Golden Nugget secures market access to Illinois
Golden Nugget Online Gaming (GNOG) has entered into a definitive agreement with Danville Development, giving it market access to online sports betting and online gaming in Illinois.
The agreement will see Golden Nugget enter into a joint venture with Wilmot Gaming Illinois to build a new casino in Danville, providing regulatory approvals are received, which will give the operator exclusive rights to offer sports betting, then online casino wagering in the state once permitted by law.
The new casino, which will branded Golden Nugget, will feature a Landry’s restaurant steakhouse. Danville Development is a joint venture between Wilmot Gaming and GN Danville, which is a wholly owned subsidiary of Golden Nugget.
The 20-year market access agreement will also see GNOG provide a $30m mezzanine loan to Danville Development for construction of the casino, and requires GNOG to pay the real estate developer a percentage of its online net gaming revenue.
Golden Nugget and GNOG owner and CEO Tilman Fertitta said: “This is Golden Nugget’s first joint venture on a casino project, and we are honored to be the one selected amongst numerous bidders for this opportunity by the Wilmot family after a highly competitive process.”
GNOG president Thomas Winter added: “This is a tremendous opportunity for us to further increase our US footprint and deliver on our ambitious growth plans. We look forward to bringing our award-winning online offerings to the Prairie State.”
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