Golden Nugget Stock Merger With Landcadia Holdings - Buy LCA Now??

Landcadia Holdings has entered into agreement with Golden Nugget online iGaming here is everything you need to know - Enjoy! Add me on Instagram: Drmbardi
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The deal between Landcadia holdings stock and Golden Nugget stock is expected to close in the third quarter of 2020.

Landcadia stock trades under ticker (LCA). This Golden Nugget stock merger has a lot of investors excited about iGaming and online gaming industry as the world is changing not to mention the recent success of Draftkings stock, which went public via merger and is up over 200% this year alone.

Golden Nugget online gaming is part of a larger company called "Golden Nugget" and shares the same owner as the "Landrys" restaurants, which did 4B in revenue for 2019. Golden Nugget has 5 casinos in the US, but it's important to know that GNOG stock will not provide any equity to these business and is solely the online gaming business.

Unlike Draftkings, Golden Nugget is profitable, bringing in 11m in 2019. The merger with Landcadia holdings values GNOG Stock at an enterprise value of 745m, with a sub 700m market cap. Comparing this to Draftkings 11B market cap. This leaves Golden Nugget stock trading at a 2021 estimated revenue multiple of 6.1x. DKNG stock is trading at 15.2x Total enterprise value/Revenue.

Golden Nugget IPO stock is projecting a '19-'24 CAGR of 36%, compared to the 11B Draftkings at 34%. LCA stock IPO seems to be much much attractive on a pure valuation basis.

Golden Nugget and the igaming industry have been experienced a huge growth spurt, due to the closing of physical casinos, which leads to GNOG adding tons of users, which they do a very good job retaining. Over 50% of Golden Nugget online gaming stock's users are from before 2018.

Golden Nugget online gaming in only in New Jersey right now, which is the largest online gaming market, where they control 18% of the total market. Due to strict regulations regarding igaming and online gaming on a state-by-state basis, Golden Nugget is in a somewhat speculative and risky industry since there is always a threat of the government banning online gaming, which would lead online gaming stocks like GNOG to hurt badly.

GNOG stock has immediate plans to enter Pennsylvania and Massachusetts, which Golden Nugget says is a 2.5B dollar market combined with their current New Jersey market. Looking into the future GNOG stock says the total US market could be worth 22B, with all states allowing iGaming, so there is massive amount of growth potential.

Golden Nugget is focused on the "Pure Casino" style, traditional casino games like slots, craps, poker, and blackjack. This is where the biggest rush is coming from since a lot of people who like to sportsbet do it online, but people that gamble at casinos don't do it online. This means all the people who like to got to casinos and play games won't be able to and are potential new customers for Golden Nugget since pure casino accounts for 67% of the NJ iGaming market. iGaming users are also said to be 7x more valuable than sportsbook users, because of their faster reinvestment, longer session times, and higher disposable income.

Golden Nugget has delivered a 45% CAGR over the last 7 years for Gross Gaming revenue (GGR). During this time they have reduced advertising from 100% of their GGR in 2014, to less than 20% of GGR in 2020. They became EBITA positive in 2015, and have been growing EBITA every year as both their revenue is increasing & advertising costs are decreasing.
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