Investors May Get 2 Chances to Bet on Golden Nugget Casino
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Investors will get two chances to bet on Golden Nugget Casino. The first one will come at the end of December when shareholders of Landcadia Holdings II vote on merging with Golden Nugget Online Gaming. Second one comes if the casino itself follows up with an IPO.
Golden Nugget Online Gaming has the biggest online casino in New Jersey with over $289.4 million in revenue so far in 2020. The company recently reported third-quarter gross gaming revenue of $28.9 million, up 93% from last year and net revenue $25. 9 million. The meeting was delayed because not enough shareholders voted in favor of the Landcadia acquisition.
Investors may get 2 chances to bet on Golden Nugget Casino.
Tilman Fertitta is interested in taking his businesses public. He owns Landcadia, Golden Nugget, Bubba Gump Shrimp, and Del Frisco's restaurants, as well as the Houston Rockets. Golden Nugget has had a rough go of it during the pandemic. It was a distant eighth in casino winnings in the state, ahead of only Caesars Entertainment's Bally's.
Golden Nugget Online Gambling is going to go public. It has plans to expand into Michigan and Pennsylvania. The Golden Nuget casino might be a better play for Fertitta than for investors. Atlantic City's casinos are ailing and Las Vegas comes and goes in spurts.
