By the end of May, DraftKings should close on the $1.56 billion all-stock acquisition of Tilman Fertitta’s Golden Nugget Online Gaming company.
In a filing with the Securities and Exchange Commission, DraftKings said the companies “continue to pursue the remaining gaming regulatory approvals necessary” to complete the transaction, according to the Nevada Independent.
The transaction includes a commercial agreement with Fertitta Entertainment. The holding company controls businesses across gaming, lodging, dining, and entertainment sectors, including the Golden Nugget casinos in downtown Las Vegas, Laughlin and three other states.
Fertitta, who owns 46 percent of Golden Nugget Online Gaming will join the DraftKings board after the deal closes. DraftKings operates retail and online sportsbooks in 17 of the 20 states with legal sports betting.
Under terms of the agreement, Golden Nugget will rebrand all retail sportsbooks under the DraftKings name.
Since neither DraftKings nor Golden Nugget Online Gaming operates with a Nevada license, the deal does not require Nevada gaming regulators approval before it closes.
DraftKings will open a Las Vegas office for a technology hub to employee around 1,000 workers, second in size only to the Boston headquarters.
