Golden Nugget Online Gaming (GNOG) Reports Q4 Revenues Beat

Golden Nugget Online Gaming (NASDAQ: GNOG) reported Q4 revenue for the quarter came in at $23 million versus the consensus estimate of $22.3 million.

Fourth Quarter Highlights

• Revenues were $23.0 million, representing an increase of 47.9% over the prior year.
• Operating income of $2.0 million after acquisition transaction related expenses of $4.1 million.
• Net loss of $34.2 million after acquisition transaction and debt extinguishment related expenses totaling $37.8 million.
• Adjusted EBITDA of $6.2 million

President, Thomas Winter commented "We are extremely proud of everything achieved by Golden Nugget Online Gaming in what was a challenging year for everyone. We completed our public listing and our business grew faster than ever before while maintaining high levels of profit margins. We view 2020 as a year that validates our iGaming focused strategy and, combined with our increasing market access footprint, gives us conviction in our ability to take advantage of what we believe could ultimately be a $30.0 billion market opportunity."

Chairman and Chief Executive Officer, Tilman Fertitta added "The large and long-tailed opportunity for iGaming paired with the strategic benefits GNOG has within the Golden Nugget and Landry's network is a powerful combination. I echo Thomas' enthusiasm and excitement for the future and thank him and the entire Golden Nugget Online Gaming team for an incredible 2020 and everything that lies ahead."

For earnings history and earnings-related data on Golden Nugget Online Gaming (GNOG) click here.

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Optimum Communications gets NYSE non-compliance notice over stock price
• JD.com (JD) Reiterated at Buy by Benchmark Amid Earnings Recovery