DraftKings set to acquire Golden Nugget for $1.56 Billion

DraftKings has today announced its further expansion within the online betting market after acquiring Golden Nugget for a reported $1.56 Billion.

DraftKings has today announced its further expansion within the online betting market after acquiring Golden Nugget for a reported $1.56 Billion.

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DraftKings Inc., one of the biggest names in the casino, sports betting and Daily Fantasy Sports industries, has agreed to buy Golden Nugget Online Gaming Inc. for a reported $1.56 Billion.

The acquisition benefits DraftKings Inc. in both a casino and sports betting capacity. The agreement gives DraftKings a greater range of casino-type betting games, but also expands its market share in sports wagering. Both of these benefits are vital at a time when the online casino gaming and online sports betting markets are rapidly growing in the United States.

Golden Nugget’s share price sky-rocketed following the news. As part of the deal, DraftKings will enter into a commercial agreement with Fertitta Entertainment Inc. (owned by billionaire Tilman Fertitta). Fertitta Entertainment Inc. is the parent company of the Houston Rockets, Golden Nugget LLC and Landry’s LLC. All of this suggests good signs of continued growth for DraftKings Inc. as the US online gaming market progresses.

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