Golden Nugget igaming revenue grows 84.3% in second quarter

Golden Nugget Online Gaming (GNOG), the igaming division of the casino chain that is preparing a stock market listing, has revealed that gross gaming revenue for the second quarter of 2020 almost doubled year-on-year.

Gross revenue for the three months to 30 June grew 84.3% to $28.2m, and after expenses were factored in, net revenue for the quarter was up 78.4% to $24.8m.

Thomas Winter, senior vice president and general manager of GNOG, said the company surpassed its targets for the period, supported by record levels of player activity and average revenue per user.

“Our online play has remained strong in July and into August, and we are confident that we will exceed our revenue and operating income forecast in New Jersey this year,” Winter added.

While the business did not provide a full breakdown of profit and loss, it noted that operating income for the period also rose, by 73.5% to $8.5m.

“We are pleased with the continued strong revenue growth in New Jersey and our ongoing profitability.” Tilman J. Fertitta, GNOG’s sole shareholder and chief executive of current parent company Landry’s, said.

Read the full story on iGB North America.