Sports betting company DraftKings (DKNG) has entered an all-stock deal worth $1.56 billion to acquire Golden Nugget Online Gaming (GNOG). DraftKings has also signed a commercial agreement with Fertitta Entertainment, Inc., the parent company of the Houston Rockets, Golden Nugget, LLC and Landry’s LLC. The transactions are expected to close in the first quarter of 2022, subject to necessary approvals. With this acquisition, DraftKings’ revenues are expected to increase due to additional cross-promotion opportunities, which is also likely to expand its customer base. Also, revenue synergies are expected through potential technology and game expansion, including Live Dealer offerings.
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