Golden Nugget Online Gaming reported soaring year-over-year revenue in preliminary financial reports released Monday morning.
Tilman Fertitta, chairman and chief executive of Golden Nugget Online Gaming, poses for a portrait in his Houston office May 28, 2019.
Revenues hit $90 million in the 12 months ended Dec. 31, up 63 percent from $55.4 million in 2019, the company said in a news release.
Full financial results are pending, though GNOG reported operating income of between $23 million and $24 million in 2020, up from $17.6 million in 2019. Operating expenses during the period included between $4 million and $5 million in costs related to the merger that took the company public in December.
“We are very pleased with yet another year of rapid and profitable growth,” Tilman Fertitta, the company’s chairman and chief executive, said in the release. He said that in 2020 the company reached $100 million in gross gaming revenue as it signed agreements to expand to multiple states.”
The company launched online operations in Michigan last month in partnership with Ojibwa Casino and has been ratcheting up its online casino marketing.
“We have just launched our marketing campaign and are already recording close to $2 million in daily casino wagers,” Thomas Winter, GNOG’s president, said in the release. “Michigan is embracing online gaming at a rapid pace and we anticipate that our business in the Great Lakes State will exceed our earlier expectations.”