Fertitta’s web gaming profits soar
Golden Nugget Online rakes in $90 million in 2020, up 63%
Tilman Fertitta’s Golden Nugget Online Gaming reported soaring year-over-year revenue in preliminary financial reports released Monday.
Revenues hit $90 million in the 12 months ended Dec. 31, up 63 percent from $55.4 million in 2019, the company said in a news release.
Full financial results are pending, though GNOG reported operating income of between $23 million and $24 million in 2020, up from $17.6 million in 2019. Operating expenses during the period included between $4 million and $5 million in costs related to the merger that took the company public in December.
“We are very pleased with yet another year of rapid and profitable growth,” Fertitta, the company’s chairman and chief executive, said in the release. He said that in 2020 the company reached $100 million in gross gaming revenue as it signed agreements to expand to multiple states.
The company launched online operations in Michigan last month in partnership with Ojibwa Casino and has been ratcheting up its online casino marketing.
“We have just launched our marketing campaign and are already recording close to $2 million in daily casino wagers,” Thomas Winter, GNOG’s president, said in the release. “Michigan is embracing online gaming at a rapid pace and we anticipate that our business in the Great Lakes State will exceed our earlier expectations.”
As more states legalize sports betting — six states and Washington, D.C., legalized it within the last year — more people are
heading legally online to place bets instead of resorting to illegal channels, the American Gaming Association wrote in a recent study. Online gambling is legal in 20 states and Washington, D.C., but not Texas.
A record 7.6 million people bet online in Sunday’s Super Bowl, up 63 percent from last year, according to the association.
Fertitta said in an interview that breaking into each state comes with huge marketing costs, which will eat into profits over the next couple of years.
The world stopped moving for the Hirsch family at 2:50 am February 5th, 2021. Robert Allen Hirsch, affectionately known as Bob, passed away unexpectedly after beating a month long battle of covid/pneumonia only to succumb to complications of diverticulitis surgery. Bob is survived by the love of his life and wife of more than 53 years, Jennifer Hirsch, his children Cynthia Gallegos and Antonio Gallegos, Robert G. Hirsch and wife Tori, and Erica Miglicco and husband Jeff, as well as his beloved grandchildren; Anthony, Brett, Tristan and Daniela Gallegos, Blake, Ryan and Brooke Hirsch and Jennifer, Angelina, Natalie and Casen Miglicco.
He was born January 28th, 1948 in Tulsa, Oklahoma to William Robert Hirsch and Florence Marie Hall. He is preceded in death by both of his parents, his brothers Bill and Bruce Hirsch, stepfather Ali Abssi, and so many others who will be there to welcome him into heaven.
Bob had a personality that lit up the world. He had a legendary smile that made everyone feel welcome. He was fiercely loyal, had the best sense of humor that his wife always had to explain, blunt with his words in the most endearing way, the very best husband, father, fatherin-law and grandfather ever known. He was always the smartest person in the room, and always had the facts and credentials to back it up. He touched so many lives in his own unique way and made friends wherever he went.
He opened the Hirsch Bros. and All-stars T-shirt and screen-printing stores in the 1970’s, and has worked in the financial industry for more than 35 years. He has been with Shearson Financial as an Institutional Broker/ Dealer for more than 12 years.
He was a proud University of Houston alumni where he graduated magna cum laude. He was an avid supporter of the Houston Cougars his entire life. He went on to later earn his Master’s, as well as numerous other certifications throughout his career.
He was an active member of the Katy community since the 1970’s and was a founding member of Katy Youth Football.
His was a life truly well lived. His love story with his wife Jennifer is legendary. He loved with everything he had, helped everyone he could, took care of whoever needed him, brought joy to everyone he met and believed fervently in his Catholic faith. He was at every single one of his children and grandchildren’s activities from football, volleyball, baseball, soccer, track, dance, theater, choir, band and orchestra performances and more. He was his grandchildren’s greatest supporter and he leaves a gaping hole in our hearts and in the stands where he used to cheer them on. His children and grandchildren were his pride and joy, he was so proud of all of their gifts and talents but more than anything, the kind of people they are. He was one of the very best friends in the entire world, especially to his wife and children. He loved his brother-in-laws and sister-in laws like they were his very own siblings. He loved his many nephews and niece’s and took his role as Godfather very seriously. He was an incredible storyteller. He was wise and compassionate, genuine and was always giving advice that changed more lives than he ever realized. He had character and integrity rivaled second to none. He seized every opportunity to let people know what they needed to hear and never feared a challenge. There aren’t enough words to accurately honor the man that he was, but his legacy will live on in his family and countless others who will try to live up to his example. He will be missed beyond measure, the world was definitely made better by him being in it, and the memories he leaves behind will endure forever.
The viewing will be held at Miller Funeral Services at 7723 Beechnut St, Houston, TX 77074 on Wednesday, February 10th from 6-8pm with a rosary at 7pm with speeches to follow. The funeral mass will be held at St. John Vianney Catholic Church at 625 Nottingham Oaks Trail, Houston, TX 77079 on Thursday, February 11th, 2021 at 1:30pm followed by the burial at Memorial Oaks Cemetery.
Condolences may be offered at www.millerfuneral.com