Golden Entertainment, Inc. (NASDAQ:GDEN) Q3 2023 Earnings Call Transcript

It has been. But again, it’s going to ebb and flow with citywides, but that trend line is going to be on an upward trajectory we’re pretty confident without disruption. One other metric I think is important in that, John, is when we first took over the property, we were dependent upon OTAs, OTA booking about 80% of our occupancy at the property when we bought it. That number is down to approximately 65%. So, we’re dependent about — we’ve improved our dependence, if you will, on the OTAs by a pretty significant amount. And we want to see that continue, which gives us more opportunity to control our own destiny in terms of rate and the type of customer you drive to the property. So, with all of those things moving in the right direction, we’re very bullish on what we think that property can produce in the future.

John DeCree: Thanks, Blake. I think you took my follow-up there on OTA mix. So, maybe I’ll look into November a couple of weeks away from F1. There hasn’t been that much discussion this quarter with your peers. But as we kind of look at that as being a major event for the city or you still feel good about that? And given your position on the strip and even locals, is that still a net positive impact? Or as we get closer, can you give us a little bit of extra color as to how you’re thinking about that event for you?

Blake Sartini: Yes. Clearly, it’s going to be additive for the city and waterfall to us is going to be additive as well. I don’t — we’re seeing it migrate to a very much of a high end event and a south strip event in terms of where the magnitude of the effect will be. But that tail effect, that waterfall effect will raise all ships certainly during that time frame. And beyond that, you have New Year’s and beyond that, you have Super Bowl, which, by the way, there’s a much more robust sell for us right now in terms of rate and demand than F1 is currently. So that’s even better news for the next couple of months. But certainly, F1 is going to provide a lift.

John DeCree: That’s helpful. Thanks, Blake. Thanks, Charles. Congratulations on the quarter.

Charles Protell: Thanks, John.

Blake Sartini: Thank you.

Operator: This concludes our question-and-answer session. I would like to turn the conference over to Charles Protell for any closing remarks.

Charles Protell: Thanks all for joining. We’ll talk to you at the next quarterly call.

Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.