DraftKings Complete Purchase of Golden Nugget Online Gaming
DraftKings has completed the acquisition of Golden Nugget Online Gaming division, helping the fantasy sports titan reach new markets and expand their iGaming endeavors to reach a broader audience.
DraftKings Michigan first announced plans to purchase Golden Nugget Online Gaming back in August 2021 for a value of approximately $1.56 billion. The process was delayed, however, and DraftKings stock has plummeted since then, leaving GNOG shareholders with 0.365 shares of DKNG stock for each share they held in GNOG.
Golden Nugget Online Gaming has approximately 5 million users, spread out across various US states, including Michigan and New Jersey, and owns various operating licenses.