Golden Nugget On-line Sport Colours New York Market Entry Take care of Tioga Downs
HOUSTON, February 24, 2021 / PRNewswire / – Golden Nugget Online Gaming, Inc. (Nasdaq: GNOG) announced today that it has entered into a definitive agreement with Tioga Downs Race Track, LLC. (“Tioga Downs“) for future access to the state’s online gaming market new York, subject to law, government approval, license eligibility, and availability.
After a record year in New Jersey and his most recent start in MichiganThis agreement gives the GNOG market access to the state new York for online casino bets under a Tioga Downs’ License, if the regulations allow it. Under the 20-year contract, GNOG pays Tioga Downs, one of only seven commercial and tribal casinos in the state, a percentage of its net gaming revenue that has minimum fees paid for the term.
With almost 19.5 million inhabitants new York is the fourth largest state in the USA. Based on the latest sales trends in New Jersey and PennsylvaniaGNOG believes the new York Online casino market could reach $ 2 billion Gross gaming revenue at maturity. new York is the 9th state in which GNOG has gained market access in the last few months, provided that regulations and licenses allow this. about New Jersey, Michigan, Pennsylvania, Illinois, West Virginia, Nevada, Mississippi, Louisiana and new YorkGNOG’s total addressable US online sports betting and casino market is now estimated at approximately $ 10 billion when due.
Thomas WinterThe President of GNOG stated: “We are very excited to be part of this long-term partnership Jeff Gural and Tioga Downs. new York is key to our growth strategy and we look forward to the state dealing with online gaming. We will continue to focus on gaining new market access partners in more US states. With its iconic brand, superior product and award-winning activities, GNOG is uniquely positioned to capitalize on the exponential growth of online gaming in the United States. “
“”Tioga Downs is proud to partner with one of the top performing online gaming providers in the United States. GNOG has one of the most experienced online teams, a historic US casino brand, and a proven track record in our neighboring state New Jersey, “said Tioga Downs owner Jeffery Guraland added, “I am confident that GNOG will bring an exciting product to my home state new York and together we will generate great new revenue streams for GNOG, Tioga, and the state new York. ”
Golden Nugget Online Gaming is a leading online gaming company, considered a market leader by its peers, and the first company to bring Live Dealer and Live Casino Floor to market The United States Online gaming market. GNOG received 15 eGaming Review North America Awards, including the coveted Operator of the Year award in 2017, 2018, 2019 and 2020.
about Tioga Downs
Tioga Downs, which opened in 2006 and expanded into the Tioga Downs Casino Resort in December 2016features live harness racing, casino games, dining, golf, live indoor and outdoor entertainment, and more. Jeff Gural owns Tioga Downs as well as Vernon Downs in the Vernon, New York. Since the new resort opened in December 2016, Tioga Downs has expanded its range of games to include 892 slot machines, 28 table games and a poker room with 6 tables. The Tioga Downs Casino Resort Hotel extends over seven floors and has 160 rooms, an event center, a full-service AgeLess spa, an indoor saltwater pool and whirlpool, an arcade and fitness room, and many other exciting seasonal amenities such as an outdoor saltwater pool and hot tub with cabanas and a private cabana bar (for hotel guests), an outdoor waterslide and plunge pool, and an 18-hole Tioga golf course just minutes down the road. The resort also offers a wide variety of restaurants including the famous County Fair Buffet. Virgil’s Real BBQ and PJ Clarkes, among other. Tioga Downs and Vernon Downs have created more than 1,000 family-sustaining jobs and donated millions to charitable organizations. For more information about the Tioga Downs Casino Resort, please visit www.tiogadowns.com.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act about us and our industry that involve significant risks and uncertainties. All statements other than statements of historical fact contained in this press release, including statements regarding market access to the state new York, Guidance, our expected operating or financial results, business strategies and plans, user growth and retention, product initiatives and management goals for future operations, and the impact of COVID-19 on our business and the economy at large; are forward-looking statements. In some instances, you may identify forward-looking statements because they contain words such as “anticipate”, “believe”, “consider”, “continue”, “may”, “estimate”, “expect”, “expect”. forecast, “go”, “intend”, “can”, “plan”, “potentially”, “predict”, “project”, “propose”, “should”, “aim”, “will” or “would” or the negative of these words or other similar terms or expressions. We caution you that the foregoing may not contain all forward-looking statements in this press release.
You should not rely on forward-looking statements as predictions of future events. We have based the forward-looking statements in this press release primarily on our current expectations and projections of future events and trends that we believe may affect our business, financial condition, results of operations and prospects. These forward-looking statements are not guarantees of future performance, conditions, or results and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of GNOG and which could cause actual results or results to vary materially of those discussed in the forward-looking statements. Important factors that could affect actual results or results, among other things, include the inability to gain market access to the state new York due to the failure of the New York State Legislators to pass the laws necessary for GNOG to run its business; Costs related to the business combination; the inability to maintain the listing of GNOG shares on the Nasdaq; GNOG’s inability to obtain license approval even if appropriate legislation is passed; GNOG’s ability to direct growth; GNOG’s ability to execute its business plan and deliver on its projections; potential litigation with GNOG; Changes in applicable laws or regulations, particularly those relating to games general economic and market conditions affecting the demand for GNOG products and services, and in particular economic and market conditions in the media, entertainment, games and software industries in the markets in which GNOG operates; the potential adverse effects of the ongoing global coronavirus pandemic (COVID-19) on capital markets, general economic conditions, unemployment and liquidity, operations and personnel of GNOG, and the risks, uncertainties and other factors discussed in the section ” Risk factors “are described” in GNOG’s filings with the SEC, which are available on the SEC’s website at www.sec.gov Additional information is made available in other filings that we from time to time file with the SEC In addition, all forward-looking statements contained in this press release are based on assumptions that we believe are reasonable at the current time and we assume no obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of new information unexpected events, including future developments in connection with the COVID-19 pandemic, unless required by law.
SOURCE Golden Nugget Online Gaming, Inc.