Golden Nugget Online Gaming (GNOG) PT Lowered to $20 at Benchmark

Benchmark analyst Mike Hickey lowered the price target on Golden Nugget Online Gaming (NASDAQ: GNOG) to $20.00 (from $24.00) while maintaining a Buy rating.

The analyst commented, "GNOG delivered an inline F1Q21 revenue growth and reiterated FY21 revenue guidance range. GNOG currently operates in New Jersey and Michigan, and has secured market access agreements in 12 states, representing 29% of the U.S. population. GNOG believes they are on target to be live in 6 states by FY21 year end, including all 4 key online casino states. Inline performance and relative market share in Michigan for both OSB and online casino is disappointing."

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