DONE DEAL
Fertitta's Golden Nugget online gaming casino officially sold to major sports company
May 6, 2022, 12:10 pm
DONE DEAL
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.
The New York Jets interviewed Pittsburgh Steelers offensive coordinator Arthur Smith and Houston Texans offensive coordinator Bobby Slowik for their head coach position Thursday.
The meetings with Smith and Slowik gave the Jets 12 known candidates with whom they've spoken about their vacancy.
New York has also interviewed Aaron Glenn, Vance Joseph, Mike Locksley, Matt Nagy, Ron Rivera, Darren Rizzi, Rex Ryan, Steve Spagnuolo, Jeff Ulbrich and Mike Vrabel for the job. Vrabel has since been hired by New England as its coach.
Minnesota Vikings defensive coordinator Brian Flores and Green Bay Packers defensive coordinator Jeff Hafley are also expected to meet soon with the Jets.
The 42-year-old Smith, who was the Atlanta Falcons' head coach from 2021-23, was considered one of the Jets' top candidates in 2021 when he interviewed with the team before New York hired Robert Saleh. Smith was hired by the Falcons the next day and went 21-30, with three straight 7-10 finishes, before being fired after the 2023 season.
Mike Tomlin hired Smith last offseason to run the Steelers' offense, which improved in several categories this season with Russell Wilson at quarterback as Pittsburgh made the playoffs.
Smith spent 10 years with Tennessee, including the last two as the Titans' offensive coordinator in 2019 and 2020. He previously had a stint with Washington as its defensive quality control coach in between college stops at North Carolina (2006) and Mississippi (2010).
The 37-year-old Slowik met with the Jets in a video interview since the Texans remain in the playoffs and are preparing to face the Chiefs in Kansas City on Saturday.
He's in his second year running the Texans' offense with quarterback C.J. Stroud, who was last season's AP NFL Offensive Rookie of the Year and has been one of the league's most dynamic young playmakers.
Slowik, whose father Bob coaches in the CFL after several years as an NFL assistant, spent six years as an assistant under Kyle Shanahan in San Francisco before joining the Texans. The Princeton, New Jersey, native started his pro coaching career as a video assistant for Washington in 2010 before being promoted to defensive assistant, a role he held for three years. Slowik then worked at Pro Football Focus as a senior analyst for three years before being hired by the 49ers.
The Jets are also conducting an extensive search for a new general manager. They have interviewed 15 candidates for that position, including Green Bay Packers executive Jon-Eric Sullivan and Miami Dolphins assistant general manager Brian Gaine on Tuesday.