new tax legislation scheduled for 2026. Additionally, the company's ongoing share repurchase program, which totaled $15 million in the second quarter, reflects a commitment to enhancing shareholder value amidst a favorable economic outlook for the southern Nevada gaming market.

Bear case

Golden Entertainment Inc. experienced a notable decline in its financial performance, particularly within its Tavern business, where 2Q revenues and EBITDA fell by 7% and 25% year-over-year, respectively. Furthermore, at the STRAT, occupancy rates plummeted to 60%, reflecting a significant year-over-year drop of 1,600 basis points, even as EBITDA only declined by 5% due to mitigation strategies. Overall, the company's reported 2Q revenues and EBITDA of $163 million and $38.4 million represented decreases of 2% and 7% year-over-year, falling short of consensus estimates by 2% and 1%, respectively, which underscores the challenges currently facing the business.

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