Golden Nugget Online sees Q4 2020 revenue of $23m, up 48% y-o-y

Golden Nugget Online Gaming reported fourth quarter 2020 revenue of $23m, an increase of 48% year-on-year.

Net loss was $34.2m, compared to net income of $3.2m in Q4 2019. Adjusted EBITDA for the quarter was $6.2m, up from $4.8m in the prior year comparable period.

GNOC reported 2020 full-year revenue of $91m.

Thomas Winter, President of GNOC, said, “We are extremely proud of everything achieved by Golden Nugget Online Gaming in what was a challenging year for everyone. We completed our public listing and our business grew faster than ever before while maintaining high levels of profit margins. We view 2020 as a year that validates our iGaming focused strategy and, combined with our increasing market access footprint, gives us conviction in our ability to take advantage of what we believe could ultimately be a $30.0 billion market opportunity.”

GNOC has steadily invested in online sports betting since its public listing in December 2020.

It launched online casino and sportsbook in Michigan in January 2021. Earlier this month the company put out a new version of its online sportsbook in New Jersey. GNOC has also secured online sports betting market access in West Virginia and Illinois and a temporarily online sports betting permit in Virginia.

Ezra Amacher

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