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GNOG, or Golden Nugget Online Gaming, is the online casino operated by Golden Nugget, a gambling operator based in the US with brick-and-mortar casino locations in cities including Las Vegas, Atlantic City, Biloxi, Laughlin, and Lake Charles. The company also has a brand-new mobile app for Golden Nugget customers.

Golden Nugget’s first casino joint venture

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Golden Nugget Online Gaming (GNOG) has announced its entry into the Illinois gambling market through a partnership with Danville Development, LLC. The two companies will create a joint venture with Wilmot Gaming Illinois, LLC, which will build a casino in Danville, Illinois, about 140 miles south of Chicago on the Indiana border.

Danville Development itself is a joint venture between Wilmot and GN Danville, LLC, the latter a subsidiary of Golden Nugget.

The property will house a Landry’s steakhouse, which makes sense considering Landry’s owns the Golden Nugget, along with about 600 different properties in the restaurant and hospitality industries.

we are honored to be the one selected”

“This is Golden Nugget’s first joint venture on a casino project, and we are honored to be the one selected amongst numerous bidders for this opportunity by the Wilmot family after a highly competitive process,” said Golden Nugget owner and CEO Tilman Fertitta in Thursday’s announcement.

Eye on the online gambling prize

While Golden Nugget will construct a brick-and-mortar casino, the ultimate goal is arguably to gain an online gaming foothold in the state. Based on current estimates, Illinois is the sixth-largest state in terms of population in the US (GNOG says it is fifth, but that may be based on the 2010 census), making it an extremely attractive internet gambling market.

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GNOG plans to launch an online sports betting operation, saying it has the “exclusive right” to offer said services with the new casino. Should online casino games become legal in the future, it will host those, as well.

Golden Nugget has consistently been the online casino market leader in New Jersey. In October, it brought in $28.1m in revenue, the fourth-best month it has ever had, accounting for 30% of the state’s market share. The company’s record month was this past July, when it generated $31.5m in online casino revenue.

Currently, land-based casinos in Illinois are eligible to apply for sports betting licenses, but they are permitted to partner with established technology providers for their on-site and mobile products. Right now, there are five mobile betting apps available to people in Illinois: BetRivers, DraftKings, FanDuel, PointsBet, and William Hill. Late next year, three online-only licenses will be up for grabs.

Golden Nugget going public

This summer, Golden Nugget Online Gaming announced that it is going public. It will become the second “pure” online gaming company to become publicly traded, following GAN, which did so in May.

Landcadia will change its name to Golden Nugget Online Gaming

To go public, GNOG is being acquired by Landcadia Holdings II, a special purpose acquisition company (SPAC). Landcadia is publicly traded under the ticker LCA. Its purpose, like any “blank check company,” is to raise funds to buy a company and take it public. When the acquisition is completed, Landcadia will change its name to Golden Nugget Online Gaming and its ticker will become GNOG.

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Landcadia Holdings II was created by Fertitta Entertainment, the holding company for the companies owned by Tilman Fertitta, and Jeffries Financial Group. Fertitta will continue as chairman and CEO of GNOG once the deal is finalized and the company goes public.

DraftKings used the same method to go public in April, when it and SBTech were acquired by a SPAC called Diamond Eagle Acquisition Corp.
Online Casinos Like Golden Nugget

Golden Nugget Online Gaming, the online subsidiary of the Golden Nugget chain of casinos owned and operated by Landry’s Incorporated, has sealed a market access deal in Michigan.

The operator, which is in the process of spinning off from Landry’s and listing on the Nasdaq stock exchange, has partnered the Keweenaw Bay Indian Community, operator of Ojibwa Casino.

This facilitates the launch of the operator’s online casino and sportsbook in Michigan. The operator is in the process of expanding beyond its core market of New Jersey, where it has carved out a market-leading position in online casino.

The business is also eyeing a move into Pennsylvania’s igaming market early in 2021.

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“Golden Nugget Online Gaming is thrilled to partner with the Ojibwa Casino to provide casino players in Michigan with a premium online casino and sportsbook experience,” Golden Nugget Online Gaming president Thomas Winter said.

“Players in Michigan will be able to appreciate our award winning product offering and exceptional customer service from a nationally recognised and trusted brand.”

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Read the full story on iGB North America.