Published
OnlineCasinoFinancialIndustry

Golden Nugget online revenue up 90% for Q3

Golden Nugget Online Gaming (GNOG) saw net revenue of $25.9m for Q3 2020, 92% higher than $13.5m in 2019. Gross gaming revenue for Q3 was $28.9m, a 93% increase from $14.9m for the same period last year. Operating income also saw a 92% year-on-year growth, going from $4.2m to $8.2m.

goldennugget

According to the statement, the company is working to launch its mobile sports betting and casino operations in Michigan by the end of the year; GNOG wants to expand its US operations across multiple states and hopes that the accelerated growth of online gaming revenue might encourage more states to consider online casino legislation in 2021 and 2022. Additionally, on June 28 GNOG entered into a purchase agreement with Landcadia Holdings II, Inc., and hopes to close the transaction by the end of November. 

The owner of GNOG Tilman J. Fertitta was pleased with the growing profits: “Our pandemic-proof business model keeps showing its resilience in New Jersey and we look forward to expanding operations in Michigan." 

Thomas Winter, President of GNOG, said: "Our third quarter confirmed and amplified our momentum in New Jersey, with record revenues supported by all-time-high player activity, sustained marketing investments and 64 new casino games, 20 of which we launched on an exclusive basis.” He believes that this year, the company might be able to generate over $100m in GGR. 

Premium+ Connections
Premium

RISK

 
Premium

PIN-UP Partners

 
Premium

Sport Generate

 
Premium

Digitain

 
Premium

Revsharks

 
 
Premium

1xBet Partners

 
Premium

Galaxsys

 
Premium

GammaStack

 
Premium

Lynon

 
Premium

Imagine Live

 
Premium Connections
Consultancy

SCCG Management

Executive Profiles
Zeal Network SE

Stefan Tweraser

VIP Play

Les Ottolenghi

Scientific Games

Keshav Pitani

Social & App

Spribe CEO exclusive: Simplicity is the foundation

Spribe CEO David Natroshvili speaks to Gambling Insider abou...

Redefining iGaming: A history of crash games

Crash games is a growing vertical that has taken gambling by...

A certain something: What makes crash games special?

Crash games. They’re simple, they’re easy to learn and,...

Smarter innovation to shape the future

Spribe CCO Giorgi Tsutskiridze discusses the past, present a...

Facing Facts: The corner of quarterly contemplation

With Q1 reports out across the industry, Gambling Insider co...

Taking Stock: A guide to key stock prices across the industry

Gambling Insider tracks prices from some of the industry’s...

15 years of Gambling Insider: From the Founders

Over the last 15 years, Gambling Insider magazine has interv...

15 years of Gambling Insider: The Awards over time

Global Gaming Awards Event Manager Mariya Savova gives us he...