Some hit a wall but Golden Nugget hits the street
The reopening of New Jersey’s brick and mortar casinos means that some operators stand a chance to overcome the struggle caused by these uncertain times. But while some operators are in trouble nowadays. The Golden Nugget Casino’s owner Tilman Fertitta opted to take its business to the next level. And consequently, New Jersey’s number 1 online operator will become the second publicly traded online casino on Nasdaq.
In the same press release as the one that announced the company would go public. They’ve also unveiled an upcoming name change from Landcadia II to Golden Nugget Online Gaming Inc. This should help the brand trade on Nasdaq using the trade symbol “GNOG” as of Q3 2020.
The Golden Nugget is indeed the star of the shore. In 2019 the business’ net income was $11 million. And in 2021, the company is expected to yield around $122 million.
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The rise of the brand
The Golden Nugget casino is the pack leader when it comes to online wagers in New Jersey. The key to its success is that this brand seems to have invested more time in developing a large game library than other casinos in New Jersey.
They currently have over 708 slot games, including many exclusive titles. Yet, the Nugget’s success cannot only be attributed to 1 single brand. Indeed, its business partners such as Play Sugar House and Betfair Casino (FanDuel) also contribute to the Nuggets growth.
Each to its area of expertise
The particularity of the Golden Nugget’s partners is that, in a great way, they all target different audiences. This way, they can stay clear, as much as possible, of market cannibalization.
For instance, Play SugarHouse Casino is a gamified brand and attracts savvy players or those on the lookout for extra value mostly. Betfair and FanDuel, on the other hand, focuses on sports and DFS. And the Nuggets appeal is that everyone can find a game they’ll love to play in their well-segmented lobby. But more importantly, everyone can take part in their generous promotion. Not to mention, the brand offers an excellent continuity to offline casino players too. And that’s especially appreciated in this digital era.