DraftKings will pay 0.365 newly issued shares for each common share of Golden Nugget Online Gaming.

GNOG’s chairman, chief executive and largest shareholder, Tilman Fertitta, who owns approximately 46% of the business, has agreed to continue to hold the DraftKings shares he will receive – worth more than $700m – for at least a year.

Fertitta – who will continue to own the Golden Nugget land-based business – will also join the DraftKings board.

Read the full story on iGB North America

Original article: https://igamingbusiness.com/draftkings-to-acquire-gnog-in-1-56bn-deal/

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