Tilman Fertitta’s casino empire’s online poker subsidiary, Golden Nugget Online Gaming, Inc. (GNOG), became the first organisation to acquire a digital wagering licence in Virginia last week.
The Virginia Lottery granted the operator a conditional permit, allowing it to begin offering online sports betting services in the state.
The company’s foray into the Virginia market comes only a few weeks after it gained access to the New York market through a deal with Tioga Downs, one of several commercial gaming establishments in Upstate New York. The extension of GNOG in New York is contingent on legalisation, regulatory consent, and licence eligibility.
Although the business still has a long way to go before it can go live in the aforementioned state, with its newly acquired licence, it can now focus on planning for its launch in Virginia. It stated that it would work closely with state regulators to complete all platform testing requirements, and that it plans to begin accepting bets from local bettors this summer.
GNOG will now provide mobile wagering thanks to a licence from the Virginia Lottery. In their most recent critical announcement, company President Thomas Winter stated that they would have a fantastic sportsbook product in collaboration with their SWaM-certified local affiliate, Virginia Sports Technology Group, while still sharing a portion of their sales with the state’s Historically Black Colleges and Universities.
The Golden Nugget’s Expansion Effort in Virginia
GNOG’s entrance into the Virginia gaming industry coincides with Golden Nugget’s move to penetrate the state’s gambling market. The company submitted its proposal to construct a hotel and gaming resort in Richmond late last month.
The construction of the Golden Nugget Richmond Hotel & Casino would cost $400 million and take three years. It will have a 93,000-square-foot casino with 1,900 slot machines, 92 table games, and eight poker tables, as well as a hotel with 177 rooms and 37 suites, a 1,500-seat concert hall, various food and beverage outlets, and a premium pool complex with private cabanas.
Golden Nugget is one of a half-dozen firms bidding to build and run a casino resort in Richmond. Residents must first vote in a municipal referendum to support the idea of such a property being introduced to the city. The casino issue will be on the ballot in November 2021.
The company’s Virginia licence is the latest big accomplishment since it went public in a partnership with a special purpose investment company. Late last year, the online poker company joined Landcadia Holdings II, Inc. Mr. Fertitta and New York-based Jefferies Financial Group founded the blank-check firm in 2019.