The entity itself will merge with publicly traded Landcadia Holdings II Inc., a “blank check” acquisition company established by Fertitta that currently trades under the symbol LCA. The license granted to GNOC makes the entity an internet gaming affiliate of Golden Nugget casino. Through the first 10 months of 2020, Golden Nugget has won more than $263 million from online gaming.
The land-based casino only generated $22 million more than online for the entire year. In 2019, Golden Nugget reported more than $177 million in online gaming revenue.
The approval comes as Golden Nugget Atlantic City continues to be the market leaders in online gambling in New Jersey. Federal regulators must still sign off on the deal. The move was approved at a special meeting of the commission the day before Thanksgiving, requested by Golden Nugget casino owner Tilman Fertitta. The New Jersey Casino Control Commission last week granted a casino license to Golden Nugget Online Gaming LLC, and approved the internet casino subsidiary’s request to merge with a purpose acquisition company to become a public company traded on the Nasdaq exchange.
