Services-Miscellaneous Amusement & RecreationIFRS · EUR

New Royal Holdco I Inc.

NEW ROYAL HOLDCO I INC. is a U.S.-based entertainment and gaming company that owns and operates casino resorts, locals casinos, and branded taverns in Nevada. Its business combines slot gaming, hotel and resort amenities, food and beverage service, and neighborhood tavern operations focused on local patrons.

Liikevaihto635milj. EUR
−4,8 %v/v
Liikevoitto (EBIT)21,5milj. EUR
−80,8 %v/v
EBIT-marginaali3,4%
−13,4 %-yks.v/v
Nettotulos−6,0milj. EUR
−111,9 %v/v
Vapaa kassavirta35,6milj. EUR
−16,2 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2020–2025

−25002505007501 0001 250milj. EUR2020: 694 milj. EUR2020: EBIT −67 milj. EUR20202021: 1 097 milj. EUR2021: EBIT 166 milj. EUR20212022: 1 122 milj. EUR2022: EBIT 148 milj. EUR20222023: 1 053 milj. EUR2023: EBIT 399 milj. EUR20232024: 667 milj. EUR2024: EBIT 112 milj. EUR20242025: 635 milj. EUR2025: EBIT 22 milj. EUR202563522
LiikevaihtoLiikevoitto (EBIT)

Liiketoiminta

Osuus liikevaihdosta
Nevada Casino Resorts45 %

Full-service casino resort properties offering gaming, rooms, dining, entertainment, and promotions.

Nevada Locals Casinos25 %

Neighborhood casino properties serving local customers with gaming and convenience-oriented amenities.

Nevada Taverns30 %

Branded taverns that combine food, beverages, and limited slot-machine gaming for local patrons.

Asiakkaat

The company serves local Nevada patrons, regional visitors, and neighborhood gaming customers who prefer convenient entertainment venues. Its taverns attract younger local customers seeking casual food, drinks, and gaming, while its casino resorts target guests looking for a broader destination experience.

Local Nevada gaming patrons

Buy gaming and convenience-oriented entertainment at locals casinos and taverns because the venues are close to home and easy to visit.

Casino resort visitors

Buy resort gaming, hotel stays, dining, and entertainment at destination properties in Nevada.

Tavern food-and-beverage customers

Buy casual dining, craft beer, and alcoholic beverages at branded taverns, with gaming as an added draw.

Slot-machine players

Use the company’s gaming floor and tavern slot offerings for recurring local entertainment and wagering.

Strategia

The company’s strategy centers on operating a diversified Nevada entertainment platform across resort casinos, locals casinos, and branded taverns. It emphasizes local customer retention, brand recognition, and selective expansion through property maintenance, acquisitions, and opportunistic market entry when licensing and financing allow.

Strengthen Nevada operating platformKeskipitkä aikaväli

A concentrated local footprint allows the company to build brand familiarity and operating leverage in its core market.

Grow tavern and neighborhood gaming presenceKeskipitkä aikaväli

Taverns diversify the customer base and provide a more convenient entertainment format for local patrons.

Maintain and refresh propertiesLyhyt aikaväli

Refurbishment and maintenance support guest appeal, regulatory compliance, and asset longevity.

Maantiede

The business is concentrated in Nevada, with headquarters in Las Vegas and operations centered in the greater Las Vegas metropolitan area. Its footprint includes eight casino properties in Nevada and 72 branded taverns, making the company highly dependent on local market conditions, tourism flows, and access to the Las Vegas region.

Riskit

The company is exposed to intense competition in Nevada gaming and to demand swings tied to local economic conditions, travel access, and consumer spending. Its concentrated footprint also creates geographic risk, while goodwill and trade-name values depend on future cash flows and can be impaired if operating assumptions weaken.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Geographic concentration in Nevada1Intense local gaming competition2Consumer spending and visitation sensitivity4Regulatory and licensing dependence5
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Geographic concentration in NevadaVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Most operations are tied to one state and one metro area, so local shocks can affect the whole business.

    Kohdistuu: Nevada and greater Las Vegas

  2. Intense local gaming competitionVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Casinos, resorts, and taverns compete for the same local patrons and discretionary spending.

    Kohdistuu: Nevada locals market

  3. Impairment of goodwill and indefinite-lived intangiblesVaikutus: Korkea

    Valuations rely on future cash flow assumptions that can change with regulation, competition, or demand.

    Kohdistuu: Nevada Casino Resorts trade names and reporting units

  4. Consumer spending and visitation sensitivityVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    Gaming, food, beverage, and hotel demand depend on household discretionary spending and traffic patterns.

    Kohdistuu: Casino resorts and taverns

  5. Regulatory and licensing dependenceVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    Gaming operations require approvals and compliance with state and local regulators.

    Kohdistuu: Nevada gaming properties

Kirjanpito

Harkinnanvaraiset erät
Goodwill impairment

Reporting unit valuations depend on future cash flows and market multiples, which can change materially.

Vaikutus: Could create non-cash charges if assumptions deteriorate.

Indefinite-lived trade-name impairment

Trade names are tested using royalty and cash flow assumptions that are sensitive to operating performance.

Vaikutus: Could materially reduce reported asset values.

Revenue classification across gaming and other revenue

Tavern participation agreements and space lease arrangements can shift amounts between gaming and other revenue.

Vaikutus: Affects segment comparability and revenue mix.

Capitalized refurbishment and maintenance

Some facility spending is capitalized while routine maintenance is expensed, affecting earnings timing.

Vaikutus: Influences depreciation and current-period operating expense.

Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.

Päivitetty: 24.9.2026