Golden Nugget Online Video Gaming Shuts SPAC Merging, Goes Public

Golden Nugget Online Video Gaming Shuts SPAC Merging, Goes Public

Gabriel Stewart December 31, 2020

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United States on-line betting firm Golden Nugget Online Video Gaming (GNOG) finished on Tuesday a previously introduced merger with an unique purpose acquisition business as well as is set to commence trading on NASDAQ

later on today, December 30. GNOG was gotten by Landcadia Holdings II, Inc., a blank-check company created in 2014 by Texas business person Tilman Fertitta and New York-based Jefferies Financial Group. Mr. Fertitta is also the owner of the Golden Nugget chain of online casinos as well as

of GNOG itself. Landcadia investors enacted favor of business combination at a special conference held Tuesday. An initial conference was set up for December 18, yet that a person was adjourned due to the fact that there were not enough investor ballots to clear the tie-up.

After the proposed mix garnered adequate shareholder assistance on Tuesday, Landcadia transformed its name to Golden Nugget Online Pc Gaming, Inc.. The freshly formed entity will go public on NASDAQ later on today as well as will certainly trade under the ticker symbol GNOG.

Mr. Fertitta and also Jefferies created Landcadia as well as took it public in 2019. The blank check firm elevated $316 million for a purchase. Information emerged in June that Mr. Fertitta’s on the internet gaming and also sporting activities betting business would certainly be its purchase target.

United States Expansion

Currently as the SPAC merging was finalized, Mr. Fertitta will remain to function as GNOG’s Chief Executive Officer and also Chairman. Thomas Winter will maintain his role as President of the on-line gambling company et cetera of the GNOG team will too proceed in their previous roles.

Mr. Fertitta claimed that he delights in the combination finally close and that they see “tremendous opportunity in the online pc gaming room and are thrilled to be a part of it.”

As a public business, GNOG will certainly pursue growth in different states where online pc gaming and sporting activities betting are legal.

Last month, the business landed a vital handle Illinois as the state’s gaming market is in the center of its largest development in years. GNOG partnered with Danville Advancement to create a joint venture and develop a Golden Nugget-branded casino site in the east-central Illinois community of Danville.

Under the regards to GNOG’s partnership with Danville Development, Mr. Fertitta’s company will specifically use on-line sports wagering and also electronic gambling establishment items with the future online casino.

It was in November once more when GNOG penned a manage Greenbrier Resort Company to provide on the internet pc gaming and sporting activities betting with The Greenbrier casino site resort in White Sulphur Springs, West Virginia.

GNOG’s collaboration with The Greenbrier safeguarded the digital gaming driver with access to all four privately run online gaming markets in the US, with New Jacket, Michigan, and also Pennsylvania being the various other three.

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