“This will be an alliance unlike any other in the digital sports, entertainment and online gaming industry,” said Tilman Fertitta, Chairman and CEO of Golden Nugget Online Gaming. “I am proud to welcome the Golden Nugget Online Gaming team to the DraftKings family,” he further commented.ĭraftKings is set to integrate Golden Nugget Online Gaming employees across its business, including Thomas Winter, who will transition to General Manager of North America iGaming, from his previous role as President of Golden Nugget Online Gaming. “We anticipate that this acquisition will provide meaningful revenue uplift by utilizing our data-driven marketing capabilities and a dual-brand iGaming strategy.”Īdditionally, DraftKings’ CEO said the deal will unlock gross margin improvement opportunities, and cost savings across external marketing and SG&A (Selling, General and Administrative Expenses).
“Acquiring Golden Nugget Online Gaming gives us synergies across our business,” said Jason Robins, Chairman and CEO of DraftKings. The deal is set to deliver “significant benefits” to DraftKings, which expects synergies of $300 million at maturity. The transaction does not include brick-and-mortar Golden Nugget casinos, which will continue to be owned by mogul Tilman Fertitta and his Fertitta Entertainment business. It will also enhance the combined company’s iGaming product offerings through DraftKings’ vertically-integrated tech stack and GNOG’s unique capabilities, including Live Dealer.
The GNOG acquisition is expected to, among other things, allow DraftKings to leverage Golden Nugget’s established brand to broaden its reach into new customer segments. The deal was first unveiled in August last year, an all-stock deal worth roughly $450 million that involves Golden Nugget’s iGaming product and existing combined database of more than 5 million customers. Sports betting giant DraftKings has completed its acquisition of Golden Nugget Online Gaming (GNOG), the company announced on Thursday.
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