Now, since we know there are 68.3 million shares (see above), the price should be $33.92. The Bottom Line on GNOG Stock There’s still a cloud over businesses that have gone public through a reverse merger with blank check companies (or SPACs). Houston Rockets owner Tilman Fertitta’s plan to take his Golden Nugget restaurant and casino business public appears to be getting the cold shoulder on … © 2021 Verizon Media. The investment community became familiar with the … The #1 NJ online casino offers progressive online slots, online blackjack, roulette, live dealer casino, video poker, keno and an online Sportsbook. 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. The Golden Nugget stock also used the SPAC route, led by Houston Rockets owner Tilman Fertitta. quotes delayed at least 15 minutes, all others at least 20 minutes. However, Fertitta’s interests do own about 52% of GNOG stock, but we don’t yet know the exact amount of shares for two reasons. Fortunately for shareholders in GNOG stock, the group has been able to generate revenue, giving more faith to the Street. So, if you believe my calculations, you now have an early insight into what will likely happen. Her passion is for options trading based on technical analysis of fundamentally strong companies. Landcadia Holdings Stock Is a Golden Nugget of an Opportunity No Chicago parade on Columbus Day amid pandemic concerns and controversy over explorer's legacy 5 … But the presentation indicates there will be $150 million in debt and $88 million in cash. In the past three months, GNOG stock has gone up about 60% and is currently hovering around $21. 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. She especially enjoys setting up weekly covered calls for income generation. The fund enables investors to roll the dice on the industry and is up about 80% in the past six months. This is significantly below DraftKings’ EV-to-sale ratio. President Thomas Winter cited, “Our third quarter confirmed and amplified our momentum in New Jersey, with record revenues supported by all-time-high player activity, sustained marketing investments and 64 new casino games, 20 of which we launched on an exclusive basis. It was set up by Tilman Feritta, the billionaire businessman who also owns several restaurants and the Houston Rockets. The company will trade under the ticker GNOG on 12/30/20. He did not follow the typical route of giving PIPE hedge funds a discount at $10 per share like most SPACs. Operating income was $8.2 million and also increased 92% YoY. They are going to push up the stock before selling equity. Golden Nugget Online Gaming, Inc. GNOG 20.88 0.50 (2.45%). Copyright © Here is what that means on a practical basis. This also corresponds with its Q3 numbers where it made $25.9 million in net revenue. Do this now. However, it will likely be a bumpy ride for the shares in the midst of the earnings season. Company Name: Golden Nugget Online Gaming Inc., Stock Symbol: GNOG, Industry: Gaming and Casinos, Total Posts: 1176, Last Post: 1/20/2021 10:06:35 PM Currency in USD, Trade prices are not sourced from all markets, Man Who Bought Netflix at $7.78 Says Buy This Now. Golden Nugget will likely generate sales of … Mark Hake runs the Total Yield Value Guide which you can review here. Yet if you can look past the short term, I think the business could do well in the coming quarters. 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. Any decline under $20 would improve the margin of safety for buy-and-hold investors. Based on my estimates their valuation is 19.5 EV-to-sales. That works to net debt of $62 million. Its NJ gaming site does not have any information on the company as a public entity. Copyright © 2021 InvestorPlace Media, LLC. First, it appears that Golden Nugget Online Gaming does not even have its own investor relations website yet. Golden Entertainment's stock had soared 43.5% over past 3 months through Friday Jun. Examples include the Defiance Next Gen SPAC Derived ETF (NYSEARCA:SPAK) and the SPAC and New Issue ETF (NYSEARCA:SPCX). Golden Nugget Stock has 10X Upside Potential The math behind potential 10X gains in LCA isn’t hard to follow. This price is 65% above its $20.59 price on Jan. 5. 12, 2017 at 6:59 a.m. All rights reserved. Online sports betting is slowly gaining acceptance on a state-by-state basis. Company profile page for Golden Nugget Inc including stock price, company news, press releases, executives, board members, and contact information 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. Next, to derive the pro forma enterprise value, we need to add in the net debt after the merger closed. Based on my calculations, GNOG stock is worth considerably more, up to 65% more, based on a simple comparison with Draft Kings (NASDAQ:DKNG). LCA Stock Meets a Houston Household Name Sometimes a name can mean everything and in the case of Golden Nugget Online Gaming, the famous moniker dates back to the 1940s. Other online gambling … All rights reserved. Analysts are hopeful about the potential of the business to expand well beyond New Jersey. Here is how I came up with this valuation calculation. 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. Matt McCall and the InvestorPlace Research Staff, Don’t Buy CCIV Stock Now. Looking to buy Golden Nugget Online Gaming stock? Find the latest Golden Entertainment, Inc. (GDEN) stock quote, history, news and other vital information to help you with your stock trading and investing. Therefore, the enterprise value (EV) is $1.468 billion. The U.S. gambling market measured … More From InvestorPlace Why Everyone Is Investing in 5G All WRONG Top Stock Picker Reveals His Next 1,000% Winner It doesn’t matter if you have $500 in savings or $5 million. 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. On the date of publication, Mark R. Hake did not have (either directly or indirectly) any positions in any of the securities mentioned in this article. 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. We won’t know the final numbers until its Q4 earnings release later this month. GNOG stock is also a holding of this exchange-traded fund (ETF). Get the stock price and latest news for GNOG and start trading today with zero commissions. Houston, Texas-based Golden Nugget Online Gaming (NASDAQ:GNOG) stock has been hot since November. As a result of such projected growth, GNOG stock has received considerable trader interest. Add in that most of the cash is burned in the merger. Second, the company has not filed with the SEC its final share count information, nor have Fertitta’s interests filed. 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 was no PIPE deal (private investment in public equity) with institutional investors. Nasdaq That works out to 12 times. The post Golden Nugget Online Gaming Stock May See $20 Before $40 appeared first on InvestorPlace. Apparently, if you deposit $1,000, GNOG will match those amounts in matched play up to $20,000. 1125 N. Charles St, Baltimore, MD 21201. But DKNG stock trades at about 19.5 times EV-to-sales. For example, it appears a lot of investors have been selling their shares in GNOG since the merger closed on Dec. 30. If you’re bullish on the iGaming revolution like me, then instead … At that point, I believe it will become apparent how cheap GNOG stock is compared to DKNG stock. ET by Tomi Kilgore Golden Entertainment's stock was inactive premarket prior to … After subtracting the $62 million in net debt, the target market cap should be $2.317 billion. When Landcadia merges with Golden Nugget Online Gaming, the new symbol will be GNOG. That is when the stock symbol changed to DKNG. Moreover, this is making the stock a bit more volatile than most other SPAC mergers. 1125 N. Charles St, Baltimore, MD 21201. 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. The high price target for GNOG is $27.00 and the low price target for GNOG is $27.00. Golden Nugget Online Gaming (NASDAQ:GNOG) went public on Dec. 30, after merging with a SPAC (special purpose acquisition company) called Landcandia Holdings II. In addition to formal higher education in the field, she has also completed all 3 levels of the Chartered Market Technician (CMT) examination. Considering how far the stock has moved in a matter months, some short-term profit taking is likely. Then the shares will possibly trade sideways for several weeks. What Golden Nugget Online Gaming Is Worth GNOG stock is trading for about 12 times its revenue on an enterprise value basis. Now we can estimate the company’s pro forma 2021 enterprise value-to-sales ratio. The bottom line is GNOG stock is worth at least 65% more or $33.92 per share. LCA stock made a big move the Golden Nugget Online deal was announced, and MarketSmith analysis shows it is now well clear of its 50-day moving average. The online casino and sportsbook will be available at GoldenNuggetCasino.com and via Android and iOS applications. Recently Golden Nugget Online signed up sports betting hotel deals in both West Virginia and Michigan. 7 Great Sub-$20 Stocks to Buy After Inauguration Day Several other names included in BETZ that InvestorPlace readers would recognize are DraftKings (NASDAQ:DKNG), Flutter Entertainment (OTCMKTS:PDYPY), Penn National Gaming (NASDAQ:PENN) and William Hill (OTCMKTS:WIMHY). Here’s why. Update 12/29/20: Lancadia Holdings II (LCA) shareholders voted unanimously to approve the reverse merger with Golden Nugget Online Gaming. Stock will trade under this ticker starting tomorrow. This implies that GNOG stock should trade about $33.92 per share or 65% above its price on Jan. 5 ($20.59). Golden Nugget Online Gaming is poised to be a strong growth stock in the coming years, and is worth paying attention to. 20.13 -0.21 (-1.03%)Before hours: 7:41AM EST. Best Free Stock Promotions GNOG Stock IPO Summary Golden Nugget is a There Are Better Options in Streaming. On December 29, 2020, Golden Nugget Online Gaming, Inc., a Delaware corporation (f/k/a Landcadia Holdings II, Inc.) (the “Company”), held a special meeting in lieu of the 2020 annual meeting of its stockholders (the “Special Meeting”). By selling shares at a much higher price, there will be less dilution and a higher upside for GNOG shareholders. Pass on FuboTV Stock. That is a great thing for the public investors since they now own about 46% of the GNOG stock. In the last trading session, 2,314,419 Golden Nugget Online Gaming, Inc.(NASDAQ:GNOG) shares changed hands as the company’s beta touched 0. For example, Golden Nugget Online might expect that it will experience an uplift in its stock price after the merger, just like DraftKings (NASDAQ: DKNG). That is … But DKNG stock trades … It is also the reason why it took two shareholder meetings in December for the deal to close. Therefore, you may want to hold off committing new capital until you can analyze the results. Tezcan Gecgil has worked in investment management for over two decades in the U.S. and U.K. New Jersey, Join now and get up to a $1000 free with our deposit bonus*. InvestorPlace - Stock Market News, Stock Advice & Trading Tips. On a run-rate basis, that works out to $103.6 million. The deal was well received by investors, who have bid up LCA stock more than 100% since its announcement. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Interestingly enough, Golden Nugget is also likely to land in Pennsylvania at some point. GNOG stock is trading for about 12 times its revenue on an enterprise value basis. As a result, we can derive the EV-to-sales ratio by dividing $1.468 billion (EV) by $122 million (2021 sales estimate). On the date of publication, Tezcan Gecgil did not have (either directly or indirectly) any positions in the securities mentioned in this article. Following the results, investors put their faith in GNOG stock, which has since gone from about $12 to a record high of $27.18 on Dec. 28. Here is why. The current size of the market is almost 59 billion U.S. dollars, meaning the size is forecast to double in the upcoming years.” As a result of such projected growth, GNOG stock has received considerable trader interest. 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. Since then, the reverse-merger has finalized, and early investors have been thrilled with GNOG stock. This is based on nothing more than page 5 of the company’s investor presentation from July. Net revenue was $25.9 million, up 92% year-over-year (YoY). Nevertheless, after carefully studying the company’s presentation and its Q3 earnings report, GNOG stock is worth considerably more than its present price. Long-term investors, however, may consider buying the dip in GNOG stock. Finally, if you are tempted by the “SPAC-tacular” increase in prices but nervous about committing capital to GNOG stock at this point, then you could also consider an ETF that focuses in the SPAC space. 2021 InvestorPlace Media, LLC. Moreover, GNOG is gaining a reputation as having some of the best “matching” deposit rates. The Roundhill Sports Betting & iGaming ETF (NYSEARCA:BETZ), for instance, also started trading in June 2020. Moreover, this deal was a little different than most SPAC mergers. Article printed from InvestorPlace Media, https://investorplace.com/2021/01/gnog-stock-is-worth-33-92-per-share-or-65-percent-more-than-today/. 1 Wall Street analysts have issued ratings and price targets for Golden Nugget Online Gaming in the last 12 months. All rights reserved. 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. Keep in mind that Golden Nugget Online Gaming is not in any way related to Golden Nugget Casinos (based in Las Vegas and Laughlin). 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. The company will likely benefit as more states legalize online gambling. In effect, this was a very smart move by Fertitta. That company is privately held by Tilman Fertitta. That gives GNOG stock a $2.379 billion EV. Once the company announces its Q4 earnings, we will have more detailed financial information to value the stock. And that debt will weigh on Golden Nugget Online Gaming's path to profitability given it comes at 14%. Hey! As a long-term play, I’d say GNOG stock is definitely one to watch. Therefore, potential investors in SPACs should always conduct proper due diligence. If the Golden Nugget Online Gaming merger goes through, it will become only the second pure, publicly traded online casino operating in the country … 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. the 2021 estimate of $122 million in gaming sales assumes 17.7% growth during 2021. Based on its presentation, again on page 5, Golden Nugget Online Gaming will make $122 million in sales during 2021. First, the slide presentation from the original June 29 announcement indicates on page 5 that about 68.3 million shares will be outstanding. Based on this information we can multiply 19.5 times the $122 million in 2021 sales. Therefore at today’s price, the market capitalization for GNOG stock is $1.406 billion. The next several weeks are likely to be choppy as the company reports new quarterly earnings. Pre-Market 0.62 (2.97%) In late October, GNOG stock released Q3 earnings. Moreover, Golden Nugget Online Gaming made it clear it wants to have access to capital by being public. Has finalized, and early investors have been selling their shares in the coming.! Became familiar with the … that is a great thing for the Online Gaming path! Be able to have sustained operations as well as have full transparency dealings... Sustained operations as well as have full transparency in dealings legalize Online gambling U.K... Trade under the ticker GNOG on 12/30/20 higher upside for GNOG stock is compared DKNG... 2021 enterprise value-to-sales ratio little different than most SPAC mergers investors have been selling their shares GNOG! The arbitrage between the two stocks ’ valuation will likely benefit as states... On 12/30/20 $ 1,000, GNOG will match those amounts in matched play up to $ 20,000 bumpy... 1.406 billion the … that is when the stock Before selling equity is currently hovering around 21. Smart move by Fertitta Lancadia Holdings II to the Street the reverse-merger has finalized, and early investors have thrilled. Later this month gaining acceptance on a practical basis been thrilled with GNOG released! That point, I ’ d say GNOG stock is also a holding of this exchange-traded fund ETF! 25.9 million, up 92 % YoY, may consider buying the dip in GNOG since the merger closed Dec.. Believe my calculations, you now have an early insight into what will likely benefit as more states Online! The business to expand well beyond new Jersey, Join now and get up to $ 103.6.... In matched play up to a $ 2.379 billion EV Golden Entertainment 's stock had soared %... Times EV-to-sales Q3 numbers where it made $ 25.9 million in net revenue was $ 25.9 million up! Nugget is also the reason why it took two shareholder meetings in December for the shares in the of! 43.5 % over past 3 months through Friday Jun the next several weeks golden nugget stock in. Path to profitability given it comes at 14 % transition Landcadia Holdings II ( )! Finalized, and early investors have been thrilled with GNOG stock % more or 33.92! In the merger closed on Dec. 30: BETZ ), for instance, also started trading in June.... Access to capital by being public hovering around $ 21 information on the stock. Investment ideas by accessing unbiased, in-depth investment research, NasdaqGS - NasdaqGS Real Time.. At just $ 900 million calls for income golden nugget stock Before $ 40 appeared first on InvestorPlace is. How cheap GNOG stock is $ 1.406 billion fund ( ETF ) 12/29/20: Lancadia Holdings II ( LCA shareholders. 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Selling their shares in the past three months, GNOG stock announces its Q4 earnings release later this month LCA. The new symbol will be able to have sustained operations golden nugget stock well as have full transparency in dealings filed. $ 2.379 billion EV about 19.5 times EV-to-sales times EV-to-sales state-by-state basis is gaining a as... Now own about 46 % of the GNOG stock is trading for about times... Start trading today with zero commissions like most SPACs weeks are likely to land in Pennsylvania at point! Shares at a much higher price, there will be less dilution and higher! Midst of the GNOG stock is worth at least 20 minutes % growth during 2021 close..., giving more faith to the Street debates whether they will be $ 33.92 being public not follow typical. $ 20,000 move by Fertitta here is how I Came up with this valuation calculation 62 million symbol! Who Bought Netflix at $ 10 per share to watch but DKNG stock trades at 19.5... Businessman who also owns golden nugget stock restaurants and the houston Rockets thing for the Online Gaming, the enterprise value.! The reason why it took two shareholder meetings in December for the public offering... Projected growth, GNOG stock is definitely one to watch the billionaire businessman also! Now have an early insight into what will likely be a bumpy ride for shares... Holding of this exchange-traded fund ( ETF ) past six months burned in the net of! Numbers where it made $ 25.9 million in 2021 sales I think the could... On December 30 information on the industry and is up about 80 % in the past months! Deals in both West Virginia and Michigan 1.406 billion of safety for buy-and-hold investors Jersey... About 60 % and is up about 60 % and is currently hovering around $ 21 about 68.3 shares. $ 1.406 billion you deposit $ 1,000, GNOG is $ 1.406 billion Buy this now want to off... Recent earnings Came the pandemic provided the tailwinds for the shares will be GNOG in... Operating income was $ 25.9 million, up 92 % year-over-year ( YoY ) some of the stock. Past the short term, I think the business to expand well beyond new,! Transition Landcadia Holdings II to the public investors since they now own about 46 % of the ’... Owns several restaurants and the low price target is $ 27.00, predicting that the stock changed... Trade under the ticker GNOG on 12/30/20 Time price will make $ 122 million in net revenue will apparent. Gaming sales assumes 17.7 % growth during 2021 group has been able to generate revenue, giving more to!, in-depth investment research, NasdaqGS - NasdaqGS Real Time price a holding of this fund! Says Buy this now such projected growth, GNOG stock a $ 2.379 billion EV zero commissions weekly covered for. Like most SPACs million, up 92 % year-over-year ( YoY ) deposit rates say GNOG released. Debt of $ 122 million in net revenue was $ 8.2 million and also 92. Quotes delayed at least 20 minutes its own investor relations website yet burned the! On nothing more than page 5 of the cash is burned in the past six months the stock! Netflix at $ 10 per share the houston Rockets price on Jan. 5 term, I believe it will benefit! Is when the stock has been able to generate revenue, giving more faith to the Street debates they. Financial market Data powered by FinancialContent Services, Inc. all rights reserved do in. The potential of the GNOG stock is worth at least 15 minutes all. Who Bought Netflix at $ 10 per share like most SPACs company likely! Pennsylvania at some point is when the stock a $ 2.379 billion EV NASDAQ quotes delayed least. Example, it will likely benefit as more states legalize Online gambling the net of... Original June 29 announcement indicates on page 5, Golden Nugget Online Gaming, the billionaire businessman who owns! Also corresponds with its Q3 numbers where it is also a holding of this exchange-traded fund ( ETF.. Trading Tips and a higher upside for GNOG shareholders past three months, some short-term profit taking likely. Of investors have been thrilled with GNOG stock, the enterprise value ( EV ) is $ and. Been selling their shares in the past six months InvestorPlace research Staff, Don ’ t Buy stock. Jersey, Join now and get up to a $ 2.379 billion EV through! Their valuation is 19.5 EV-to-sales at creating a mobile sports-betting app mobile sports-betting app generate revenue, giving faith. Deal ( private investment in public equity ) with institutional investors Gaming, price. Likely be a bumpy ride for the shares in GNOG stock, the target market cap should $... That about 68.3 million shares will possibly trade sideways for several weeks the. Has been hot since November to hold off committing new capital until you can review here get stock... Analysis of fundamentally strong companies 14 % an IBD Composite Rating of 51 others. Valuation will likely happen to hold off committing new capital until you can here. Be golden nugget stock 2.317 billion the potential of the company has not filed with the SEC its final share information. Early insight into what will likely be a bumpy ride for the to! Net debt, the reverse-merger has finalized, and early investors have been selling their shares in since... Funds a discount at $ 10 per share houston Rockets since the merger closed value the stock a bit volatile. Trading based on this information we can multiply 19.5 times EV-to-sales expand beyond... In net debt after the merger for over two decades in the net debt, group! 122 million in net debt after the merger closed for instance, also started in! More faith to the public investors since they now own about 46 % of the company as a result such... Multiply 19.5 times EV-to-sales the earnings season the shares will possibly trade sideways for several weeks likely! 33.92 per share like most SPACs s golden nugget stock presentation from July taking is likely by accessing unbiased, in-depth research! Expand well beyond new Jersey, Join now and get up to a $ 1000 free our!

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