Golden Nugget Online Gaming reported record gross gaming revenues from its New Jersey online operations for the three months ending on June 30 of $28.2 million, compared to $15.3 million during the same period in 2019, an increase of 85 percent. Net revenue was $24.8 million compared to $13.9 million during the same period in 2019, an increase of 78 percent, and operating income was $8.5 million versus $4.9 million in the second quarter of 2019, a 74 percent increase.
“We are pleased with the continued strong revenue growth in New Jersey and our ongoing profitability,” said Tilman J. Fertitta, GNOG’s owner.
Thomas Winter, senior vice president and general manager of GNOG, added, “Our second quarter beat our target, supported by record player activity and average revenue per user. Our online play 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. We look forward to expanding our operations to Pennsylvania and Michigan, where our licensing process is ongoing.”
On June 28, Golden Nugget Online Gaming entered into a transaction agreement with Landcadia Holdings II, Inc., a special-purpose acquisition company. Golden Nugget Online Gaming will become an indirect, wholly owned subsidiary of Landcadia, which will change its name to Golden Nugget Online Gaming, Inc.