Golden Nugget Online Gaming Inc (GNOG)

[food4thought]

Based on the share structure we are looking at roughly a 5.5 billion dollar valuation at current price rolling into merger. Forward looking 2021 revenues and comp multiples would put us at ?? Thoughts??

Draft kings has a 20 billion dollar valuation with a slightly elevated share structure and Caesar’s CZR has a 15 billion dollar valuation with a fairly similar share structure. I haven’t taken the time to look up revenues and multiples yet, but clearly this sets up well from a comp standpoint for GNOG which has the potential to be one of the market leaders in online gaming. Neither of those comps have reported recent profitability but I believe are projected to do so in 2021. Again, this should bode well for GNOG as they have real revenues and a path to immediate profitability. Correct me if I’m wrong here as I haven’t taken the time to break down all numbers.