DraftKings has announced a deal to acquire Golden Nugget Online Gaming, while GNOG has once again seen a record increase in year-to-year revenue.
Golden Nugget Online Gaming (GNOG) has seen another fantastic H1 in terms of revenue, recording an increase of 38.7% to a total of $58.4 million. $51.1 million of this figure came directly from gaming.
While these figures are significant, it is also important to note the increased expenses GNOG reported as well: an increase of 56.1% to $71.2 million. $26.9 million was revenue costs, $30.9 million on advertising and promotions, and $13.4 million on administrative costs.
This brings GNOG to a total operating loss of $12.8 million for the first half of the year.
GNOG chairman and CEO, Tilman Fertitta, released a statement saying, “We are proud to have achieved another solid quarter driven by the strength of our new customer growth both in our established and newer markets. Golden Nugget Online Gaming continues to successfully execute on our national expansion, while concurrently strengthening our capabilities and product offerings with key partnerships. We are increasingly encouraged by our results and look forward to executing on the significant and growing market opportunity available to us.”
DraftKings has announced a deal to acquire Golden Nugget Online Gaming for $1.56 billion in stock.
This deal is set to make them one of the biggest online casino brands in New Jersey.
In a statement released by Jason Robins, DraftKings’ CEO and Chairman of the Board, Robins stated “Our acquisition of Golden Nugget Online Gaming, a brand synonymous with igaming and entertainment, will enhance our ability to instantly reach a broader consumer base, including Golden Nugget’s loyal ‘igaming-first’ customers. This deal creates meaningful synergies such as increased combined company revenues driven by additional cross-sell opportunities, loyalty integrations, and tech-driven product expansion, as well as technology optimization and greater marketing efficiencies. We look forward to Tilman being an active member of our board and one of our largest shareholders.”
“This transaction will add great value to the shareholders as two market leaders merge into a leading global player in digital sports, entertainment, and online gaming. Leveraging Fertitta Entertainment’s broad entertainment offerings and extensive customer database, coupled with DraftKings’ mammoth network, makes this an unbeatable partnership. Together, we can offer value to our combined customer base that is unparalleled. We believe that DraftKings is one of the leading players in this burgeoning space and couldn’t be more excited to lock arms with Jason and the DraftKings family across our entire portfolio of assets, including the Houston Rockets, the Golden Nugget casinos, and Landry’s vast portfolio of restaurants. This is a strong commercial agreement for both companies.”
New players to DraftKings can expect a welcome package that includes a 100% match bonus up to $1,500 on their first deposit.
Blackjack players will also be delighted in their Hot Streaks Blackjack promotion. To qualify, just play any eligible DraftKings Blackjack game and go on a winning streak to achieve the longest streak of any player. At the end of each month, the players with the longest winning streak per game win $10,000. This promotion renews every month.
There are always regular promotions at Golden Nugget, including their $300,000 Monthly Race, where players battle it out for their piece of the bonus cash prize.
With the acquisition of GNOG by DraftKings imminent, things may change when it comes to promos. But, we expect nothing but good changes.
Be sure to check out our Offers page for all the latest promotional offers at NJ’s top online casinos!
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