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Golden Nugget Online Gaming (NASDAQ: GNOG) will release its financial results for Q4 and full year 2020 on March 23, 2021, post-market close. A conference call will follow at 4:00 p.m. CDT to discuss the results. Interested parties can join the call by dialing (720) 452-9102 with confirmation code 8375099. The company boasts a strong reputation in the online gaming sector, being recognized as the Operator of the Year for four consecutive years by eGaming Review North America Awards.
Golden Nugget Online Gaming (Nasdaq: GNOG) has secured a temporary online sports gaming license in Virginia, expanding its market access to 10 states. The announcement was made on March 16, 2021, by President Thomas Winter, who expressed gratitude to the Virginia Lottery for this opportunity. GNOG plans to collaborate with Virginia Sports Technology Group and will share revenues with Virginia's Historically Black Colleges & Universities. The company aims to start accepting bets in the summer of 2021, pending regulatory testing.
Golden Nugget Online Gaming (NASDAQ: GNOG) will participate in the Bank of America Securities Sports Betting and Online Gaming Field Trip Virtual Conference on March 16, 2021, at 9:00 a.m. Eastern Time. President Thomas Winter will represent the company during this event. GNOG is a recognized leader in the online gaming industry, known for innovations like Live Dealer and Live Casino Floor in the U.S. It has received numerous accolades, including the 'Operator of the Year' award from eGaming Review North America for four consecutive years from 2017 to 2020.
The gaming industry is rapidly evolving with esports gaining traction, especially during global lockdowns. Companies like Luckbox, Golden Nugget Gaming (GNOG), Rush Street Interactive (RSI), and Melco Resorts (MLCO) are capitalizing on this trend. Luckbox saw a 500% increase in new customers on its esports betting platform in 2020. The company allocated CAD$2 million for user acquisition around major events like the IEM Katowice tournament. Meanwhile, Golden Nugget reported a 63% revenue increase in 2020, highlighting potential for growth in online gaming.
Golden Nugget Online Gaming (Nasdaq: GNOG) has entered a 20-year agreement with Tioga Downs Race Track for online gaming market access in New York. Subject to regulations, GNOG will pay Tioga Downs a percentage of its net gaming revenue. With New York's population near 19.5 million, GNOG anticipates a potential $2 billion in Gross Gaming Revenue at market maturity. This partnership marks GNOG's ninth market access deal, expanding its total addressable market to approximately $10 billion in the U.S.
Golden Nugget Online Gaming (Nasdaq: GNOG) announced preliminary financial results for 2020, reporting total revenues between $90.0 and $91.0 million, a 63% increase from $55.4 million in 2019. Gross Gaming Revenue rose 67% to between $101.0 and $102.0 million. Operating income was estimated at $23.0 to $24.0 million, a 38% increase. The company has launched operations in Michigan, achieving close to $2 million in daily wagers. Kevin Vonasek joined as Vice President of Corporate Development, aiming to boost expansion in new states.
Golden Nugget Online Gaming (GNOG) announced the redemption of all outstanding public warrants to purchase shares of its Class A common stock for $0.01 per warrant. This redemption will occur for warrants not exercised by 5:00 p.m. on March 8, 2021. The redemption was made possible as GNOG's stock price met the requirement of closing above $18.00 for 20 trading days, achieving this on January 28, 2021. Holders can exercise their warrants at $11.50 each until the deadline. Further inquiries can be directed to Continental Stock Transfer & Trust Company.
Fertitta Entertainment, the parent company of Golden Nugget/Landry's, has entered into a merger agreement with FAST Acquisition Corp (FST), allowing it to go public. The merger will value the company at approximately $6.6 billion, with Tilman Fertitta maintaining a 60% ownership stake worth over $2 billion. The transaction entails control over ~31 million shares of Golden Nugget Online Gaming (GNOG). FAST's $200 million cash and an additional $1.2 billion PIPE investment aim to enhance growth and reduce debt. The merger is expected to close in Q2 2021, pending shareholder and regulatory approvals.
Golden Nugget Online Gaming (GNOG) has officially received authorization from the Michigan Gaming Control Board to launch its Online Casino and Sportsbook on January 22, 2021. This expansion into Michigan follows GNOG's successful operations in New Jersey since 2013. The new platform will offer a wide range of online slots, table games, and sports betting options, including promotional bonuses of up to $1,000 for new customers. GNOG aims to provide top-tier service and product quality through its partnership with Ojibwa Casino and the Keweenaw Bay Indian Community.