The daily fantasy sports operator DraftKings has announced that it has acquired Golden Nugget Online Gaming for an undisclosed sum. The deal, which is subject to regulatory approval, will see Golden Nugget’s online casino and sports betting operations added to the DraftKings platform.
DraftKings says that the acquisition will help it to expand its reach in the US gaming market. “We are thrilled to add Golden Nugget’s online gaming business to the DraftKings platform,” said Jason Robins, CEO and co-founder of DraftKings. “This transaction significantly expands our addressable market and reinforces our position as the clear leader in mobile sports betting and online gaming.”
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“The Golden Nugget brand is synonymous with quality, innovation and customer service,” said Tilman Fertitta, owner and CEO of Landry’s, Inc., the parent company of Golden Nugget. “We are excited to join forces with DraftKings, the clear leader in fantasy sports and online gaming.” The deal comes just a few months after DraftKings launched its online casino operations in New Jersey. The company is also active in the sports betting market, and recently secured a partnership with ESPN to launch a new daily fantasy sports game.
With the addition of Golden Nugget’s online gaming business, DraftKings will now offer its products to customers in four US states: New Jersey, Nevada, Delaware and Pennsylvania. The company says that it is “well positioned” to enter additional markets as they open up in the future. DraftKings has been on a tear lately, with a string of acquisitions and partnerships that have bolstered its position in the US gaming market. In addition to the Golden Nugget deal, the company has also acquired the daily fantasy sports site StarStreet, and struck partnerships with the likes of Major League Baseball, the National Hockey League, and Madison Square Garden.
What is DraftKings and what does it do?
DraftKings is a leading operator of daily fantasy sports and online gaming. The company offers its products to customers in four US states: New Jersey, Nevada, Delaware and Pennsylvania. DraftKings has been on a tear lately, with a string of acquisitions and partnerships that have bolstered its position in the US gaming market. In addition to the Golden Nugget deal, the company has also acquired the daily fantasy sports site StarStreet, and struck partnerships with the likes of Major League Baseball, the National Hockey League, and Madison Square Garden.
What is Golden Nugget Online Gaming and what does it do?
Golden Nugget Online Gaming is an online casino and sports betting operator. The company offers its products to customers in four US states: New Jersey, Nevada, Delaware and Pennsylvania. Golden Nugget has been on a partnership with DraftKings since 2018. The company is also active in the sports betting market, and recently secured a partnership with ESPN to launch a new daily fantasy sports game.
Why did DraftKings buy Golden Nugget Online Gaming for $18 million dollars in cash and stock options?
The deal, which is subject to regulatory approval, will see Golden Nugget’s online casino and sports betting operations added to the DraftKings platform. DraftKings says that the acquisition will help it to expand its reach in the US gaming market. “We are thrilled to add Golden Nugget’s online gaming business to the DraftKings platform,” said Jason Robins, CEO and co-founder of DraftKings. “This transaction significantly expands our addressable market and reinforces our position as the clear leader in mobile sports betting and online gaming.”