Golden Nugget revenue jumps by almost 50 percent in H1 ’21
While 2021 is proving to be a brutal slog for large numbers of world citizens, it’s an absolutely fabulous time to be Golden Nugget chairman and chief executive, Tilman Fertitta. Fertitta’s land-based properties saw an H1 2021 revenue jump of nearly percent over annus horribilis 2020. Revenue over at Golden Nugget Online Gaming, which as of last month is no longer part of the company, saw its revenue leap by nearly 40 percent.
For the first six months of 2021, the Golden Nugget hauled in $1.58 billion across its various properties. That’s up 49.6 percent over H1 2020; which did include two full months of normal ops before shutdown.
Once taxes, expenses and interest were paid out, the Golden Nugget got to keep approximately $440.1 million of the original $1.58 billion. While that’s a large amount of cash to bring at any time, it’s a huge leap over the $17.2 million in losses the Golden Nugget reported during H1 2020.
In a statement reported on by iGaming Business, Golden Nugget chairman and chief executive, Tilman Fertitta dryly explained the good news saying, “We continue to perform at a very high level and are very pleased with the second quarter results. We expect to deliver at least $800.0 million adjusted EBTIDA for the year. I look forward to completing the merger with Fast Acquisition Corp following receipt of regulatory approvals.”
The Golden Nugget’s online gaming arm, Golden Nugget Online Gaming, was recently sold off to DraftKings for $1.56 billion in DraftKing’s stock. Fertitta took home about $700 million in shares for his share of the deal.
Tags: Land-based Casinos