This is a LCA GOLDEN NUGGET stock update for I gaming, this stock has alo't of upside behind! This stock Golden Nugget Online Gaming will be going public on the Nasdaq exchange after a special-purpose reverse merger with blank check company Landcadia Holdings II.

Golden Nugget Online Gaming, the online version of the Golden Nugget chain of casinos owned and operated by Landry’s Incorporated and owned by Tilman Fertitta Houston Rockets Owner , it will also become only the second online casino operator to be purely publicly traded on a US exchange.

The deal, which is predicted to close in the third quarter of 2020, will see the operator’s shares traded on the Nasdaq under the GNOG ticker symbol. It values GNOG at approximately $745m, or 6.1x its projected 2021 revenue of $122m

LCA Golden Nugget Online Gaming has published selected financial results for the second quarter of 2020 for the period ended June 30, 2020. After reviewing the update, business has been brisk across the firm’s New Jersey operations with record player activity.

In terms of the updated numbers, gross gaming revenues of $28.2m came in at 85% higher than the $15.3m achieved during the same period in 2019. Net revenue, meanwhile was $24.8m compared to $13.9m during the same period in 2019, an increase of 78%.

The firm also noted operating income of $8.5m versus $4.9m in the second quarter of 2019, marking a 74% increase.

#LCA #GoldenNugget

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