Assuming that the market size is $30 billion and the company has a market share of 5%, potential revenue visibility is $1.5 billion. iGaming market will be worth $30 to $37 billion at maturity. There are various factors that point to sustained revenue growth.įirst and foremost, Golden Nugget estimates that the U.S. At the mid-point of guidance, top-line growth will be 51%. Meanwhile, adjusted EBITDA for the full year was $28.9 million, which implies a healthy EBITDA margin of 32%.įor 2021, the company has guided for revenue in the range of $130 to $145 million. Golden Nugget reported revenue of $91.1 million for FY2020, reflecting a 64.4% gain from the previous year. Golden Nugget Positioned For Sustained Growth Let’s discuss some of the potential growth catalysts. With this in mind, sustained upside seems very likely over the medium-term. Katz believes that the “iGaming market has not been fully appreciated by the Street.” Currently, shares are changing hands for $13.55 apiece.Īs for the analyst community, Jefferies’ David Katz recently initiated coverage on Golden Nugget with a Buy rating and set a $28 price target (107% upside potential). In terms of the stock price action, GNOG surged to $26.24 at the end of 2020 before reaching a low of $12.80 at the end of March.
