Golden Nugget Online Gaming, Inc. (GNOG), the online gambling division of Tilman Fertitta’s casino empire, this week become the latest company to receive a digital wagering license in Virginia.
The operator obtained a temporary permit from the Virginia Lottery that enables it to commence providing online sports betting services in the state.
News about the company’s entry into the Virginia market arrive a couple of weeks after it secured access to New York through a partnership with Tioga Downs, one of several Upstate commercial gambling establishments. GNOG’s New York expansion is subject to legalization, regulatory approval, and license eligibility.
But while it has a long way to go before being able to go live in the above state, with its recently obtained license, the company can now move forward to preparing its launch in Virginia. It said that it will be working closely together with state regulators to complete all the required platform testing and that it expects to start taking bets from local bettors this summer.
The license from the Virginia Lottery enables GNOG to provide mobile wagering experience. Of their most recent important announcement, company President Thomas Winter said that together with their SWaM-certified local partner, Virginia Sports Technology Group, they will be providing a great sportsbook product, while also sharing a portion of their revenue with the state’s Historically Black Colleges & Universities.
Golden Nugget’s Virginia Expansion Effort
GNOG’s expansion in Virginia’s betting market is in line with Golden Nugget’s effort to enter that state’s casino market. Late last month, the company submitted its plan to build a hotel and gaming resort in Richmond.
Golden Nugget Richmond Hotel & Casino will cost $400 million and will take three years to build. It will feature a 93,000-square-foot casino with 1,900 slot machines, 92 table games, and eight poker tables, a hotel with 177 rooms and 37 suites, a 1,500-seat concert venue, multiple food and beverage outlets, a luxury pool complex with private cabanas, and more.
Golden Nugget is one of the half-dozen bidders vying for the right to develop and operate a casino resort in Richmond. However, residents must first approve the opportunity for a property of this kind to be brought to the city in a local referendum. The casino question will be on the November 2021 ballot.
GNOG’s Virginia license marks the latest huge milestone for the company since it went public through a merger with a special purpose acquisition company. The online gambling operator tied the knot with Landcadia Holdings II, Inc. late last year. The blank-check company was formed in 2019 by Mr. Fertitta himself and New York-based Jefferies Financial Group.
Source: “Golden Nugget Online Gaming Wins Online Sports Betting License in Virginia”, PR Newswire, March 16, 2021
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