Golden Nugget Reports Surge In Year-Over-Year Online Gaming For Q2

  • Golden Nugget Online Gaming Inc. has officially released Q2 numbers that showcase major growth in the company.
  • Gross gaming revenue has increased to 85% compared to the previous year’s numbers.
  • Operating income is also up from last year, 74%.

HOUSTON- The Q2 numbers for Gold Nugget Online Gaming Inc. (GNOG) has shown major increases from last year’s total numbers.

GNOG sees big percentage gains in gross revenue, net revenue, and operating income compared to this time period in 2019.

These numbers are a big deal as the company just recently went public after partnering with Landcadia Holdings II, Inc in June.

GNOG Shows Growth

When the Golden Nugget Casino went public, it was a major deal in the world of gambling.

These Q2 numbers have showcased that the decision to go public was a smart move by owner Tillman Fertitta, also owner of the Houston Rockets.

“We are pleased with the continued strong revenue growth in New Jersey and our ongoing profitability,” said Tilman J. Fertitta, GNOG’s owner.

According to the GNOG reports, Q2 saw large percentage gains in 2020 compared to 2019.

For starters, gross gaming revenue is up to $28.2 million from $15.3 million in 2019. This is an 85% increase from the prior year. Net revenue saw a 78% sike in growth, up to $24.8 million from $13.9 million. And operating income saw a 74% increase, up to $8.5 million from $4.9 million.

“Our second quarter beat our target, supported by record players activity and Average Revenue per User (ARPU),” said Thomas Winter, Senior Vice President and General Manager of GNOG. “Our online play has remained strong in July and into August, and we are confident that we will exceed our revenue and operating income forecast in New Jersey this year. We look forward to expanding our operations to Pennsylvania and Michigan, where our licensing process is ongoing. We are closely monitoring the legislative momentum in other states and, with the access to capital provided by the proposed transaction with Landcadia, we will seek to expand our US online gaming business, wherever regulations provide for profitable growth opportunities.”

While currently operating in New Jersey, GNOG is already putting forth plans to launch in both Michigan and Pennsylvania which will only further its successes.

This growth has pushed the GNOG into being one of the bigger USA online gambling operators in the business. The company expects the numbers to only increase with more people partaking online gambling during the pandemic.