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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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Gambling in the USA

RubyPlay expands US footprint with West Virginia launch

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RubyPlay, a studio-driven content ecosystem, has further strengthened its position in the regulated US iGaming market with its official launch in West Virginia, marking its third state entry.

The expansion brings RubyPlay’s distinctive portfolio of premium titles to the Mountain State, giving leading US operators access to high-performing games such as Vegas No Limit Wins SE, Mad Hit® Diamonds, and Mad Hit® Devil.

Operators in West Virginia will benefit from RubyPlay’s flexible content platform, built on shared technology, infrastructure, and distribution capabilities designed to meet individual partner requirements.

At the core of the offering is RubyPlay’s studio-based ecosystem, which includes market-specific studios like xSlots. These studios deliver localised content, bespoke game development, and faster time to market, helping operators create more tailored player experiences.

The move continues RubyPlay’s steady expansion across the US, following successful entries into New Jersey and Delaware. As the company builds momentum in regulated markets, the US remains a central pillar of its growth strategy, with plans to enter Pennsylvania in the near future.

“Our launch in West Virginia reflects RubyPlay’s ongoing commitment to expanding across regulated US markets,” said Dima Reiderman, Chief Commercial Officer at RubyPlay.
“Each new state allows us to strengthen our commercial presence while building valuable partnerships with leading operators.

“Through our studio-driven model, we enable operators to deliver content that aligns closely with their strategy and audience, creating more relevant and differentiated player experiences.”

The post RubyPlay expands US footprint with West Virginia launch appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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2026 Indian Gaming Tradeshow & Convention

BMM Innovation Group to Advise Tribal Leaders on Compliance, Cybersecurity and Training at IGA 2026

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BMM Innovation Group, an international technology firm offering compliance testing, cybersecurity, and training services for the regulated global gaming sector, today declared its backing and involvement in the 2026 Indian Gaming Tradeshow & Convention (IGA) from March 30 to April 2 at the San Diego Convention Center. With its three leading brands, BMM Testlabs, BIG Cyber, and RG24seven Virtual Training®, BIG maintains its enduring dedication to supporting Tribal regulators, suppliers, and operators throughout North America.

The BMM Innovation Group serves as a sponsor for the show, highlighting its evident and continued commitment to the Tribal gaming community. The Company is dispatching representatives from BMM Testlabs, BIG Cyber, and RG24seven Virtual Training to engage with Tribal leaders and industry partners during the event.

BMM Chief Government and Regulatory Officer Travis Foley said, “Tribal gaming has always been central to BMM’s story. We are honored to support the Indian Gaming Association and to continue working alongside Tribal suppliers, regulators, and operators to strengthen compliance, protect players, and support sustainable growth across Indian Country.”

At the conference, BIG specialists will participate in multiple key educational sessions aimed at assisting Tribal gaming organizations in enhancing operations, security, responsible gaming, and human resources:

  • Peter Nikiper, Director-Technical Compliance, will deliver Level III Commissioner Training on Network Risk Assessment, helping regulators better understand today’s evolving technology risks.
  • Heather Lee, Senior Director of Sales at BIG Cyber, will moderate the panel Cyber Defense Fundamentals: Protecting the Gaming Enterprise, focused on practical strategies to strengthen cybersecurity readiness.
  • Wendy Anderson, CEO of RG24seven Virtual Training, will speak on the responsible gaming panel, Innovate. Protect. Heal: The Future of Tribal Problem Gambling Prevention Begins Here, and will also moderate the HR-focused session, Workforce Sustainability: Building Talent Pipelines That Actually Hold.

BMM Innovation Group provides Tribal gaming organizations an all-encompassing range of services via BMM Testlabs, BIG Cyber, and RG24seven Virtual Training, which includes product testing and certification, cybersecurity safeguards, and compliance-focused virtual training tailored for gaming staff.

The post BMM Innovation Group to Advise Tribal Leaders on Compliance, Cybersecurity and Training at IGA 2026 appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Fredrik Liljewall CEO at PlayStar

Strive Gaming Partners with PlayStar Casino to Expand Presence in New Jersey

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Strive Gaming, the contemporary multi-state, multi-tenant platform provider designed for the North American market, has unveiled a new collaboration with prominent online casino operator PlayStar.

According to the agreement, Strive will offer its top-tier PAM technology, aiding PlayStar’s ongoing expansion throughout North America. PlayStar is set to transition its New Jersey operations from its existing player account management (PAM) provider to the Strive platform, with subsequent launches planned in more regulated areas, such as Ontario and Alberta in Canada.

PlayStar chose Strive after a comprehensive assessment as it sought a platform partner that could facilitate its long-term goals throughout North America. Strive’s exclusive emphasis on the U.S. market, along with the robustness and scalability of its technology, distinguished it as the obvious partner of choice.

Max Meltzer, CEO at Strive Gaming, said: “PlayStar is a highly ambitious operator with a clear vision for building one of the leading casino brands in North America. They were looking for a platform partner that understands the realities of operating in the U.S. and Canada and can support them as they scale across multiple regulated markets.

“Our focus on North America, combined with the strength and flexibility of our platform, made this a natural fit. Both companies are on strong growth journeys and share similar ambitions for the region, so we’re excited to support PlayStar as they continue to expand.”

PlayStar Casino has quickly established itself as one of the success stories of the regulated North American casino market. The company has successfully built meaningful market share and a strong player following. Partnering with Strive marks the next stage in its growth strategy as it looks to expand further across North America.

Fredrik Liljewall, CEO at PlayStar, added: “As we continue to scale our presence across North America, selecting a platform partner with a strong regional focus and the ability to support our long-term ambitions was critical.

“Strive’s technology, deep understanding of the North American market, and collaborative mindset made them the clear partner for PlayStar. We look forward to working closely together as we migrate our New Jersey operations and expand into additional jurisdictions, including Canada.”

This partnership marks another important milestone for Strive Gaming, which now supports more B2B PAM customers in the U.S. than any other platform provider. The addition of PlayStar further strengthens Strive’s growing portfolio of operators and reinforces its position as a supplier of choice for ambitious brands looking to launch and scale in the North American market.

The post Strive Gaming Partners with PlayStar Casino to Expand Presence in New Jersey appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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