Golden Nugget Online Gambling Goes Public on the NASDAQ

By Jimmy Reinman | June 30, 2020
Golden-Nugget
  • Popular casino brand Golden Nugget is listing their online gambling entity on the public market, via the NASDAQ.
  • Golden Nugget going public will offer potential investors a huge chance to invest in pure online gambling.

NEW YORK – Gambling giant Golden Nugget has made headlines this week as the announcement that their online gambling platform will now go public and open itself to investors via the NASDAQ.

Golden Nugget is one of the largest players in the US market, with locations in Las Vegas, Atlantic City, Biloxi, Lake Charles, and Laughlin.

Golden Nugget is also one of the leaders in the US online gambling and was even one of the first platforms to introduce the live dealer format.

Now, Golden Nugget’s online business plans to be acquired by the Lancadia II group before being officially available for public trade.

Lancadia II is a special purpose acquisition company, that will rename itself to be Golden Nugget Online Gambling. The NASDAQ symbol will be $GNOG.

"GNOG is one of the best-positioned companies to capitalize on this massive online gaming opportunity in the U.S.," said Rich Handler, co-chairman of Landcadia II.

In the Golden Nugget’s home state of New Jersey, they have already established themselves as a major player in the online gambling market, with plans to continue expansion into Pennsylvania and Michigan in early 2021.

The importance of this listing stems from how it will perform over the next few years. If GNOG stock does well for its early investors, we could see a heavy influx of publicly-traded gambling entities spring up across the market.

There are already a good amount of casino stocks in existence, but few that are an online-only bet. Investors will look closely at GNOG and see how it performs as a separate, only-online platform.

Now could be the ideal time to get behind an online gambling platform, as online casinos have become a huge player due to the coronavirus pandemic.

Investors looking to capitalize might see this as a golden opportunity.

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