Golden Nugget revenue climbs 68% in 2020

Golden Nugget's revenues more than doubled in 2020.
Golden Nugget's revenues more than doubled 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.

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