Golden Nugget Online Gaming (GNOG) PT Lowered to $20 at Benchmark
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Golden Nugget Online Gaming, Inc. Reports Financial Results for the First Quarter Ended March 31, 2021
May 17, 2021 4:05 PM EDTHOUSTON, May 17, 2021 /PRNewswire/ -- Golden Nugget Online Gaming, Inc. (Nasdaq: GNOG) (the "Company") today reported its financial results for the first quarter ended March 31, 2021.
First Quarter Highlights
Revenue was $26.7 million, representing an increase of 54.2%, compared to $17.3 million during the first quarter of 2020. Net income was $69.6 million after gains on warrant derivatives liabilities of $81.1 million, a gain on the tax receivable agreement liability of $1.3 million and debt extinguishment expenses of $2.2 million. Adjusted EBITDA was $(3.5) million compared to Adjusted EBITDA of $5.9 million for the first quarter... More
