Q3 results 2020

Golden Nugget Online Gaming sees revenue grow 92% in Q3

1 minute read
Golden Nugget Online Gaming posted a 91.9% rise in net revenue for the third quarter of the year, and revealed that it expects to finalize its Nasdaq listing by the end of November.

Gross gaming revenue for the three months to 30 September came to $28.9m, almost double the $14.9m generated in the third quarter of 2019. After gaming taxes, its net revenue came to $25.9m, up from $13.5m in the prior year. 

“Our third quarter confirmed and amplified our momentum in New Jersey, with record revenues supported by all-time-high player activity, sustained marketing investments and 64 new casino games, 20 of which we launched on an exclusive basis,” the operator’s president Thomas Winter said. 

Winter added that based on October’s performance, the business now believes it could generate gross gaming revenue of more than $100m in the state for 2020. 

“We are very pleased with yet another quarter of profitable growth. Our pandemic-proof business model keeps showing its resilience in New Jersey and we look forward to expanding operations in Michigan,” the business’ owner Tilman J. Fertitta added.

While Golden Nugget did not provide a full breakdown of its quarterly performance, it noted that operating profit for the period came to $8.2m almost double Q3 2019’s $4.2m.

Read the full story on iGB North America.