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Landcadia is trying to bring Golden Nugget Online Gaming GNOG public through the merger with the SPAC, a maneuver that has gained popularity this year and brought public numerous other companies.
If, or more likely when, the merger with GNOG is approved, the online gambling operation will become only the second pure play online casino after DraftKings.
Tilman Fertitta is the chairman and CEO of Landcadia, but he's also CEO of GNOG, and he owns the land-based Golden Nugget casino, as well as numerous restaurants through his Fertitta Entertainment.
Fertitta and Jefferies created another SPAC, Landcadia Holdings III , reportedly to take his restaurants and casino public.
Landcadia stated in its SEC filing that it believes the reason not enough votes were cast for the GNOG merger at the special meeting was because a majority of its shares were held by retail investors.
It also said because Fertitta and Jefferies have voted in favor of the proposed changes, the measures will likely pass, meaning the SPAC's merger with GNOG will be approved.
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Thomas Winter, president of Golden Nugget Online Gaming, and the rest of the management team will continue in their respective roles,it said. Tilman Fertitta, owner of Landry's, Inc.
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NASDAQ: DKNG. Related Articles.10/19/ · Golden Nugget Online Gaming is a Market Leader. Golden Nugget Online Gaming is one of five leading players in New Jersey’s established Author: Luke Lango. 12/29/ · The special purpose acquisition company, Landcadia Holdings II, acquired Golden Nugget Online Gaming and took its name, Fertitta said in a news release. The company is .