The acquisition is yet to get the approval of Golden Nugget Online Gaming shareholders. When the deal closes, that company will be renamed DraftKings. He further added, “This deal creates meaningful synergies such as increased combined company revenues driven by additional cross-sell opportunities, loyalty integrations, and tech-driven product expansion as well as technology optimization and greater marketing efficiencies.”Īs part of the deal, DraftKings will form a new holding company called New DraftKings, which will become the new combined public company for both properties.
This acquisition will help DraftKings to expand its global reach because it will get full access to Golden Nugget Online’s five million customers.ĭraftKings CEO and chairman Jason Robins said: “Our acquisition of Golden Nugget Online Gaming, a brand synonymous with iGaming and entertainment, will enhance our ability to instantly reach a broader consumer base.” Online casino games are becoming increasingly important for platforms like DraftKings, which sees opportunity beyond just fantasy sports and sports betting.
Golden Nugget is a subsidiary of Fertitta Entertainment, a conglomerate owned by billionaire restaurateur Tilman Fertitta, who also owns the NBA side Houston Rockets. DraftKings has reached an agreement to buy the Golden Nugget’s Online Gaming business, in an all-stock deal valued at $1.56 billion.
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