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Golden Nugget Online Gaming (NASDAQ: GNOG) has renewed its partnership with OtherLevels for two more years, expanding into West Virginia alongside existing markets in Michigan and New Jersey. This collaboration enhances player engagement through tailored messaging based on player behavior and preferences. OtherLevels, operational since 2015, aids GNOG in optimizing its marketing efforts, driving player activity both in and out of sessions. The partnership is set to grow as GNOG launches in additional states, utilizing sophisticated marketing strategies to deliver personalized content to gamers.
Golden Nugget Online Gaming (Nasdaq: GNOG) reported Q3 revenue of $35.6 million, a 37.4% increase from last year, and $94.1 million for the first nine months, up 38.2%. However, the company faced a net loss of $31.3 million in Q3 due to significant expenses, including an $18.9 million loss on warrant derivatives. Adjusted EBITDA loss was $2.5 million for Q3. Active First Time Depositors grew by 133.2% in Q3. The company expanded its offerings in Michigan, West Virginia, and Virginia, launching new games and services. Future operations in Pennsylvania are anticipated to start by Q1 2022.
Genius Sports Limited (NYSE: GENI) has partnered with Golden Nugget Online Gaming (NASDAQ: GNOG) to provide official data and trading solutions for major sports including the NFL and NASCAR. This partnership will enhance GNOG's betting offerings through Genius Sports’ award-winning LiveData and LiveTrading solutions. With exclusive data rights for leagues such as the English Premier League and Liga MX, this collaboration aims to improve customer engagement and support a sustainable sports betting ecosystem.
Golden Nugget Online Gaming (GNOG) reported significant growth in its Q2 2021 financial results, with revenues increasing by 27.7% to $31.7 million year-over-year, and a 38.6% rise in the first half to $58.4 million. However, the company faced a net loss of $1.6 million in Q2, reversing from a net income of $0.1 million in the same period last year. Adjusted EBITDA was $(3.8 million), down from $8.5 million in Q2 2020 due to expansion investments in new markets. Active First Time Depositors surged 110% in Q2. GNOG also signed strategic partnerships and entered agreements for market access in Arizona and Ohio.
Golden Nugget Online Gaming (NASDAQ: GNOG) has announced a partnership with the Rocket Mortgage Classic, making it the Official National Casino Partner for the 2021 and 2022 tournaments. Taking place from July 1-4, 2021, at the Detroit Golf Club, GNOG will showcase on-site branding and offer promotional activities including golf bag giveaways and odds boosts on wagers placed during the event. The tournament features 156 top golfers and will be broadcast nationally. This partnership aims to connect GNOG with the local community while supporting digital accessibility initiatives in Detroit.
Golden Nugget Online Gaming (NASDAQ: GNOG) will participate in a fireside chat at the Jefferies US Sports Betting & iGaming Day on June 24, 2021, at 11:30 a.m. Eastern Time. The chat will feature Thomas Winter, President, and Michael Harwell, CFO, who will also hold investor meetings afterward. The event will be broadcast live on their investor relations website. GNOG is recognized for leading innovations in online gaming, notably in Live Dealer experiences, and has won multiple eGaming Review North America Awards, including Operator of the Year.
Golden Nugget Online Gaming (NASDAQ: GNOG) has expanded its game offerings in Michigan by launching over 50 slot and table games from International Game Technology (IGT) on GoldenNuggetCasino.com. Popular titles include 'Cleopatra' and 'Wheel of Fortune Megaways,' which offers players numerous winning opportunities. Vice President Warren Steven emphasized the company's commitment to enhancing content for Michigan's iGaming patrons. This launch follows GNOG's success in New Jersey, reinforcing its position in the online gaming market.
Golden Nugget Online Gaming reported a strong first quarter for 2021, with revenue of $26.7 million, up 54.2% from $17.3 million a year earlier. The net income reached $69.6 million, boosted by non-cash gains on warrant derivatives and tax receivable agreements. However, the Adjusted EBITDA was negative at $(3.5) million, a decline from $5.9 million in Q1 2020. The company maintains its full-year revenue outlook of $130 million to $145 million, and it has secured market access in Colorado and Iowa, expanding its presence to 12 states.
Golden Nugget Online Gaming (NASDAQ: GNOG) announced it will release its Q1 2021 financial results on May 17, 2021, after market close. A conference call to discuss these results will occur the same day at 3:30 p.m. CT. Interested parties can access the call via phone or through a live webcast on the Company’s Investor Relations website. GNOG is recognized as a leader in the online gaming sector, having won multiple awards for its innovative offerings.
Golden Nugget Online Gaming (GNOG) reported a 47.9% revenue increase to $23.0 million for Q4 2020, while full-year revenues rose 64.4% to $91.1 million. Operating income stood at $2.0 million for Q4 and $24.5 million for the year, despite a net loss of $34.2 million for Q4 and $31.7 million for the full year due to acquisition-related expenses. Adjusted EBITDA was $6.2 million for Q4 and $28.9 million for the year. The company emphasizes a strong market position in iGaming, suggesting significant growth potential.
