For the three-month period ending March 31, 2021, Golden Nugget reported strong revenues reaching $ 26.7 million, an increase of 54.2% compared to the same period last year. The company continues to focus on expansion to more US states by the end of the year.
Golden Nugget reports strong revenue growth in the first quarter of 2021
A leading American gambling operator, Golden Nugget published Financial results for the first three months of 2021 on Monday this week. The company indicated strong revenue growth in the first quarter ended March 31, 2021 . Golden Nugget Revenue hit 26.7 million for a period of time. It means growth at 54.2% , with $ 17.3 million in revenues recorded in the first quarter of 2020.
In addition, the operator revealed that his net income reached $ 69.6 million compared to the same period last year when it stopped at $ 4.2 million. Adjusted EBITDA for the first quarter of 2021 amounted to USD 3.5 million , while in the same period last year it reached $ 5.9 million. Additionally, Golden Nugget revealed that all of its 10, 541, 667 public warrants were exercised or redeemed in the first quarter of 2021.
The company continues its expansion in the USA
Apart from the financial results, Golden Nugget appreciated its business achievements. The company said that successfully completed operations in the first quarter in Michigan . Moreover, he assured a market access agreement with Maverick's Z Casino in Colorado which is subject to regulatory and legislative approval.
Additionally, Golden Nugget did not miss the memories that he provided a Market Access Agreement with Wild Rose Casino in Iowa . The deal covers both the casino and online sports, but is still pending legislative and regulatory approval. The company has also initiated a 1,800 square foot New Jersey live dealer expansion.
2021 This is a landmark year for Golden Nugget
In a statement Thomas Winter Golden Nugget's CEO revealed that the company is very pleased with the beginning of this year . In addition, he admitted that the results of the first quarter were good and complemented by expansion into new markets. Winter admitted the company has well-positioned to capitalize on a large portion of the growing North American gambling market . In conclusion, he emphasized that 2021 will be a milestone for Golden Nugget, as the company plans to live in 6 US states by the end of the year. including 4 key game states.
" We are very pleased to start 2021 with such strong results in both our established and new expansion markets. "
Thomas Winter, president, Golden Nugget
Tilman Fertitta , CEO and president of Golden Nugget also shared his excitement. In a statement, he said the company had a very bright future. In addition, he admitted that the Golden Nugget achieved " another record-breaking quarter of revenues ". Finally, Fertitta said that thanks to newly announced partnerships in Iowa and Colorado, the company now has market access 12 US , representing approximately 29% of the population.