DONE DEAL

Fertitta's Golden Nugget online gaming casino officially sold to major sports company

Fertitta has about $1.6 million reasons to smile. Photo by J. Thomas Ford

The acquisition of Tilman Feritta’s Golden Nugget Online Gaming, Inc. (Nasdaq: GNOG) by digital sports entertainment and gaming company DraftKings Inc. (Nasdaq: DKNG) is complete.

DraftKings announced that it has completed the acquisition, worth at approximately $1.6 billion (dubbed the “GNOG Acquisition”) on Thursday, May 5.

“This will be an alliance unlike any other in the digital sports, entertainment and online gaming industry,” Fertitta said in a statement . “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 notes in a press release that this GNOG Acquisition will allow the company to leverage Golden Nugget’s established brand to “broaden its reach into new customer segments and enhance the combined company’s iGaming product offerings through DraftKings’ vertically integrated tech stack and Golden Nugget Online Gaming’s unique capabilities – including Live Dealer.”

Notably, the GNOG Acquisition will not include brick and mortar Golden Nugget casinos; Fertitta will maintain ownership of those entities.

The GNOG Acquisition will deliver “significant” benefits to DraftKings, as well as expected savings of $300 million, a release notes. The company aims to deploy a multi-brand approach meant to enhance cross-selling opportunities and drive increased revenue.

Additionally, DraftKings and Fertitta Entertainment expect to rebrand some current and future retail sportsbook locations at Fertitta Entertainment-owned Golden Nugget properties into DraftKings sportsbooks.

As CultureMap previously reported, DraftKings' agreement with Fertitta Entertainment will provide...continue on CultureMap.

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Jose Altuve is expected to miss significant time. Photo by Bob Levey/Getty Images.

Astros second baseman Jose Altuve was hit by a pitch during Saturday's WBC game between Venezuela and the USA, which put a scare into Astros fans, and caused him to exit the game.

Now we're hearing Altuve with have to miss some time and won't be ready to start the season.

Bob Nightengale is reporting that the pitch broke Altuve's right thumb and he is expected to miss 8–10 weeks.

The Astros have not given an official update on the specifics of the injury.

Editor's note: The Astros have now given an update on Altuve's injury. He has a fractured thumb and will have surgery soon.

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