If the Golden Nugget Online Gaming merger goes through, it will become only the second pure, publicly traded online casino operating in the country … In addition to formal higher education in the field, she has also completed all 3 levels of the Chartered Market Technician (CMT) examination. Interestingly enough, Golden Nugget is also likely to land in Pennsylvania at some point. Second, the company has not filed with the SEC its final share count information, nor have Fertitta’s interests filed. On a run-rate basis, that works out to $103.6 million. Therefore, the enterprise value (EV) is $1.468 billion. Currency in USD, Trade prices are not sourced from all markets, Man Who Bought Netflix at $7.78 Says Buy This Now. This price is 65% above its $20.59 price on Jan. 5. The investment community became familiar with the company in June 2020, when Landcadia Holdings II, a special purpose acquisition company (SPAC), announced it would be merging with Golden Nugget Online Gaming, a privately held company at the time. Following the closing of the merger, Landcadia Holdings plans to change the name of the combined company to Golden Nugget Online Gaming and to change its ticker symbol to GNOG. That is when the stock symbol changed to DKNG. Therefore, assuming both companies should have a similar or fairly similar valuation as the only two online gaming stocks, GNOG should move up in value. The investment community became familiar with the … Based on its presentation, again on page 5, Golden Nugget Online Gaming will make $122 million in sales during 2021. Pass on FuboTV Stock. The fund enables investors to roll the dice on the industry and is up about 80% in the past six months. Considering how far the stock has moved in a matter months, some short-term profit taking is likely. However, it will likely be a bumpy ride for the shares in the midst of the earnings season. Their average twelve-month price target is $27.00, predicting that the stock has a possible upside of 31.51%. Here is why. Source: NYCStock / Shutterstock.com InvestorPlace - Stock Market News, Stock Advice & Trading Tips According to recent industry metrics, “The global online gambling market is anticipated to be valued at more than 92.9 billion U.S. dollars in 2023. How Recent Earnings Came The pandemic provided the tailwinds for the online gaming industry. Discover new investment ideas by accessing unbiased, in-depth investment research, NasdaqGS - NasdaqGS Real Time Price. In late October, GNOG stock released Q3 earnings. Long-term investors, however, may consider buying the dip in GNOG stock. By selling shares at a much higher price, there will be less dilution and a higher upside for GNOG shareholders. Copyright © 2021 InvestorPlace Media, LLC. Golden Nugget will likely generate sales of … Add in that most of the cash is burned in the merger. 12, 2017 at 6:59 a.m. Net revenue was $25.9 million, up 92% year-over-year (YoY). First, the slide presentation from the original June 29 announcement indicates on page 5 that about 68.3 million shares will be outstanding. The #1 NJ online casino offers progressive online slots, online blackjack, roulette, live dealer casino, video poker, keno and an online Sportsbook. The Roundhill Sports Betting & iGaming ETF (NYSEARCA:BETZ), for instance, also started trading in June 2020. Next, to derive the pro forma enterprise value, we need to add in the net debt after the merger closed. That is … This is significantly below DraftKings’ EV-to-sale ratio. 14 Things to Know About EV Play Evergrande Auto >>>, Golden Nugget Online Gaming Is Now Public and Worth Up to 65% More, page 5 of the company’s investor presentation, 7 Hot Stocks to Buy Now Before They Take Off, about 68.3 million shares will be outstanding, some of the best “matching” deposit rates, wants to have access to capital by being public, The 7 Best Dividend Stocks To Buy On The Market Today, Louis Navellier and the InvestorPlace Research Staff, 3 EV Charging Stocks to Buy for Huge Gains in the 2020s. What Golden Nugget Online Gaming Is Worth GNOG stock is trading for about 12 times its revenue on an enterprise value basis. That company is privately held by Tilman Fertitta. Based on the LCA stock price today, Golden Nugget is being valued at just $900 million. But DKNG stock trades … Matt McCall and the InvestorPlace Research Staff, Don’t Buy CCIV Stock Now. Online sports betting is slowly gaining acceptance on a state-by-state basis. All rights reserved. the 2021 estimate of $122 million in gaming sales assumes 17.7% growth during 2021. The online casino and sportsbook will be available at GoldenNuggetCasino.com and via Android and iOS applications. Golden Nugget Online Gaming (Nasdaq: GNOG) has received authorization from the Michigan Gaming Control Board (MGCB) to start offering its Online Casino and Sportsbook at 12pm Eastern, Friday, January 22nd, 2021. That gives GNOG stock a $2.379 billion EV. Do this now. This also corresponds with its Q3 numbers where it made $25.9 million in net revenue. 20.13 -0.21 (-1.03%)Before hours: 7:41AM EST. All rights reserved. At that point, I believe it will become apparent how cheap GNOG stock is compared to DKNG stock. Tezcan Gecgil has worked in investment management for over two decades in the U.S. and U.K. As a long-term play, I’d say GNOG stock is definitely one to watch. But the presentation indicates there will be $150 million in debt and $88 million in cash. The post Golden Nugget Online Gaming Stock May See $20 Before $40 appeared first on InvestorPlace. Fertitta helped transition Landcadia Holdings II to the public GNOG offering on December 30. Wall Street legend Whitney Tilson says there's a huge new tech trend coming – and he's giving away his top pick for free right here. Based on our October revenues, we believe that we could generate over $100 million of Gross Gaming Revenue in New Jersey this year.” Wall Street saw his words as indication that the company would not shy away from developing the company further. Analysts are hopeful about the potential of the business to expand well beyond New Jersey. So, if you believe my calculations, you now have an early insight into what will likely happen. In the past three months, GNOG stock has gone up about 60% and is currently hovering around $21. The stock has an IBD Composite Rating of 51. Here’s why. Find the latest Golden Nugget Online Gaming, In (GNOG) stock quote, history, news and other vital information to help you with your stock trading and investing. The arbitrage between the two stocks’ valuation will likely quickly close. Golden Nugget stock is a buy based on the strong growth outlook. Mark Hake runs the Total Yield Value Guide which you can review here. The company will likely benefit as more states legalize online gambling. Here is how I came up with this valuation calculation. Based on my estimates their valuation is 19.5 EV-to-sales. But Pounce on the Lucid Motors Merger, Top SPAC Merger News This Week: Lucid Motors, EVgo, Joby Aviation and 7 More Hot SPACs, 7 Dividend Aristocrats That Will Outlive Us All, 7 Growth Stocks in The S&P’s Hottest Sectors That Are Primed to Explode, How the Internet Sent GameStop Stock Up 1,000% — And Where It’s Going Next. He did not follow the typical route of giving PIPE hedge funds a discount at $10 per share like most SPACs. Then the shares will possibly trade sideways for several weeks. Article printed from InvestorPlace Media, https://investorplace.com/2021/01/gnog-stock-is-worth-33-92-per-share-or-65-percent-more-than-today/. The company Golden Nugget is owned by Tilman Fertitta and privately held Fertitta Entertainment.Lancadia II is a publicly traded special purpose acquisition company co … There Are Better Options in Streaming. This would likely increase revenue substantially, as it would allow players to bet on the move, especially as people spend more time on their phones than on the computer these days. How Recent earnings Came the pandemic provided the tailwinds for the public GNOG offering on December 30 of! Selling shares at a much higher price, the enterprise value ( EV is! 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