Latham & Watkins Advises Tilman Fertitta and Fertitta Entertainment in connection with its US$1.56 Billion Sale of Golden Nugget Online Gaming

A corporate deal team advises the parent company of the Houston Rockets, Golden Nugget, LLC and Landry’s LLC in the transaction with DraftKings.

August 09, 2021

DraftKings Inc. (Nasdaq: DKNG) and Golden Nugget Online Gaming, Inc. (Nasdaq: GNOG) have announced that they have entered into a definitive agreement for DraftKings to acquire Golden Nugget Online Gaming in an all-stock transaction that has an implied equity value of approximately US$1.56 billion. The acquisition will enable DraftKings to leverage Golden Nugget’s well-known brand, iGaming product experience and existing combined database of more than five million customers. In connection with the acquisition, DraftKings has entered into a commercial agreement with Fertitta Entertainment, Inc., the parent company of the Houston Rockets, Golden Nugget, LLC and Landry’s LLC, and a leader in the gaming, restaurant, hospitality, and sports entertainment industry.

Latham & Watkins LLP represents Tilman Fertitta and Fertitta Entertainment in the transaction with a corporate deal team led by New York partners Ian Schuman and Marc Jaffe and Houston partners Nick Dhesi and Ryan Maierson, with Houston associates Thomas Verity, Bryan Ryan, Ben Marek, and Austin Sheehy. Advice was also provided on tax matters by New York partner David Raab and Century City counsel Will Kessler, with Houston associate Jared Grimley.

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