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Golden Nugget Online Gaming To Become Public

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Landcadia Holdings II, Inc. to Acquire Golden Nugget Online Gaming

Tilman J. Fertitta and Landcadia Holdings II,  Inc. announced today that Landcadia II has entered into a Purchase Agreement to acquire Golden Nugget Online Gaming, Inc. (“GNOG”), a US online real money casino owned by Tilman Fertitta, recognized by both its peers and customers alike as the industry leading online casino that brought Live Dealer to the US market place. Landcadia II is a publicly traded special purpose acquisition company co-sponsored by Fertitta Entertainment, Inc. and Jefferies Financial Group Inc.

GNOG will become only the second pure publicly traded online casino company in the US. The transaction is expected to close in the third quarter of this year.  Upon closing, Landcadia II intends to change its name to Golden Nugget Online Gaming, Inc. and its Nasdaq trading symbol to GNOG.

“GNOG is one of the best positioned companies to capitalize on this massive online gaming opportunity in the US,” said Rich Handler, Co-Chairman of Landcadia II and CEO of Jefferies LLC. “We at Jefferies couldn’t be more thrilled to partner with Tilman and bring this great opportunity to the public markets.”

Golden Nugget is a household name throughout the United States and its iGaming business is a well-established leader in New Jersey, the largest online gaming market in North America. GNOG has obtained market access, subject to regulatory approval, to Pennsylvania and Michigan and anticipates launching its online casino brand in each of those new markets in early 2021.

GNOG is known among its industry peers as the preeminent operator in the US online gaming market, having won the EGR North America Top Operator Award for three consecutive years. GNOG is known for its innovation, including initiating Live Dealer, Live Casino Floor gambling and a number of exclusive slot machine games to mobile devices, tablets and computers throughout New Jersey, as well as its top-notch 24/7 customer support.

Tilman J. Fertitta will remain GNOG’s Chairman and CEO, and Thomas Winter, who was brought in to develop Golden Nugget’s online gaming business, will continue to serve as GNOG’s President.  During the seven years since Thomas Winter started Golden Nugget’s iGaming business in New Jersey, revenues and profitability have grown each year despite facing competition with greater financial resources. According to Mr. Fertitta, “Golden Nugget is one of the most time-honored brands in the gaming business today. When customers hear the name Golden Nugget, they know they are dealing with a trusted online gaming business. Thomas and his team have done a remarkable job, are the best in the industry, and with this transaction, will have access to growth capital to allow for the rapid expansion of the business.”

GNOG Highlights

  • Started operation in New Jersey Q4 2013
  • Became profitable in 2016
  • First online gaming company to launch Live Dealer in the US
  • Won Industry award as top operator 3 years in a row
  • First to launch Live Casino Floor in US
  • Net Income of over $11 million in 2019

Key Transaction Terms

The transaction values the combined company at an anticipated pro forma enterprise value of approximately $745 million, or 6.1x GNOG’s estimated 2021 revenue of $122 million. The consideration payable to the parent entity of GNOG will consist of a combination of cash and rollover equity in Landcadia II.  Upon completion of the transaction, Tilman J. Fertitta, Chairman and CEO, will, through the parent entity of GNOG, hold a controlling economic interest (through an Up-C structure described below) and a controlling voting interest in the combined company.  The combined company will have a dual-class share structure with super voting rights for Mr. Fertitta.

Landcadia II will be assuming $150 million of GNOG debt of and will pay down at closing an additional $150 million of its debt, plus pay prepayment fees, transaction fees and expenses. Subject to redemptions, there is approximately $321 million currently held in Landcadia II’s trust account. Upon payment of the purchase price, debt repayment and transaction fees and expenses, the combined company will have at least $80 million on its consolidated balance sheet at closing and an anticipated pro forma equity market capitalization of nearly $700 million.

The transaction will be structured as an Up-C where an entity indirectly owned by Mr. Fertitta will retain common units of a partnership managed by the combined company and an equal number of non-economic voting shares in the combined company.  The combined company will also enter into a customary tax receivable arrangement with such entity indirectly owned by Mr. Fertitta, which will provide for the sharing of tax benefits relating to certain pre-combination tax attributes, as well as tax attributes generated by the transaction and any subsequent sales or exchanges by the entity indirectly owned by Mr. Fertitta of their equity interests, as those attributes are realized by the combined company.

The transaction has been unanimously approved by the Board of Directors of Landcadia II, upon the unanimous recommendation of a committee comprised solely of Landcadia II’s disinterested independent directors (the “Committee”).  The transaction will require the approval of a majority of the outstanding shares of Landcadia II, excluding shares beneficially owned by Tilman J. Fertitta and Jefferies Financial Group, and is subject to customary closing conditions, including certain regulatory approvals. Jefferies LLC is acting as exclusive financial and capital markets advisor to Landcadia II.  Haynes and Boone LLP is acting as legal advisor to GNOG. White & Case LLP is acting as legal advisor to Landcadia II. Houlihan Lokey, Inc. is serving as financial advisor to the Committee of Landcadia II.

 

SOURCE Landcadia Holdings II, Inc.

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GGPoker sets $300m guarantee for 2026 GG World Festival series

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Online poker festival runs May 3 to June 9 and includes a $3m leaderboard plus three $10m guaranteed flagship events.

GGPoker has announced the return of its GG World Festival tournament series, set to run from May 3 through June 9, 2026. The operator said the schedule will offer $300,000,000 in guaranteed prizes across the series, up from the $250m guarantee it offered last year.

The festival is split into four buy-in tiers: Low ($3–$25), Medium ($26–$150), High ($151–$1,050) and Super ($1,051+). GGPoker said the series will include hundreds of tournaments over five weeks.

GGPoker is also bringing back its festival leaderboard with $3,000,000 in additional prizes across the four tiers: $300K (Low), $700K (Medium), $1M (High) and $1M (Super).

Three events will anchor the schedule, each with a $10,000,000 guarantee: the $525 World Bounty Festival (Day 2) on May 18, the $10,000 GGMillion$ Main Event (Day 2) on May 25, and the $1,500 GG World Championship (Day 2) on June 1.

“Last year we set the bar at $250 million, and the community response was legendary,” said Daniel Negreanu, GGPoker Global Ambassador. “But at GGPoker, we don’t just want to meet expectations; we want to smash them over and over again. This year, we’re going to $300 million. Whether you’re playing a $3 Low Tier tournament or the $10K GGMillion$ Main Event, you’re part of the biggest thing to ever happen in online poker. This is the stage where legends are made.”

Relevant data as follows:

The post GGPoker sets $300m guarantee for 2026 GG World Festival series appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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GGPoker Shatters Records with Monumental $300M-Guaranteed GG World Festival

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The world’s biggest online poker series returns with a history-making prize pool, $3M leaderboard, and three $10M flagship events

GGPoker, the World’s Biggest Poker Room, today announces the return of the GG World Festival, the richest tournament series in the history of online poker. Running from May 3 through June 9, this year’s festival features a staggering $300,000,000 in guaranteed prizes, the largest total guarantee ever offered in a single online series, eclipsing last year’s record-setting $250M prize pool.

The 2026 edition of the GG World Festival has been designed by poker players, for poker players, with hundreds of individual tournaments running over five action-packed weeks. To ensure players of all bankrolls can participate in the record-breaking action, the schedule is divided into four buy-in tiers:

  • Low Tier: $3 – $25 buy-in
  • Medium Tier: $26 – $150 buy-in
  • High Tier: $151 – $1,050 buy-in
  • Super Tier: $1,051+ buy-in

In addition to the massive tournament guarantees, the GG World Festival Leaderboard returns with $3,000,000 in extra prizes, rewarding the most consistent performers across all four tiers throughout the series ($300K in prizes for the Low Tier Leaderboard, $700K for the Medium Tier Leaderboard, $1M in prizes for the High Tier Leaderboard and $1M in prizes for the Super Tier Leaderboard).

2026 Festival Highlights

The series is anchored by three marquee events, each boasting a $10,000,000 prize guarantee:

  • May 18 – $525 World Bounty Festival [Day 2] – $10M GTD: The fan-favorite format where any knockout could lead to a massive, life-changing mystery bounty
  • May 25 – $10,000 GGMillion$ Main Event [Day 2] – $10M GTD: The premier high-stakes showdown, attracting the world’s elite players and “Super Tier” specialists
  • June 1 – $1,500 GG World Championship [Day 2] – $10M GTD: The ultimate test of skill, crowning the 2026 champion with a massive eight-figure prize pool

“Last year we set the bar at $250 million, and the community response was legendary,” said Daniel Negreanu, GGPoker Global Ambassador. “But at GGPoker, we don’t just want to meet expectations; we want to smash them over and over again. This year, we’re going to $300 million. Whether you’re playing a $3 Low Tier tournament or the $10K GGMillion$ Main Event, you’re part of the biggest thing to ever happen in online poker. This is the stage where legends are made.”

Players can qualify for festival events through an extensive schedule of satellites and promotions at GGPoker. New players can also jump into the action with the GGPoker Welcome Bonus and the Honeymoon for Newcomers promotion.

For more information about this year’s GG World Festival, please visit: ggpoker.com/tournaments/ggpoker-world-festival

 

The post GGPoker Shatters Records with Monumental $300M-Guaranteed GG World Festival appeared first on Americas iGaming & Sports Betting News.

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Plaza adds Monday Night RAW ticket raffle to WrestleMania 42 viewing party

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Downtown Las Vegas casino also brings in WWE Hall of Famer Rob Van Dam for a live Q&A on April 18.

Plaza Hotel & Casino will host WrestleMania 42 viewing parties on April 18 and April 19 in its showroom in downtown Las Vegas, adding a ticket giveaway for WWE Monday Night RAW on the second night.

The casino said all guests attending the Sunday, April 19 viewing party can enter a free raffle to win two tickets to Monday Night RAW on Monday, April 20 at T-Mobile Arena, seated in one of the venue’s premier Loge Boxes.

On Saturday, April 18, the Plaza will feature WWE Hall of Fame wrestler Rob Van Dam (RVD) as a special guest. The property said RVD—also billed as “Mr. Monday Night”—will lead a live Q&A at 1:30 p.m. ahead of the WrestleMania 42 start time at 3 p.m., and will be available for autographs and photo ops.

Both events are 21+ and run in the Plaza showroom, with doors opening at 1 p.m. and the viewing party starting at 3 p.m. The Plaza said it will offer drink specials and buckets of beer priced at $30 for domestic brands and $35 for imported.

Tickets with seat selection are priced at $40 per person (plus fees and taxes), according to the casino, with details and purchasing available via the Plaza’s website.

Relevant data as follows:

The post Plaza adds Monday Night RAW ticket raffle to WrestleMania 42 viewing party appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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