![]() GNOG shareholders receive 0.365 shares of $DKNG stock for each share of GNOG. It was forbidden in various states because Fertitta also owned the Houston Rockets. With GNOG now owned by DraftKings rather than Fertitta, Golden Nugget online sportsbooks can now take bets on NBA again. This is the best management team in the space.”įertitta agreed to hold his DKNG shares for at least one year after the transaction closes. I wanted to ride this thing all the way up with these guys. “DraftKings is the Coca-Cola of the space,” Fertitta said. He will also become one of the largest DraftKings shareholders when the deal closes.įertitta said he was excited to become a shareholder in the “clear leader” in online sports betting. Tilman Fertitta, who owns 45% of GNOG, will join the operator’s board following the transaction. Robins said the two companies expect $300 million in synergies at maturity. “GNOG’s database is nearly 50/50 male to female and more of that casino clientele,” Robins said.ĭraftKings will retain the Golden Nugget online casino brand and run a multi-brand strategy. “We are very good at cross-selling sports customers into iGaming, but o ur database is mainly male and focused on sports,” Robins said. What’s in it for DraftKings?ĭraftKings CEO Jason Robins said the deal helped DraftKings reach iGaming customers who do not necessarily bet on sports. It also covers a database of around 5.5 million Golden Nugget customers across online and retail. The deal covers the online gambling assets of Golden Nugget, which were spun out and listed as as separate business last year. The deal is expected to close in the first half of 2022. DraftKings is acquiring Golden Nugget Online Gaming ( GNOG) in a bid to beef up its online gaming presence.ĭraftKings said Monday it was paying $1.56 billion for GNOG in an all-stock deal.
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