New Jersey Regulators Grant Casino License to Golden Nugget Online Gaming

New Jersey Regulators Grant Casino License to Golden Nugget Online Gaming

Regulators from the state of New Jersey have granted Golden Nugget Online Gaming, LLC a casino license as an internet gaming affiliate of Golden Nugget Atlantic City. The New Jersey Casino Control Commission has approved a merger of the company with an existing acquisition company currently being traded on Nasdaq.

Benefits to Golden Nugget

Golden Nugget Atlantic City Vice President and Treasurer Richard Liem testified that taking the online gaming firm public will provide them more access to capital. He said that the online performance of the casino operator and its brand presence is poised for growth as it is entering new markets.

New Jersey Regulators Grant Casino License to Golden Nugget Online Gaming

He added,

“Wherever we can connect the Golden Nugget online gaming to the Golden Nugget brand and that’s another synergy that will happen with the expansion into new states where perhaps we don’t have a brick and mortar but those people will travel to other brick and mortar’s and the Golden Nugget brand gets more recognition, it gets more credibility and I believe it will drive incremental revenue even in New Jersey because people are going to just see It more.”

Liem also said that the brand will grow further and become more powerful and it is marketed more often.

Regulators were cautious about the license

The Division of Gaming Enforcement shared its concerns about the casino playing second fiddle to the online gaming business. It extended support for recommended conditions to ensure that the casino continues to get enough attention. Chairman of the Casino Control Commission, James T. Plousis said that the Division has suggested recommendations to ensure that the Golden Nugget Atlantic City New Jersey Casino Hotel remains a first-class operation and business priority. It also seeks the financial stability of the operation. He supported the recommendations and highlighted the uncertainty in markets due to the pandemic.

The merger has to get approval from federal regulators before it could become the second pure online casino company in the US to trade publicly.

About sherlock

Sherlock Gomes loves to write and express his views on anything related to Gaming, Gambling, & Casino. He has been covering Gaming for more than two years now.