Golden Nugget revenue climbs 68% in 2020
Golden Nugget’s 2020 revenue benefited from the increase in online gaming during the Covid-19 pandemic.
US.- Golden Nugget Online Gaming (GNOG) has reported a 68 per cent increase in gross gaming revenue (GGR) for 2020.
The online casino company estimates that GGR came in between $101m and $102m.
Net gaming revenue hit $79m, up 65.6 per cent year-over-year, while a further $22m was wagered through promotional credits or towards progressive jackpots, up by 66.7 per cent.
GNOG said it expects operating incomes of between $28m and $29m, before taking into consideration costs related to its merger with special purpose acquisition company Landcadia Holdings II.
Golden Nugget Online Gaming chairman and chief executive, Tilman Fertitta, said: “We are very pleased with yet 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.”
Golden Nugget became only the second online casino operator to trade entirely publicly on a US exchange when it launched on the Nasdaq in late June.
Online gaming has soared during the Covid-19 pandemic, but many in the industry remain uncertain if the increase will continue once the pandemic ends.
