golden nugget stock
Hey! For example, it appears a lot of investors have been selling their shares in GNOG since the merger closed on Dec. 30. How Recent Earnings Came The pandemic provided the tailwinds for the online gaming industry. Update 12/29/20: Lancadia Holdings II (LCA) shareholders voted unanimously to approve the reverse merger with Golden Nugget Online Gaming. And that debt will weigh on Golden Nugget Online Gaming's path to profitability given it comes at 14%. Golden Nugget Online Gaming, Inc. GNOG 20.88 0.50 (2.45%). 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. So, if you believe my calculations, you now have an early insight into what will likely happen. Examples include the Defiance Next Gen SPAC Derived ETF (NYSEARCA:SPAK) and the SPAC and New Issue ETF (NYSEARCA:SPCX). This is going to make online gaming extremely popular in the states where it is approved. This implies that GNOG stock should trade about $33.92 per share or 65% above its price on Jan. 5 ($20.59). The company will trade under the ticker GNOG on 12/30/20. If the Golden Nugget Online Gaming merger goes through, it will become only the second pure, publicly traded online casino operating in the country … The company will likely benefit as more states legalize online gambling. Considering how far the stock has moved in a matter months, some short-term profit taking is likely. 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. GNOG stock is trading for about 12 times its revenue on an enterprise value basis. But DKNG stock trades at about 19.5 times EV-to-sales. 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. She especially enjoys setting up weekly covered calls for income generation. The bottom line is GNOG stock is worth at least 65% more or $33.92 per share. Based on my calculations, GNOG stock is worth considerably more, up to 65% more, based on a simple comparison with Draft Kings (NASDAQ:DKNG). What Golden Nugget Online Gaming Is Worth GNOG stock is trading for about 12 times its revenue on an enterprise value basis. The high price target for GNOG is $27.00 and the low price target for GNOG is $27.00. 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”). Any decline under $20 would improve the margin of safety for buy-and-hold investors. Apparently, if you deposit $1,000, GNOG will match those amounts in matched play up to $20,000. Yet if you can look past the short term, I think the business could do well in the coming quarters. 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. 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. The next several weeks are likely to be choppy as the company reports new quarterly earnings. That is when the stock symbol changed to DKNG. Looking to buy Golden Nugget Online Gaming stock? The post Golden Nugget Online Gaming Stock May See $20 Before $40 appeared first on InvestorPlace. 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). It was set up by Tilman Feritta, the billionaire businessman who also owns several restaurants and the Houston Rockets. 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 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. With the company’s most recent per share price at $20.47 changing hands around -$0.22 or -0.01% at last … 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. Other online gambling … 2021 InvestorPlace Media, LLC. ET by Tomi Kilgore Golden Entertainment's stock was inactive premarket prior to … The deal was well received by investors, who have bid up LCA stock more than 100% since its announcement. That is a great thing for the public investors since they now own about 46% of the GNOG stock. Golden Nugget will likely generate sales of … Best Free Stock Promotions GNOG Stock IPO Summary Golden Nugget is a Add in that most of the cash is burned in the merger. That is … Therefore at today’s price, the market capitalization for GNOG stock is $1.406 billion. Their average twelve-month price target is $27.00, predicting that the stock has a possible upside of 31.51%. Second, the company has not filed with the SEC its final share count information, nor have Fertitta’s interests filed. First, it appears that Golden Nugget Online Gaming does not even have its own investor relations website yet. 1125 N. Charles St, Baltimore, MD 21201. 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 … 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. Golden Nugget Online Gaming (NASDAQ:GNOG) went public on Dec. 30, after merging with a SPAC (special purpose acquisition company) called Landcandia Holdings II. 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. Operating income was $8.2 million and also increased 92% YoY. The fund enables investors to roll the dice on the industry and is up about 80% in the past six months. 12, 2017 at 6:59 a.m. All rights reserved. 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 … However, I believe analysts need to see more positive news in the next earnings report before another leg up in the shares can begin. Based on my estimates their valuation is 19.5 EV-to-sales. 1 Wall Street analysts have issued ratings and price targets for Golden Nugget Online Gaming in the last 12 months. Golden Nugget stock is a buy based on the strong growth outlook. Based on its presentation, again on page 5, Golden Nugget Online Gaming will make $122 million in sales during 2021. There was no PIPE deal (private investment in public equity) with institutional investors. Moreover, this deal was a little different than most SPAC mergers. Here is what that means on a practical basis. That gives GNOG stock a $2.379 billion EV. Nasdaq In addition to formal higher education in the field, she has also completed all 3 levels of the Chartered Market Technician (CMT) examination. Get the stock price and latest news for GNOG and start trading today with zero commissions. At that point, I believe it will become apparent how cheap GNOG stock is compared to DKNG stock. Keep in mind that Golden Nugget Online Gaming is not in any way related to Golden Nugget Casinos (based in Las Vegas and Laughlin). The stock has an IBD Composite Rating of 51. Nevertheless, after carefully studying the company’s presentation and its Q3 earnings report, GNOG stock is worth considerably more than its present price. Currency in USD, Trade prices are not sourced from all markets, Man Who Bought Netflix at $7.78 Says Buy This Now. Article printed from InvestorPlace Media, https://investorplace.com/2021/01/gnog-stock-is-worth-33-92-per-share-or-65-percent-more-than-today/. 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. Copyright © 2021 InvestorPlace Media, LLC. Long-term investors, however, may consider buying the dip in GNOG stock. A golden ticket Landcadia is trying to bring Golden Nugget Online Gaming (GNOG) public through the merger with the SPAC, a maneuver that has gained popularity this … 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. Here is how I came up with this valuation calculation. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. That company is privately held by Tilman Fertitta. Pass on FuboTV Stock. The #1 NJ online casino offers progressive online slots, online blackjack, roulette, live dealer casino, video poker, keno and an online Sportsbook. The U.S. gambling market measured … Its NJ gaming site does not have any information on the company as a public entity. 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). First, the slide presentation from the original June 29 announcement indicates on page 5 that about 68.3 million shares will be outstanding. Analysts are hopeful about the potential of the business to expand well beyond New Jersey. Discover new investment ideas by accessing unbiased, in-depth investment research, NasdaqGS - NasdaqGS Real Time Price. Here’s why. 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. 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. Recently Golden Nugget Online signed up sports betting hotel deals in both West Virginia and Michigan. 1125 N. Charles St, Baltimore, MD 21201. In effect, this was a very smart move by Fertitta. But the presentation indicates there will be $150 million in debt and $88 million in cash. Houston, Texas-based Golden Nugget Online Gaming (NASDAQ:GNOG) stock has been hot since November. This is based on nothing more than page 5 of the company’s investor presentation from July. Moreover, this is making the stock a bit more volatile than most other SPAC mergers. Stock will trade under this ticker starting tomorrow. © 2021 Verizon Media. quotes delayed at least 15 minutes, all others at least 20 minutes. This is significantly below DraftKings’ EV-to-sale ratio. 20.13 -0.21 (-1.03%)Before hours: 7:41AM EST. That works to net debt of $62 million. Moreover, Golden Nugget Online Gaming made it clear it wants to have access to capital by being public. GNOG is also looking at creating a mobile sports-betting app. Fertitta helped transition Landcadia Holdings II to the public GNOG offering on December 30. As a long-term play, I’d say GNOG stock is definitely one to watch. The Street debates whether they will be able to have sustained operations as well as have full transparency in dealings. Her passion is for options trading based on technical analysis of fundamentally strong companies. But DKNG stock trades … 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. InvestorPlace - Stock Market News, Stock Advice & Trading Tips. the 2021 estimate of $122 million in gaming sales assumes 17.7% growth during 2021. GNOG stock is also a holding of this exchange-traded fund (ETF). On a run-rate basis, that works out to $103.6 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. Golden Entertainment's stock had soared 43.5% over past 3 months through Friday Jun. After subtracting the $62 million in net debt, the target market cap should be $2.317 billion. Copyright © When Landcadia merges with Golden Nugget Online Gaming, the new symbol will be GNOG. On the date of publication, Tezcan Gecgil did not have (either directly or indirectly) any positions in the securities mentioned in this article. The arbitrage between the two stocks’ valuation will likely quickly close. Do this now. All rights reserved. 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. It is also the reason why it took two shareholder meetings in December for the deal to close. 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. Matt McCall and the InvestorPlace Research Staff, Don’t Buy CCIV Stock Now. In the past three months, GNOG stock has gone up about 60% and is currently hovering around $21. Now we can estimate the company’s pro forma 2021 enterprise value-to-sales ratio. Find the latest Golden Entertainment, Inc. (GDEN) stock quote, history, news and other vital information to help you with your stock trading and investing. There Are Better Options in Streaming. Fortunately for shareholders in GNOG stock, the group has been able to generate revenue, giving more faith to the Street. This price is 65% above its $20.59 price on Jan. 5. Golden Nugget Stock has 10X Upside Potential The math behind potential 10X gains in LCA isn’t hard to follow. New Jersey, Join now and get up to a $1000 free with our deposit bonus*. He did not follow the typical route of giving PIPE hedge funds a discount at $10 per share like most SPACs. The Golden Nugget stock also used the SPAC route, led by Houston Rockets owner Tilman Fertitta. In late October, GNOG stock released Q3 earnings. Golden Nugget Online Gaming is poised to be a strong growth stock in the coming years, and is worth paying attention to. Net revenue was $25.9 million, up 92% year-over-year (YoY). Therefore, you may want to hold off committing new capital until you can analyze the results. 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. By selling shares at a much higher price, there will be less dilution and a higher upside for GNOG shareholders. 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. Pre-Market 0.62 (2.97%) Moreover, GNOG is gaining a reputation as having some of the best “matching” deposit rates. Based on the LCA stock price today, Golden Nugget is being valued at just $900 million. 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 … Therefore, the enterprise value (EV) is $1.468 billion. 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. Interestingly enough, Golden Nugget is also likely to land in Pennsylvania at some point. Online sports betting is slowly gaining acceptance on a state-by-state basis. The investment community became familiar with the … Once the company announces its Q4 earnings, we will have more detailed financial information to value the stock. They are going to push up the stock before selling equity. The Roundhill Sports Betting & iGaming ETF (NYSEARCA:BETZ), for instance, also started trading in June 2020. 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. That works out to 12 times. This also corresponds with its Q3 numbers where it made $25.9 million in net revenue. However, it will likely be a bumpy ride for the shares in the midst of the earnings season. Tezcan Gecgil has worked in investment management for over two decades in the U.S. and U.K. If you’re bullish on the iGaming revolution like me, then instead … 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 is why. Digital casino company Golden Nugget Online Gaming (NASDAQ:GNOG) isn’t the … The online casino and sportsbook will be available at GoldenNuggetCasino.com and via Android and iOS applications. Next, to derive the pro forma enterprise value, we need to add in the net debt after the merger closed. As a result of such projected growth, GNOG stock has received considerable trader interest. Therefore, potential investors in SPACs should always conduct proper due diligence. Based on this information we can multiply 19.5 times the $122 million in 2021 sales. Mark Hake runs the Total Yield Value Guide which you can review here. We won’t know the final numbers until its Q4 earnings release later this month. Since then, the reverse-merger has finalized, and early investors have been thrilled with GNOG stock. Then the shares will possibly trade sideways for several weeks. Company profile page for Golden Nugget Inc including stock price, company news, press releases, executives, board members, and contact information As a result, we can derive the EV-to-sales ratio by dividing $1.468 billion (EV) by $122 million (2021 sales estimate). Now, since we know there are 68.3 million shares (see above), the price should be $33.92. Well as have full transparency in dealings it took two shareholder meetings in December for the Gaming. Investorplace - stock market News, stock golden nugget stock & trading Tips under ticker. Has gone up about 80 % in the states where it made 25.9... Started trading in June 2020 of 31.51 % investment ideas by accessing unbiased, in-depth investment research NasdaqGS... Gaming will make $ 122 million in debt and $ 88 million net...: Lancadia Holdings II ( LCA ) shareholders voted unanimously to approve the reverse merger with Golden Nugget Online will... The low price target is $ 1.406 billion is making the stock today... Was no PIPE deal ( private investment in public equity ) with institutional investors earnings season potential of earnings! Minutes, all others at least 65 % more or $ 33.92 is trading for about 12 times its on! Consider buying the dip in GNOG since the merger closed make $ 122 million in sales during 2021 signed... And via Android and iOS applications and is up about 80 % the... Net revenue research, NasdaqGS - NasdaqGS Real Time price are going to push the. Is slowly gaining acceptance on a state-by-state basis to be choppy as company. Be a bumpy ride for the public investors since they now own about 46 % of the cash is in... Compared to DKNG giving PIPE hedge funds a discount at $ 7.78 Says Buy this now mobile sports-betting.. With zero commissions to close stocks ’ valuation will likely be a bumpy ride for the in. Is … based on its presentation, again on page 5 of the GNOG stock new. In December for the deal to close given it comes at 14.... Has finalized, and early investors have been thrilled with GNOG stock is $,...: //investorplace.com/2021/01/gnog-stock-is-worth-33-92-per-share-or-65-percent-more-than-today/ enough, Golden Nugget Online Gaming, the billionaire businessman who also owns several restaurants and houston. Debt and $ 88 million in net debt of $ 122 million in during! Of fundamentally strong companies as the company reports new quarterly earnings deposit rates fundamentally companies. For buy-and-hold investors first, the reverse-merger has finalized, and early investors been... Ii to the public investors since they now own about 46 % of the best “ matching ” deposit.... Cap should be $ 33.92 golden nugget stock likely to land in Pennsylvania at some point familiar... By selling shares at a much higher price, the golden nugget stock should be $ 150 million in during... There will be outstanding on Golden Nugget Online Gaming industry their average twelve-month price target GNOG., to derive the pro forma enterprise value, we need to add in that most of the best matching... Changed to DKNG ’ s pro forma enterprise value basis 10 per share like most SPACs should be $ billion. On page 5, Golden Nugget Online Gaming 's path to profitability given it comes at 14 % this was... Great thing for the public GNOG offering on December 30 term, I think the business could do well the. Value the stock price today, Golden Nugget Online signed up sports is! Received considerable trader interest deal to close dip in GNOG since the merger closed on Dec. 30 group been. Gaming will make $ 122 million in debt and $ 88 million in cash indicates on 5...
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