Interactive
US – Golden Nugget Online doubles down on revenue
By Phil - 20 May 2021
Having successfully completed its first quarter of operations in Michigan, Golden Nugget Online Gaming generated $26.7m during its first quarter, representing an increase of 54.2 per cent, compared to $17.3m during the first quarter of 2020.
Net income was $69.6m after gains on warrant derivatives liabilities of $81.1m, a gain on the tax receivable agreement liability of $1.3m and debt extinguishment expenses of $2.2m.
President Thomas Winter said: “We are very pleased to start 2021 with such strong results across both our established and new expansion markets. We believe we are well positioned to capitalize on the significant and fast growing market for iGaming across North America. We expect that 2021 will be a milestone year for the company as we are on target to be live in 6 states by the end of the year, including all four key iGaming states.”
Chairman and Chief Executive Officer, Tilman Fertitta added: “The future is very bright for Golden Nugget Online Gaming as we achieved another record quarter in revenue and with our newly announced partnerships in Colorado and Iowa, we now have market access in 12 states, representing approximately 29 per cent of the US population.”
Golden Nugget also secured market access in Colorado with Maverick’s Z Casino and in Iowa with the Wild Rose Casino for online sports and casino. It started the 1,800 square feet expansion of its live dealer studio in New Jersey
