Gambling in the USA

Golden Nugget Online Gaming To Become Public

Published

5 years ago

June 29, 2020

George Miller

Reading Time: 4 minutes

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.

American gambling industry

Gaming Americas Weekly Roundup – November 3-9

Published

1 day ago

November 11, 2025

Niji Narayan

gaming-americas-weekly-roundup-–-november-3-9

Reading Time: 2 minutes

Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.

Latest News

Petroglyph Development Group (PDG), a wholly owned corporation of Snuneymuxw First Nation (Snuneymuxw), and Great Canadian Entertainment announced that they have entered into definitive agreements for the purchase by PDG from Great Canadian Entertainment of two casino businesses, River Rock Casino Resort and Chances Maple Ridge. Upon closing and subject to regulatory and other approvals, PDG is expected to become one of the largest casino operators by revenue in British Columbia, and anticipates being the largest Canadian Indigenous owned gaming operator by revenue in Canada, cementing Snuneymuxw as a leading force in the province’s gaming industry. Building on PDG’s recent acquisitions of Casino Nanaimo and Elements Casino Victoria earlier this year, these transactions demonstrate the strength of the collaboration between PDG and Great Canadian Entertainment and the momentum of PDG’s growing gaming platform.

Churchill Downs Incorporated (CDI) has announced the promotion of Michael Meagher to Senior Vice President of Gaming Operations, effective November 3, 2025. Meagher succeeds Maureen Adams, whose retirement was announced earlier this year. He will oversee operations at all gaming and HRM locations throughout the CDI portfolio, along with corporate gaming functions, including analytics, marketing and product performance. Meagher will report directly to Bill Mudd, President and Chief Operating Officer of CDI. Meagher has served as Vice President of Gaming Operations since 2022, where he oversaw nine gaming properties across CDI’s portfolio, including the development and successful grand opening of Terre Haute Casino Resort. In this role, he was instrumental in driving operational performance, enhancing guest experiences and supporting the Company’s continued growth in regional gaming markets.

Partnerships

Zoomd Technologies Ltd has announced that it has entered into a strategic partnership with E2-Quadrat communications GMBH (E2), a global leader in digital marketing and technology solutions for the sports and betting industry. With over two decades of experience in the industry, E2 has established itself as a trusted partner to some of the most prominent names in the sector. The privately owned company operates a broad international network of offices enabling it to serve clients on a truly global scale. This partnership is expected to enable E2’s current and future clients worldwide to benefit from Zoomd’s advanced user acquisition (UA) technologies and performance marketing expertise and aligns with Zoomd’s strategic focus on expanding its impact across high-growth verticals.

MyPrize, the fastest growing social gaming business in the US, has announced a strategic partnership with Crypto.com | Derivatives North America (CDNA), a CFTC-registered exchange and clearinghouse and an affiliate of Crypto.com, to launch MyPrize Markets, a first of its kind product allowing users to access social gaming and prediction markets for the first time in one unified platform. As Crypto.com’s first social gaming partner, MyPrize will leverage the company’s enterprise-grade infrastructure to deliver an engaging and intuitive prediction market experience to its massive global user base, now numbering over 1 million+. This strategic partnership continues MyPrize’s explosive growth in 2025 and further cements its market position as the leading social gaming and entertainment platform.

The post Gaming Americas Weekly Roundup – November 3-9 appeared first on European Gaming Industry News.

American gambling industry

Gaming Americas Weekly Roundup – October 27-November 2

Published

1 week ago

November 4, 2025

Niji Narayan

gaming-americas-weekly-roundup-–-october-27-november-2

Reading Time: 2 minutes

Latest News

The National Council on Problem Gambling (NCPG) announced the addition of the Texas Coalition on Problem Gambling and the Vermont Council on Gaming and Health as its newest state Affiliate members, joining a growing community of organisations dedicated to advancing prevention, education, treatment and recovery for those impacted by problem gambling. While NCPG advocates for problem gambling programmes, policies and funding at the national level, its state affiliates focus efforts closer to home – connecting individuals and families with local resources, community partners and culturally relevant support. With these new additions, NCPG now has Affiliates in 37 states.

The Michigan Gaming Control Board (MGCB) has taken further enforcement action against unlicensed gambling operators, issuing cease-and-desist letters to eight online casinos found to be illegally offering internet gaming to Michigan residents. The letters were recently sent to Aussie Play, CryptoGames, FortuneJack, Hugewin Casino, My Stake Casino, Play at Harry’s Casino, RuneChat and Slots Garden. Michigan’s regulated internet gaming and sports betting markets are reserved exclusively for operators licensed and monitored by the MGCB. Any site that offers gambling without state authorisation violates multiple statutes, including the Lawful Internet Gaming Act, the Michigan Gaming Control and Revenue Act and sections of the Michigan Penal Code.

Great Canadian Entertainment announced that 10 of its casinos from coast to coast have successfully achieved RG Check reaccreditation, one of the world’s most comprehensive and rigorous responsible gambling accreditation programmes. RG Check is governed by the Responsible Gambling Council (RGC), an independent non-profit organisation recognised internationally for advancing responsible gambling standards. The programme evaluates gaming facilities on a broad set of best-practice criteria, including player safeguards, staff training, self-exclusion options, advertising standards and continuous improvement practices.

Partnerships

CT Interactive is expanding its presence in Peru with a new content launch on Te Apuesto, offering players a curated selection of top-quality games proven successful in other regulated markets. As part of the launch, Te Apuesto will offer exclusive access to Duck of Luck Buy Bonus from CT Interactive’s popular Buy Bonus series. The game features an innovative one-level Buy Bonus mechanic, delivering more strategic gameplay and greater player control. Another exclusive title, Lucky Clover 10, features vintage-inspired graphics and a strong mathematical model, delivering a smooth, engaging gameplay experience. In addition the exclusive titles, Te Apuesto players will also enjoy a variety of new games, including Enchanted Woods, The Shining Globe, Hyper Cuber, The Wild Rhino and Kyoto Magic.

Betsson Group has announced a new partnership with the Peruvian Volleyball Federation (FPV), becoming the Official Sponsor and Naming Partner of Peru’s premier women’s volleyball competition, now officially called the Betsson Peruvian Volleyball League. The 2025/2026 season of the Betsson Peruvian Volleyball League will take place from 25 October 2025 to 3 May 2026, marking the beginning of an exciting new chapter for Peruvian volleyball. This partnership aims to elevate the visibility, professionalism and competitive standards of the sport, strengthening its presence both nationally and internationally. During an official press conference, FPV President Gino Vegas highlighted the key developments of the organisation of the tournament and expressed his enthusiasm for Betsson’s involvement as the league’s new main partner.

The post Gaming Americas Weekly Roundup – October 27-November 2 appeared first on European Gaming Industry News.

American gambling industry

Gaming Americas Weekly Roundup – September 29-October 5

Published

1 month ago

October 7, 2025

Niji Narayan

gaming-americas-weekly-roundup-–-september-29-october-5

Reading Time: 2 minutes

Latest News

Jackpot Digital Inc. has announced that it has been granted a Manufacturer and Distributor License by the Mississippi Gaming Commission. This approval authorizes Jackpot Digital to supply gaming equipment to licensed casino operators throughout Mississippi. This marks the Company’s second state-level manufacturer’s license in the US. Additional licensing applications are currently pending in other jurisdictions as part of the Company’s ongoing growth strategy. Mississippi is one of the nation’s premier destination gaming markets, generating over $2.4 billion in gross gaming revenue in 2023. The state’s Gulf Coast and Biloxi regions are particularly well known for their vibrant casino tourism and established gaming brands.

iDEA (iDevelopment and Economic Association), the leading trade association representing the U.S. online gaming industry, launched the definitive online destination for all things online gambling: ideagrowth.org. The new website provides the media, and U.S. legislators and regulators, a comprehensive resource for data-driven research, policy insights, and responsible gaming resources. The new website provides the industry’s most vital statistics and research — from consumer protections to economic development — in an engaging, accessible format designed for maximum impact.

CT Interactive has further strengthened its international presence by expanding its certified game portfolio on the regulated Peruvian market with 20 new titles. This milestone underscores the company’s commitment to delivering high-quality, engaging gaming content tailored specifically to regional markets. The newly certified portfolio features titles from CT Interactive’s popular Buy Bonus product line, including fan favorites such as Duck of Luck, Fruits & Sweets, Doctor Winstein, and Nanook the White Ghost. These enhanced editions deliver dynamic gameplay with one- or three-level Buy Bonus options, giving players new tools for diverse strategies and greater control over the game’s pace and excitement. A highlight of the newly certified titles is the launch of Lucky Clover 10, the latest addition to the acclaimed Clover-themed series.

Partnerships

CT Interactive has entered a new phase of its Latin American growth by launching its complete portfolio of games on Rushbet in Mexico and Peru. This collaboration with Rush Street Interactive—one of the region’s leading online casino and sportsbook operators—marks a significant step in the company’s international expansion. Players on Rushbet now have access to proven favorites like Lucky Clover, 40 Treasures, Win Storm and Big Chilli, along with the engaging Hot Luck three-level jackpot, designed to enhance player excitement and retention. This partnership underscores CT Interactive’s commitment to long-term collaboration and delivering tailored gaming solutions across diverse Latin American markets.

Hard Rock International has announced its 26th annual PINKTOBER campaign in partnership with Sports Illustrated Swimsuit ahead of this Breast Cancer Awareness Month. As a global entertainment and hospitality brand guided by the principle “All is One,” Hard Rock is leveraging every touchpoint to support the cause throughout October, from a limited-edition retail collection to special menu items and events. A portion of proceeds from PINKTOBER sales each year are donated to the Hard Rock Heals Foundation, the charitable arm of Hard Rock, to support breast cancer awareness and research worldwide. The program has raised over $13 million for breast cancer research since its inception.

The post Gaming Americas Weekly Roundup – September 29-October 5 appeared first on European Gaming Industry News.