Golden Nugget Online Gaming sees Q2 GGR rise 85% year-on-year
Golden Nugget Online Gaming (GNOG) has reported an 85% year-on-year rise in gross gaming revenue (GGR) for Q2 2020.
GGR was up to $28.2m in Q2 for the operator’s New Jersey operations, while net revenue increased by 78%, to $24.8m. Operating income also saw a significant rise, up 74% from 2019 to $8.5m.
The operator accredited the rise to a record amount of player activity and that online play has remained strong in July and August. GNOG expects its New Jersey revenue and operating income forecast for 2020 to be exceeded.
GNOG also mentioned that it plans to expand its operations, with the licensing process ongoing in Pennsylvania and Michigan.
GNOG senior vice president and general manager, Thomas Winter, said: “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.”
In June, GNOG entered into a purchase agreement with Landcadia II which saw the operator go public, and become a wholly owned subsidiary of Landcadia, in an acquisition valuing Golden Nugget’s online casino division at approximately $745m.
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