Golden Nugget Online Gaming’s new online sportsbook has launched in New Jersey in collaboration with Scientific Games. [Image: Shutterstock.com]
A fresh start
Golden Nugget Online Gaming (GNOG) has gone live with its new online sportsbook in New Jersey. This platform utilizes Scientific Games’ OpenSports product, with Don Best Sports managing the trading services. This new offering is a migration from its previous, SBTech-powered offering.
GNOG president Thomas Winter spoke about the operator’s successful experience to date using OpenSports for its Michigan sportsbook. He went on to outline the range of advanced betting products that people in New Jersey will now have access to with this new launch.
an exciting and important milestone in a partnership that we believe will flourish right across the US”
SG Digital senior vice president and general manager for the US Cathryn Lai spoke about how the New Jersey launch “represents an exciting and important milestone in a partnership that we believe will flourish right across the US moving forward.”
Making moves in other states
This New Jersey sportsbook isn’t the only GNOG platform to launch so far this year. GNOG booted up its online casino and sportsbook in Michigan in January, both of which are Scientific Games-powered. The operator is also planning a Pennsylvania launch in the near future. A Golden Nugget-branded online casino and sportsbook have been up and running in New Jersey since February 2019.
GNOG has been making moves to expand across the country since it became a publicly traded company in late-December 2020. Last month, it signed a 20-year deal with Tioga Downs Race Track in New York. This deal will give GNOG the ability to launch an online casino in the event that New York lawmakers legalize this form of online gambling.
The operator also has market access for an online casino and sportsbook in West Virginia and Illinois, pending regulatory approvals. Finally, it has secured a temporary permit for online sports betting in Virginia.
A focus on the future
On Tuesday, GNOG announced its financial results for 2020. Total revenue was $91.1m, a 64.4% year-on-year increase. It reported a net loss of $31.7m, mainly attributable to $37.8m worth of debt extinguishment and acquisition transaction expenses.
our business grew faster than ever before while maintaining high levels of profit margins”
Speaking about the company’s 2020 performance, GNOG president Thomas Winter said: “We completed our public listing and our business grew faster than ever before while maintaining high levels of profit margins.”
Winter went on to note that the company is confident about its growth strategy in the online gambling space going forward. GNOG believes that the US iGaming market could eventually be a $30bn market opportunity.