Golden Nugget eyes NY iGaming opportunities with Tioga Downs25th February 2021 8:06 am GMT
New York-listed Golden Nugget Online Gaming (GNOG) has signed a definitive agreement with Tioga Downs that will give it access to any future online gaming market in New York.
Subject to enabling legislation and other necessary approvals, GNOG will offer iGaming in New York under the 20-year revenue share agreement with Tioga Downs, one of only seven commercial and tribal casinos in the state.
“We are very excited to sign this long-term partnership with Jeff Gural and Tioga Downs. New York is key to our growth strategy and we look forward to the state embracing online gaming,” said GNOG president Thomas Winter.
“We will remain focused on securing new market access partners in more US states. With its iconic brand, superior product and award-winning operations, GNOG is uniquely positioned to take advantage of the exponential growth of online gaming in the US.”
Based on the latest revenue trends in New Jersey and Pennsylvania, GNOG believes that the New York online casino market could generate $2bn in gross gaming revenue at maturity.
The Tioga Downs partnership marks GNOG's 9th US market alongside New Jersey, Michigan, Pennsylvania, Illinois, West Virginia, Nevada, Mississippi and Louisiana.
“Tioga Downs is excited to partner with one of the best performing online gaming operators in the US,” said Tioga Downs owner Jeffery Gural. “GNOG has one of the most experienced online teams, a historied US casino brand and a proven track record in our neighboring state of New Jersey.
“I'm confident GNOG will bring an exciting product to my home state of New York and together we will generate excellent new revenue streams for GNOG, Tioga and the state of New York.”
Shares in Golden Nugget Online Gaming Inc (NSQ:GNOG) closed 1.6 per cent higher at $15.28 per share in New York Wednesday.