Online sports betting company DraftKings Inc. has announced that it has reached an agreement to purchase Golden Nugget Online Gaming Inc. in an all-stock deal worth $1.56B. The deal will see DraftKings form a new holding company called New DraftKings which will be the public firm going forward.
As part of the deal, DraftKings will enter into a commercial agreement with Fertitta Entertainment, Inc., the parent company of the Houston Rockets, Golden Nugget, LLC and Landry’s LLC.
Speaking of the company’s latest acquisition, Jason Robins, DraftKings’ CEO and Chairman of the Board said:
DraftKings Reaches Agreement to Buy Golden Nugget Online Gaming for $1.56BTilman Fertitta, Chairman and CEO of GNOG added:
“This transaction will add great value to the shareholders as two market leaders merge into a leading global player in digital sports, entertainment and online gaming. Leveraging Fertitta Entertainment’s broad entertainment offerings and extensive customer database, coupled with DraftKings’ mammoth network makes this an unbeatable partnership. Together, we can offer value to our combined customer base that is unparalleled.
DraftKings Reaches Agreement to Buy Golden Nugget Online Gaming for $1.56B
The commercial aspect of the deal will reduce DraftKings’ market access costs through preferred pricing arrangements with any Golden Nugget-owned properties.
Where is The DraftKings App Available in the USA?
| Sportsbook | Available On | States Available |
|---|---|---|
| DraftKings | App Store, Google Play | Arizona, Colorado, Connecticut, Washington D.C., Indiana, Iowa, Illinois, Kansas, Kentucky, Louisiana, Massachusetts, Maryland, Maine, Michigan, North Carolina, New Hampshire, New Jersey, New York, Ohio, Oregon, Pennsylvania, Tennessee, Virginia, Vermont, West Virginia, Wyoming |
Olivia has worked as an editor and writer for major brands across multiple niches. She now focuses on the iGaming and sports betting industries.