DraftKings completes deal to acquire Golden Nugget Online Gaming
The company hopes the acquisition will broaden and enhance its current customer base.
DraftKings has successfully completed its acquisition of Golden Nugget Online Gaming (GNOG). The sportsbook operator plans to utilize the GNOG brand to reach a broader segment of its clientele and improve upon its current iGaming products.
DraftKings Chairman and CEO Jason Robins commented: “Acquiring Golden Nugget Online Gaming gives us synergies across our business.
“We anticipate that this acquisition will provide meaningful revenue uplift by utilizing our data-driven marketing capabilities and a dual brand iGaming strategy, gross margin improvement opportunities, and cost savings across external marketing and SG&A. I am proud to welcome the Golden Nugget Online Gaming team to the DraftKings family.”
The acquisition, however, does not include any of the brick-and-mortar Golden Nugget casinos. Fertitta Entertainment will maintain ownership of those locations under the terms of the deal.
Golden Nugget Online Gaming Chairman and CEO Tilman Fertitta said: “This will be an alliance unlike any other in the digital sports, entertainment and online gaming industry.
“Now that the acquisition is completed, I look forward to what the future will bring for our combined company and am confident this relationship will be a huge success.”
DraftKings was started in 2012 by Jason Robins, Matt Kalish and Paul Liberman. Its sportsbook is live in Arizona, Colorado, Connecticut, Illinois, Indiana, Iowa, Louisiana, Michigan, Mississippi, New Hampshire, New Jersey, New York, Oregon, Pennsylvania, Tennessee, Virginia, West Virginia and Wyoming.
DraftKings is also the official sportsbook provider of the Oregon Lottery has an exclusive market access partnership with Tulalip Tribes of Washington to bring its retail sportsbook to the state.
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