Online casino across the United States is trending upwards, and Michigan is very much mirroring this upward trajectory, with one brand in particular, Golden Nugget, impressing a great deal.
Golden Nugget, which operates in New Jersey, Virginia, West Virginia as well as Michigan, was one of the original list of regulated operators granted a license in the Wolverine State back in 2021.
It’s a well-loved brand in the state, and in that first year of operation, it racked up $50.6 million in revenue, and the best month they managed in this period amounts to $6.14 in revenue.
By 2022 they had increased revenue to $72.8 million, an increase of 45.5% on 2021’s numbers, and 2023 has started in a similar vein. In January 2023, they amassed a brand record of $7.21 in revenue.
They are, however, not the leaders in the market in Michigan, sitting in the fifth position behind some of the big movers in the industry and actually only take 4.6% in terms of market share, which, in some ways, is a positive and it shows how the brand still has plenty of room to grow.
Golden Nugget is holding well ahead of WynnBet in sixth position but trails BetRivers, DraftKings, FanDuel, and BetMGM. As a guide to the overall reach of the market and where Golden Nugget sits within the niche, it’s worth noting the following.
BetMGM has amassed an overall revenue of $1.1 billion since legalization in Michigan and compares to Golden Nugget’s total of $136 million, which gives you a sense of scale.
In other words, BetMGM, a household name in the United States, has seen revenue at approximately ten times that of Golden Nugget.
Golden Nugget is considered one of the best online casino options around, offering almost 700 games to its users, with 634 of these coming in the form of slots, with table games numbering 44.