(PENN)-backed Barstool Sports, FanDuel owner Flutter Entertainment The validation from Fertitta is a clear positive for DraftKings, which is looking to stand out in an increasingly competitive gambling market.

To that end, Fertitta agreed to an all-stock transaction rather than including cash in the deal. Super Bowl LV will be a bonanza for gambling companiesįertitta, who owns about 46% of Golden Nugget Online Gaming’s stock, has agreed to hold on to new DraftKings shares that will be issued as part of the deal for a minimum of one year following the closing of the merger, which could take place within the next four to six months.īut Robins said Fertitta has told him he plans to be a long-term investor in DraftKings. (Photo by Mike Ehrmann/Getty Images) Mike Ehrmann/Getty Images The company also plans to open a new sportsbook in the Toyota Center, home of Fertitta’s Houston Rockets, if Texas legalizes sports betting and allows teams to operate casinos.Īn aerial view of Raymond James Stadium ahead of Super Bowl LV on Januin Tampa, Florida. “The Golden Nugget brand resonates more than DraftKings for the casino audience,” Robins said, adding that DraftKings hopes to encourage Golden Nugget Online Gaming customers to try the company’s core sports betting products.Īs part of the Golden Nugget deal, DraftKings will also work more closely with other parts of Fertitta’s business empire, which includes the Landry’s restaurant chain and brick and mortar Golden Nugget casinos in Las Vegas and Atlantic City.ĭraftKings will now have preferred pricing deals at sportsbooks in the Golden Nugget casinos that will reduce costs to operate sports betting operations there. The online gaming brand means more to older customers who are more frequent casino visitors and is also more popular with women, Robins said, while the average DraftKings bettor tends to be a younger man. But DraftKings also boosted its revenue outlook for the rest of 2021.ĭraftKings CEO Jason Robins said in an interview with CNN Business that he thinks buying Golden Nugget Online Gaming will help increase the company’s customer base and “fills a meaningful hole for us.” Of course, the sports world was still largely in shutdown mode during the spring and early summer of 2020 due to Covid-19. DraftKings tumbles after research firm alleges black market ties

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