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The dominance of the Golden Nugget online casino has been nothing short of remarkable. In a heavily competitive market, one of the smallest Atlantic City casinos has created an absolute juggernaut.

Golden Nugget Atlantic City is the top online casino in New Jersey. It hopes to accomplish the same in Pennsylvania. The New Jersey casino is one of two companies that applied to be considered as a qualified gaming entity (QGE) by the PA Gaming Control Board (PGCB). Golden Nugget received its QGE approval but is still in the process of obtaining approval for a PA interactive gaming license. 2 days ago GNOG was to become only the second pure publicly traded online casino company in the U.S. The transaction was expected to close in the third quarter of this year. Upon closing, Landcadia II changed its name to Golden Nugget Online Gaming, Inc. And its Nasdaq trading symbol to GNOG.

The $4 million benchmark

Look at this chart showing the best historical month for each NJ online casino operator. Everyone is tightly bunched except for Golden Nugget, which is lapping the field as an extreme outlier.

Only three online casino operators have eclipsed $4 million in revenue for a single month: Golden Nugget, Borgata , and Tropicana.

Collectively, those three have managed the feat 23 times. Golden Nugget lays claim to 20 of those. It reached $4 million in NJ online casino revenue a full 18 months before any of its competitors.

Golden Nugget keeps growing

It would be impressive enough if Golden Nugget was simply posting good numbers more often than the others, but it has reached heights far beyond its competitors.

Not only has Golden Nugget accrued 20 of those $4 million months, it has also eclipsed:

• $5 million: 17 times
• $6 million: 11 times
• $7 million: six times
• $8 million: four times

Golden Nugget isn’t a one-brand show

Golden Nugget’s choice of sub-brands seems to be a key factor in its dominance.

Sub-brands are online partners that piggyback on the licenses held by casinos. Although there are only nine land-based casinos, there are currently 17 online casino brands in the market.

Eight belong to Atlantic City casinos.

• Golden Nugget
• Borgata
• Tropicana

The other nine brands belong to “foreign” casinos, parent companies, and partnered online platform providers.

Sub-brands key to success

According to the June report from analyst Eilers & Krejcik, Golden Nugget possesses the top two brands in the market and three of the top seven. These are listed as medium-confidence estimates since regulators report all revenue under the parent operator.

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Bolstered by the performance of its sub-brands, Golden Nugget is the clear market leader.

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When you remove AC casinos, the performance of the Betfair and SugarHouse sub-brands is every bit as dominating as the parent brand.

Betfair’s revenue averaged $2.5 million per month from April through June. SugarHouse averaged nearly $1.7 million over the same period.

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Virgin, operating under Tropicana’s license, is the third strongest sub-brand in the market. It has a three-month average of just over $1 million in revenue.