DraftKings Completes Acquisition for Golden Nugget Online Gaming

DraftKings successfully completed its acquisition of Golden Nugget Online Gaming (GNOG) on 5th May, 2022. This allows the sportsbook operator to leverage Golden Nugget’s brand and penetrate into new customer segments. The now combined iGaming product offering is expected to improve the overall customer experience through DraftsKings’ vertically-integrated tech stack and GNOG’s unique capabilities – including Live Dealer. “Acquiring Golden Nugget Online Gaming gives us synergies across our business,” said Jason Robins, Chairman and CEO of DraftKings. “We anticipate that this acquisition will provide meaningful revenue uplift by utilizing our data-driven marketing capabilities and a dual brand iGaming strategy, gross margin improvement opportunities, and cost savings across external marketing and SG&A. I am proud to welcome the Golden Nugget Online Gaming team to the DraftKings family.” The GNOG Acquisition will deliver significant benefits to DraftKings as well as expected synergies of $300 million at maturity. A multi-brand approach will be deployed to enhance cross-selling opportunities and drive increased revenue growth. DraftKings also plans to bring GNOG onto its in-house technology, which is expected to deliver cost savings by reducing third-party platform costs, operating expenses and vendor costs. “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. “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.” The acquisition, however, does not include any of the brick-and-mortar Golden Nugget casinos. Fertitta Entertainment will maintain ownership of those locations under the terms of the deal. About DraftKings: DraftKings is a multi-channel provider of sports betting and gaming technologies, powering sports and gaming entertainment for operators in 17 countries. Started in 2012 by Jason Robins, Matt Kalish and Paul Liberman, it currently operates iGaming in 5 states through its DraftKings brand and now in an additional 3 states with its GNOG acquisition. Its Sportsbook is live in 18 states in the US and it is the official daily fantasy and sports betting partner of the NFL, NBA, MLB, NHL, PGA TOUR and UFC as well as an official daily fantasy partner of NASCAR.