DONE DEAL
Fertitta's Golden Nugget online gaming casino officially sold to major sports company
May 6, 2022, 12:10 pm
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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Jalen Green made two free throws with 3.5 seconds left and the Houston Rockets beat the Golden State Warriors 91-90 on Wednesday night to advance to the NBA Cup semifinals in Las Vegas.
Houston snapped a 15-game skid against the Warriors, winning for the first time in the series since Feb. 20, 2020. The Rockets will face Oklahoma City, which beat Dallas in the other West quarterfinal game on Tuesday night, in the semifinals on Saturday.
Alperen Sengun led the Rockets with 26 points and 11 rebounds and Jabari Smith Jr. added 15 points.
Houston led by 14 before falling behind late to set up the thrilling finish.
Houston trailed by six with about 1 1/2 minutes left before Fred VanVleet made a 3-pointer and Sengun added a layup with 27 seconds to go to cut the lead to one.
Stephen Curry missed a 3-pointer with 11 seconds left and Gary Payton II grabbed the rebound, but Green intercepted his pass and was fouled by Jonathan Kuminga to set up the winning free throws.
The Warriors had a chance to win it at the buzzer but Smith blocked Brandin Podziemski’s 3-point attempt.
Takeaways
Warriors: Golden State beat the Rockets twice this season without Curry before losing Wednesday in a game where he had 19 points.
Rockets: This young team showed poise in finishing this one after squandering a double-digit lead.
Key moment
Green’s hustle on getting the ball late to draw the foul to set up the winning free throws.
Key stat
Houston won despite making just 6 of 27 3-pointers.
Up next
While Houston heads to Las Vegas this weekend, the Warriors will return to regular-season play Sunday at Dallas.