Reports Q4 revenue $279.7M, consensus $278.0M. Blake Sartini, CEO, commented, "Our fourth quarter demonstrates strong financial performance that remains well above 2019 levels, while higher labor and other costs impacted the comparison to last year’s fourth quarter results. For the second consecutive year, our total annual revenue exceeded $1 billion and our operating discipline continues to support the significant margin improvement we have achieved leading to a 45% increase in full year Adjusted EBITDA compared to 2019. Our business trends to start this year are encouraging, and we anticipate capitalizing on the strength of Las Vegas in 2023 and beyond. We expect the sale of Rocky Gap Casino Resort to close in the second quarter of 2023, which will provide meaningful liquidity that combined with our free cash flow will position us to maintain low leverage, invest in our owned properties, and accelerate capital returns to shareholders."
Published first on TheFly
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