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Golden Nugget Online Gaming (GNOG) is no longer a single-state operator. Besides the Garden State, the parent company of Golden Nugget online casinois live in Michigan.
Mar 08, 2021 The New Jersey sports betting law includes provisions for online and mobile betting anywhere within the state’s borders. Each property can deploy as many as three individual brands, the first of which launched in August 2018. NJ online casinos and poker sites have been operating since November 2013. Which online sportsbooks are legal in NJ? Golden Nugget Casino Bonus Code PLAY NOW! No Deposit BonusNo Deposit Bonus$10$10Bonus CodePLAYBONUS Golden Nugget’s online casino has grown to be a player favorite in legal states in the US. The online casino has been around since 2013, so Golden Nugget has years of experience in the online gambling industry under its belt. Feb 09, 2021 The top three license holders — Golden Nugget, Borgata, and Resorts — account for nearly 80% of NJ online casino revenue. Aside from DraftKings, which branched out into the casino space in 2019, these licensees comprise long-standing, recognizable brands. Mar 01, 2021 New Jersey topped the list of US states in online betting handle for October 2020, with just under $744 million wagered online. Pennsylvania ($472.2 million), Illinois ($409.5 million), and Nevada.
However, when talking about preliminary 2020 financial results, the numbers are 100% New Jersey. And like previous quarters, they are extremely strong.
GNOG announced some of the preliminary financial results via a press release. Here are a few of the highlights for the 12-month period ending Dec. 31, 2020:
- Total revenue of between $90 and $91 million compared to $55.4 million in ’19, an increase of approximately 63%
- Gross Gaming Revenue of between $101 and $102 million, compared to $60.9 million, an increase of approximately 67%
Operating income is between $23 and $24 million for an increase of about 38% compared to the $17.6 million.
However, according to the release, it was between $28 and $29 million before factoring approximately $4 to $5 million in costs related to the business combination with Landcadia Holdings II, Inc.
Tilman J. Fertitta, chairman and CEO of GNOG, was pleased with another year of rapid and profitable growth.
“2020 was a transformational year for GNOG, which went public, reached $100 million in GGR and signed market access agreements in multiple states,” said Fertitta.
“We look forward to replicating our New Jersey success in many other states and taking advantage of the strong growth of online gaming in the US.”
Golden Nugget 2020 New Jersey recap
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Any conversation regarding NJ online casino revenue is typically led by Golden Nugget.
For 2020, the land-based partner of Golden Nugget online casino finished first among the seven license holders with $318.9 million in revenue for an 80.1% year-over-year increase.
Keep in mind the number includes revenue from its three other online casino partners:
- Betfair NJ online casino
- BetAmerica
- SugarHouse online casino
However, it is Play NJ’s understanding that Golden Nugget online, as a brand, is responsible for the majority of the result.
As a whole, 2020 NJ online casino revenue came in at $970.3 million, setting a new all-time high. Golden Nugget, as a license-holder, had a 33% market share.
GNOG ‘thrilled to be live in Michigan’
So New Jersey essentially set the foundation for GNOG’s much bigger national plans.
This includes the Jan. 22 launch of Michigan online operations. Golden Nugget is operating in partnership with the Ojibwa Casino.
Golden Nugget Nj Online Bonus Codes
Thomas Winter, president of GNOG, said “we are thrilled to be live in Michigan and are optimistic on the revenue opportunity.”
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“We have just launched our marketing campaign and are already recording close to $2 million dollars in daily casino wagers. Michigan is embracing online gaming at a rapid pace and we anticipate that our business in the Great Lakes State will exceed our earlier expectations,” said Winter.
New addition to GNOG management team
Besides the preliminary earnings and Michigan outlook, Golden Nugget announced the hiring of online gaming industry veteran Kevin Vonasek as its vice president of corporate development.
He is the former chief product officer Americas at NYX Gaming Group and Vice President of business development Americas at Scientific Games Digital.
Winter said Vonasek “will play a key role in our ambitious expansion plans.”
GNOG previously announced plans to expand into Pennsylvania, West Virginia and other markets. So the company has no plans of slowing down its growth.