DraftKings to acquire Golden Nugget Online Gaming in all-stock deal valued at $1.56 billion

DraftKings Inc. dkng said Monday it has entered an statement to get Golden Nugget Online Gaming Inc. gnog successful an all-stock woody valued astatine astir $1.56 billion. The acquisition "will alteration DraftKings to leverage Golden Nugget's well-known brand, iGaming merchandise acquisition and existing combined database of much than 5 cardinal customers," the sports betting institution said successful a statement. As portion of the deal, DraftKings has entered a commercialized statement with Fertitta Entertainment Inc., the genitor institution of the Houston Rockets, Golden Nugget LLC and Landry's LLC, and a person successful the gaming, restaurant, hospitality, and sports amusement industry, the institution said successful a statement. DraftKings is expecting the woody to make $300 cardinal successful synergies astatine maturity. Under the presumption of the deal, Golden Nugget shareholders volition person 0.365 DraftKings stock per each stock owned. The woody is expected to adjacent successful the archetypal 4th of 2022. Golden Nugget shares soared 29% premarket, portion DraftKings was down 2.7%.