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Washington, D.C. 20549_______________________________________________ (Mark One) ANNUAL REPORT PURSUANT TO SECTION13 OR 15(d) OF THE SECURITIES EXCHANGE ACTOF1934 For the fiscal year ended December 31, 2025or ☐TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d) OF THE SECURITIES EXCHANGE ACTOF1934For the transition period from ______to ______Commission File No.000-24993_______________________________________________ GOLDEN ENTERTAINMENT, INC. (Exact name of registrant as specified in its charter)_______________________________________________ Minnesota41-1913991(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.) 6595 S Jones Boulevard - Las Vegas, Nevada 89118(Address of principal executive offices)(702)893-7777(Registrant’s telephone number, including area code)Securities registered pursuant to Section12(b) of the Act: Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes☒No☐ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes☐No☒ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during thepreceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90days. Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T(§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerginggrowth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of theExchange Act. Large accelerated filer☒Non-accelerated filer☐Emerging growth Company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revisedfinancial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control overfinancial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☒ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect thecorrection of an error to previously issued financial statements.☐Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No☒ Based upon the last sale price of the registrant’s common stock, $0.01 par value, as reported on the Nasdaq Global Market on June30, 2025, the aggregate market valueof the common stock held by non-affiliates of the registrant as of such date was $563,805,490. For purposes of these computations only, all of the Registrant’s executiveofficers and directors and entities affiliated with them have been deemed to be affiliates.As of February17, 2026, 26,199,079 shares of the registrant’s common stock, $0.01 par value, were outstanding. GOLDEN ENTERTAINMENT, INC. ANNUAL REPORT ON FORM 10-KFOR FISCAL YEAR ENDED DECEMBER31, 2025 INDEX PART IITEM 1.BUSINESS1ITEM 1A.RISK FACTORS10ITEM 1B.UNRESOLVED STAFF COMMENTS22ITEM 1C.CYBERSECURITY22ITEM 2.PROPERTIES23ITEM 3.LEGAL PROCEEDINGS23ITEM 4.MINE SAFETY DISCLOSURES23PART IIITEM 5.MARKET FORREGISTRANT’S COMMON EQUITY,RELATED STOCKHOLDER MATTERS ANDISSUER PURCHASES OF EQUITY SECURITIES24ITEM 6.[RESERVED]25ITEM 7.MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OFOPERATIONS25ITEM 7A.QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK34ITEM 8.FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA35ITEM 9.CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIALDISCLOSURE77ITEM 9A.CONTROLS AND PROCEDURES77ITEM 9B.OTHER INFORMATION77ITEM 9C.DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS77PART IIIITEM 10.DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE77ITEM11.EXECUTIVE AND DIRECTOR COMPENSATION83ITEM 12.SECURITY OWNERSHIP