![]() ![]() Therefore, the industry and the company are still in the early innings.įurthermore, the company recently secured market access to Illinois, West Virginia and New York as well as a temporary permit for online sports betting in Virginia. Assuming that the market size is $30 billion and the company has a market share of 5%, potential revenue visibility is $1.5 billion. iGaming market will be worth $30 to $37 billion at maturity. There are various factors that point to sustained revenue growth.įirst and foremost, Golden Nugget estimates that the U.S. At the mid-point of guidance, top-line growth will be 51%. Meanwhile, adjusted EBITDA for the full year was $28.9 million, which implies a healthy EBITDA margin of 32%.įor 2021, the company has guided for revenue in the range of $130 to $145 million. Golden Nugget reported revenue of $91.1 million for FY2020, reflecting a 64.4% gain from the previous year. Golden Nugget Positioned For Sustained Growth ![]() ![]() Let’s discuss some of the potential growth catalysts. With this in mind, sustained upside seems very likely over the medium-term. Katz believes that the “iGaming market has not been fully appreciated by the Street.” Currently, shares are changing hands for $13.55 apiece.Īs for the analyst community, Jefferies’ David Katz recently initiated coverage on Golden Nugget with a Buy rating and set a $28 price target (107% upside potential). In terms of the stock price action, GNOG surged to $26.24 at the end of 2020 before reaching a low of $12.80 at the end of March. ![]()
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