Golden Nugget’s Online Casino Has Found A Home In Michigan
- The Golden Nugget will be expanding their internet presence of casino and sportsbook gaming into Michigan and Pennsylvania soon as they’ve only conducted online gambling in New Jersey.
- The company will also be joining NASDAQ for the online sector which has an estimated worth of $745 million.
DETROIT – The Golden Nugget’s online casino and sportsbook will be entering the Michigan marketplace tentatively in 2021.
The New Jersey internet gaming operator announced Thursday that they are finally branching their way out beyond the Garden State having struck up a new partnership with the Keweenaw Bay Indian Community who has two locations in Michigan with the Ojibwa Casino brand.
While the Golden Nugget has made a name for themselves as a retail establishment, their online business has not been quite as lucrative in New Jersey. Although, it has done leaps and bounds above other names in the online casino industry for the state.
However, their internet sportsbook has not done as well as others in N.J. This expansion is an effort to get their online presence to become as big in scale and popularity as their land-based presence has.
The Partnership In Michigan
Being in business as a prominent casino since their opening in 1946, the Golden Nugget has seen that the internet is the newest and soon to be one of the most popular ways for gamblers to play.
As it stands, sportsbooks that offer mobile and internet platforms receive the bulk of their bets via these outlets.
The Michigan launch for the Golden Nugget is looking toward the first quarter for 2021 to roll out to the public. They will be offering Michiganders both casino and sports betting online gaming platforms.
The Future Of The Golden Nugget
The company has not only partnered in Michigan but has applied for licenses to operate in Pennsylvania as well. This will amount to three states that will help broaden their fanbase online.
They want to boost their name and status with gamblers on the internet as it’s the future of all kinds of gambling. An expansion to other states will allow them to appeal to a larger scope of people.
Not only is the Golden Nugget moving forward in other areas of the nation but they soon will be joining the NASDAQ exchange with the iGaming part of their company. The Golden Nugget Online Gambling (GNOG) is currently working with Landcadia II to be a publicly owned and operated business for only their internet sector.
DraftKings joined the exchange earlier this year in a similar fashion. Entering the market, GNOG has an estimated value of $745 million.
While it hasn’t been doing the best online business, all of these ventures are meant to help them catapult beyond their brick and mortar facilities revenue numbers.
They expect that their internet casinos should bring in more money on a monthly basis than that of their retail locations and seven times the amount of money wagered by their internet sportsbook players.
They believe each of their loyal members profits them $7,700 a person on average over a five-year span of gambling. That’s beyond three times the amount that DraftKings $2,400 estimate per customer has recorded in the same timeframe.
The Golden Nugget Online Gambling division of the company has big plans for the future and their Michigan announcement is just the beginning.