DraftKings Inc. has agreed to acquire Golden Nugget Online Gaming Inc. for $1.6 billion. Simultaneously, DraftKings has entered into a commercial agreement with Fertitta Entertainment Inc., the parent company of the Houston Rockets and the Golden Nugget. The transaction, announced Aug. 9, is expected to close in the first quarter of 2022. DraftKings was advised by Sullivan & Cromwell. Golden Nugget, which is based in Houston, Texas, was represented by White & Case. Spectrum Gaming Capital, acting as financial advisors to the special committee of the board of Golden Nugget, was advised by Vinson & Elkins. Houston, Texas-based Fertitta was represented by a Latham & Watkins team.

This deal was surfaced by Law.com Radar, a source for high-speed legal news and litigation updates personalized to your practice. Law.com Radar publishes daily updates on just-announced transactions like this one. Click here to get started and be first to know about new suits in your region, practice area or client sector.

Read the press release here.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]