The online casino world is a dog-eat-dog environment, and any regulated brand in any of the US states that have legalized the pastime knows they must be on their best game if they want to make a significant impact in the market.
That means that efforts to think outside the box and to appease a customer base that can easily be wooed away are paramount, and this is something that Golden Nugget appears to have taken to heart with the roll out of their new mobile app.
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As one of the leading players in the Michigan market, it would be easy for Golden Nugget to rest upon its laurels, but its move to update its app is a sign of a provider who is looking to build on its sterling reputation.
Golden Nugget was bought by DraftKings in 2022, and their new app certainly bears a passing resemblance to their owner’s app, which is no bad thing. The layout is top notch and the speed with which it operates, and the absence of those annoying glitches that some brands still allow, make it one of the best around.
Golden Nugget moved into the Michigan scene in 2021 after partnering with Ojibwa Casino and has been a consistent performer over the past three years.
Last year, they grew by 12.5% in terms of revenue, bringing in $81.7 million in 2023. That is, unsurprisingly, far lower than the revenue of their parent company, which made $364 million in Michigan.
DraftKings is the third most profitable operator in the Great Lakes State, and the combined revenue of the brand and Golden Nugget is, amazingly, still below that of the market leader in Michigan. That title belongs to household name BetMGM, which brought in a massive $586 million in 2023.
FanDuel sits in second place, with Golden Nugget currently sitting in fifth place in what is a very competitive market.
A recent report put out by the MGCB (Michigan Gaming Control Board) revealed that revenue in the online casino market in Michigan rose by 21% in 2023, with a total of $1.5 billion being made in revenue by the licensed, regulated brands in the state.
Interestingly, the brand whose profits jumped the most significantly over the period was PointsBet, which saw a 77% increase, while DraftKings rose by 46.7%. The big winner, though, is the state itself, as it brought in nearly $500 million in tax revenue, a massive total that came from the 15 operators in the region.