GNOG Q1 revenue rises while SPAC warrants help profit skyrocket 1,000%
| By Marese O'Hagan
Golden Nugget Online Gaming (GNOG) reported a revenue increase of 54.2% in the first quarter of 2021, and while operating losses rose by almost $12m as costs grew rapidly, non-operating income meant final profit grew more than tenfold.
Revenue came to $26.7m, a rise of $9.4m from $17.3m in the previous first quarter. Gaming made up $23.0m of the revenue, an increase of 54.7% year on year, while other revenue rose by 51% to $3.6m.
However, costs and expenses exceeded revenue, resulting in an overall loss.
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