However, the market will be big enough in the coming years to absorb several players. Therefore, Golden Nugget does face competition from the likes of DraftKings (NASDAQ: DKNG) and GAN Limited (NASDAQ: GAN), among others. Recently, Michigan online sports betting and iGaming went live with “ ten authorized operators launching right from start.”
With more states legalizing sports betting, the market inflection point is just around the corner. Specific to the United States, a study suggests that “ 39% of adult Americans (100 million people) are either current or potential sports bettors.”
Talking about the industry tailwinds, the global online gambling market is expected to be worth $127.3 billion in FY2027. For the first nine months of fiscal year 2020, the company reported revenue of $68.1 million, which was higher by 71% on a year-on-year basis. The company is focused on online casino and sports betting. Golden Nugget is a provider of online gaming in the United States.
