Golden Nugget’s first casino joint venture
Golden Nugget Online Gaming (GNOG) has announced its entry into the Illinois gambling market through a partnership with Danville Development, LLC. The two companies will create a joint venture with Wilmot Gaming Illinois, LLC, which will build a casino in Danville, Illinois, about 140 miles south of Chicago on the Indiana border.
Danville Development itself is a joint venture between Wilmot and GN Danville, LLC, the latter a subsidiary of Golden Nugget.
The property will house a Landry’s steakhouse, which makes sense considering Landry’s owns the Golden Nugget, along with about 600 different properties in the restaurant and hospitality industries.
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- Golden Nugget Atlantic City is the top online casino in New Jersey. It hopes to accomplish the same in Pennsylvania. The New Jersey casino is one of two companies that applied to be considered as a qualified gaming entity (QGE) by the PA Gaming Control Board (PGCB). Golden Nugget received its QGE approval but is still in the process of obtaining approval for a PA interactive gaming license.
we are honored to be the one selected”
The Golden Nugget online casino platform uses the NYX Open Platform System. NYX proudly provides over 100 of Golden Nugget’s online casino games. Other game providers for the Golden Nugget online casino platform include NetEnt, IGT, and HSG. To enhance the casino theme, the Golden Nugget online slot uses traditional playing card icons to create lower value combinations. The classic format that pays out when matching symbols cross a line from left to right is used here, with 2x, 10x, and 50x your line bet claimed when the least valuable symbols appear.
“This is Golden Nugget’s first joint venture on a casino project, and we are honored to be the one selected amongst numerous bidders for this opportunity by the Wilmot family after a highly competitive process,” said Golden Nugget owner and CEO Tilman Fertitta in Thursday’s announcement.
Eye on the online gambling prize
While Golden Nugget will construct a brick-and-mortar casino, the ultimate goal is arguably to gain an online gaming foothold in the state. Based on current estimates, Illinois is the sixth-largest state in terms of population in the US (GNOG says it is fifth, but that may be based on the 2010 census), making it an extremely attractive internet gambling market.
GNOG plans to launch an online sports betting operation, saying it has the “exclusive right” to offer said services with the new casino. Should online casino games become legal in the future, it will host those, as well.
Currently, land-based casinos in Illinois are eligible to apply for sports betting licenses, but they are permitted to partner with established technology providers for their on-site and mobile products. Right now, there are five mobile betting apps available to people in Illinois: BetRivers, DraftKings, FanDuel, PointsBet, and William Hill. Late next year, three online-only licenses will be up for grabs.
Golden Nugget going public
This summer, Golden Nugget Online Gaming announced that it is going public. It will become the second “pure” online gaming company to become publicly traded, following GAN, which did so in May.
Landcadia will change its name to Golden Nugget Online Gaming
To go public, GNOG is being acquired by Landcadia Holdings II, a special purpose acquisition company (SPAC). Landcadia is publicly traded under the ticker LCA. Its purpose, like any “blank check company,” is to raise funds to buy a company and take it public. When the acquisition is completed, Landcadia will change its name to Golden Nugget Online Gaming and its ticker will become GNOG.
Landcadia Holdings II was created by Fertitta Entertainment, the holding company for the companies owned by Tilman Fertitta, and Jeffries Financial Group. Fertitta will continue as chairman and CEO of GNOG once the deal is finalized and the company goes public.
Sights set on Michigan market
Golden Nugget Online Gaming (GNOG), the online subsidiary of Golden Nugget, has signed a new agreement which will see the operator offer its online casino content in the state of Michigan.
The online casino company has secured market access through a partnership with the Keweenaw Bay Indian Community, the operator of two Ojibwa Casino properties in Michigan’s Upper Peninsula.
part of Golden Nugget’s plans for US expansion
The agreement is part of Golden Nugget’s plans for US expansion. The operator previously outlined plans to establish a presence in Michigan at the beginning of 2021.
Commenting on the deal, GNOG president Thomas Winter said: “Golden Nugget Online Gaming is thrilled to partner with the Ojibwa Casino to provide casino players in Michigan with a premium online casino and sportsbook experience.”
Golden Nugget broadens its horizons
Golden Nugget already offers its online casino and sports betting products in New Jersey. It is also looking to expand into the Pennsylvania market next year.
Last month, Golden Nugget announced it would be merging its online gaming business with special purpose acquisition corporation Landcadia Holdings II in a deal worth $745m. The agreement will see GNOG go public on the Nasdaq exchange in the third quarter.
deal would help fund Golden Nugget’s expansion into online gaming states
Tilman Fertitta, CEO of Golden Nugget parent company Landry’s, commented on the decision to go public in a message to investors. He said the deal would help fund Golden Nugget’s expansion into online gaming states while maintaining profitability.
This year, Golden Nugget entered into two new agreements to expand its content portfolio as it looks towards expansion. In February, it signed a multi-year extension to its partnership with provider Scientific Games. The company also agreed a new content deal with Evolution Gaming in May.
Michigan casino closures
Land-based casinos in Michigan closed on March 16 as a result of the COVID-19 pandemic. Since then, a number of casinos have reopened with added safety restrictions, including 22 of the state’s 23 tribal casinos.
In contrast, Detroit’s casinos remain closed, with city-wide business restrictions still in place. The city’s largest three casinos, MGM Grand Detroit, MotorCity Casino, and Greektown Casino, have struggled to generate revenue as a result.
Golden Nugget Casino Online Gambling
Golden Nugget Casino Online Nj
It is unclear when casinos in the city will reopen, with Michigan COVID-19 cases recently seeing a sharp increase. On Thursday, the number of confirmed cases in the state amounted to 71,842, up 645 from the day before. The total number of deaths was 6,101, an increase of 16 from the prior day. The average increase in daily cases is now the highest it has been since May 20.