Golden Nugget On-line Gaming Inks New York Market Entry Take care of Tioga Downs

HOUSTON, Feb. 24, 2021 /PRNewswire/ — Golden Nugget On-line Gaming, Inc. (Nasdaq: GNOG) introduced immediately that it entered right into a definitive settlement with Tioga Downs Race Monitor, LLC. (“Tioga Downs“) for future on-line gaming market entry within the state of New York, topic to laws, regulatory approval, license eligibility and availability.  

Following a report yr in New Jersey and its current launch in Michigan, this settlement provides GNOG market entry to the state of New York for on-line on line casino wagering below a Tioga Downs’ license, rules allowing.  As a part of the 20-year settlement, GNOG can pay Tioga Downs, considered one of solely seven business and tribal casinos within the state, a proportion of its internet gaming income, which shall be topic to minimal royalty funds all through the time period. 

With near 19.5 million residents, New York is the fourth most populous state within the US.  Primarily based on the newest income developments in New Jersey and Pennsylvania, GNOG believes that the New York on-line on line casino market might attain $2 billion Gross Gaming Income at maturity. New York is the 9th state the place GNOG has gained market entry in current months, rules and licensing allowing. Throughout New Jersey, Michigan, Pennsylvania, Illinois, West Virginia, Nevada, Mississippi, Louisiana and New York, GNOG complete addressable US on-line sports activities betting and on line casino market is now estimated to be roughly $10 billion at maturity.

Thomas Winter, President of GNOG acknowledged, “We’re very excited to signal this long-term partnership with Jeff Gural and Tioga Downs. New York is vital to our development technique and we sit up for the state embracing on-line gaming. We are going to stay targeted on securing new market entry companions in additional US states. With its iconic model, superior product and award-winning operations, GNOG is uniquely positioned to make the most of the exponential development of on-line gaming within the US.”

Tioga Downs is happy to associate with the most effective performing on-line gaming operators within the US. GNOG has probably the most skilled on-line groups, a historied US on line casino model and a confirmed observe report in our neighboring state of New Jersey,” stated Tioga Downs proprietor Jeffery Gural, including “I am assured GNOG will deliver an thrilling product to my house state of New York and collectively we’ll generate wonderful new income streams for GNOG, Tioga and the state of New York.” 

About GNOG
Golden Nugget On-line Gaming is a number one on-line gaming firm that’s thought of a market chief by its friends and was first to deliver Stay Vendor and Stay On line casino Flooring to america on-line gaming market. GNOG was the recipient of 15 eGaming Assessment North America Awards, together with the coveted “Operator of the Yr” award in 2017, 2018, 2019 and 2020.

About Tioga Downs
Tioga Downs, which opened in 2006, and expanded to Tioga Downs On line casino Resort in December 2016, provides dwell harness racing, on line casino gaming, eating, golf, indoor and out of doors dwell leisure, and extra. Jeff Gural owns Tioga Downs in addition to Vernon Downs in Vernon, New York. Since opening the brand new resort in December 2016, Tioga Downs has expanded its gaming choices to incorporate 892 slot machines, 28 desk video games, and a 6-table poker site. The Tioga Downs On line casino Resort Lodge spans seven tales and boasts 160 rooms, an occasions heart, a full-service AgeLess SPA, an indoor saltwater pool and Jacuzzi scorching tub, an arcade, and a health room, in addition to many different thrilling facilities in season akin to, an out of doors saltwater pool and Jacuzzi full with Cabanas and a personal Cabana bar (for resort visitors), an out of doors waterslide and plunge pool, and a full 18-hole Tioga Golf Course positioned simply minutes down the highway. The resort additionally provides all kinds of meals retailers together with their well-known County Honest Buffet, Virgil’s Actual BBQ, and P.J. Clarke’s, amongst others. Tioga Downs and Vernon Downs have created greater than 1,000 family-sustaining jobs and donated hundreds of thousands to nonprofit organizations. For extra data on Tioga Downs On line casino Resort, please go to www.tiogadowns.com.

Ahead-Trying Statements
This press launch accommodates forward-looking statements throughout the that means of  Part 27A of the Securities Act of 1933, as amended, or the Securities  Act, and Part 21E of the Securities Change Act of 1934, as  amended, or the Change Act, about us and our business that contain  substantial dangers and uncertainties. All statements aside from statements of historic details contained on this press launch, together with statements relating to market entry to the state of New York, steerage, our anticipated outcomes of operations or monetary situation, enterprise technique and plans, consumer development and engagement, product initiatives, and targets of administration for future operations, and the affect of COVID-19 on our enterprise and the financial system as a complete, are forward-looking statements. In some circumstances,  you’ll be able to establish forward-looking statements as a result of they include phrases  akin to “anticipate,” “imagine,” “ponder,” “proceed,” “might,”  “estimate,” “anticipate,” “expectations,” “forecast,” “going to,” “intend,”  “could,” “plan,” “potential,” “predict,” “undertaking,” “suggest,” “ought to,”  “goal,” “will,” or “would” or the damaging of those phrases or different  comparable phrases or expressions. We warning you that the foregoing could not embrace the entire forward-looking statements made on this press launch.

You shouldn’t depend on forward-looking statements as predictions of future occasions. Now we have based mostly the forward-looking statements contained on this press launch totally on our present expectations and projections about future occasions and developments that we imagine could have an effect on our enterprise, monetary situation, outcomes of operations, and prospects. These forward-looking statements should not ensures of future efficiency, circumstances or outcomes, and contain quite a few identified and unknown dangers, uncertainties, assumptions and different essential elements, a lot of that are exterior GNOG’s management, that might trigger precise outcomes or outcomes to vary materially from these mentioned within the forward-looking statements.  Necessary elements, amongst others, that will have an effect on precise outcomes or outcomes embrace the lack to acquire market entry to the state of New York as a result of failure of the New York state legislature to move essential laws to permit GNOG the power to function its enterprise; prices associated to the enterprise mixture;  the lack to keep up the itemizing of GNOG’s shares on Nasdaq; GNOG’s incapacity to acquire licensing approval even when applicable laws is handed; GNOG’s  skill to handle development; GNOG’s skill to execute its marketing strategy  and meet its projections; potential litigation involving GNOG; adjustments  in relevant legal guidelines or rules, notably with respect to gaming;  common financial and market circumstances impacting demand for GNOG’s  services and products, and particularly financial and market circumstances  within the media / leisure / gaming / software program business within the markets  through which GNOG’s operates; the potential antagonistic results of the continuing  world coronavirus (COVID-19) pandemic on capital markets, common  financial circumstances, unemployment and GNOG’s liquidity, operations and  personnel, in addition to dangers, uncertainties, and different elements described  within the part entitled “Threat Components” in GNOG’s filings with the SEC,  which can be found on the SEC’s web site at www.sec.gov.  Extra data shall be made accessible in different filings that we make occasionally with the SEC. As well as, any forward-looking statements contained on this press launch are based mostly on assumptions that we imagine to be cheap as of this date. We undertake no obligation to replace any forward-looking statements to replicate occasions or circumstances after the date of this press launch or to replicate new data or the prevalence of unanticipated occasions, together with future developments associated to the COVID-19 pandemic, besides as required by regulation.

SOURCE Golden Nugget On-line Gaming, Inc.

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