DraftKings (NASDAQ:DKNG) announced on Aug. 9 that it will purchase Golden Nugget Online Gaming (NASDAQ:GNOG) in an all-stock transaction. Upon the closing of the deal, each GNOG shareholder will get 0.365 of a share of DKNG stock for every share of Golden Nugget they own.
Similarly What sector is GNOG in? Key Data
| Label | Value |
|---|---|
| Exchange | NASDAQ-GM |
| Sector | Consumer Services |
| Industry | Services-Misc. Amusement & Recreation |
| 1 Year Target | $23.41 |
What will happen to GNOG stock after merger? Under the terms of the merger agreement entered into on August 9, 2021 (the “Merger Agreement”), Golden Nugget Online Gaming stockholders would receive a fixed ratio of 0.365 shares of New DraftKings’ Class A Common Stock for each Common Share of Golden Nugget Online Gaming they hold on the record date (the “Exchange …
Additionally, Who owns GNOG?
Top 10 Owners of Golden Nugget Online Gaming Inc
| Stockholder | Stake | Total value ($) |
|---|---|---|
| Versor Investments LP | 15.00% | 60,064,937 |
| BlackRock Fund Advisors | 5.14% | 20,589,690 |
| Millennium Management LLC | 4.37% | 17,486,303 |
| The Vanguard Group, Inc. | 4.25% | 17,010,439 |
What company did DraftKings buy?
On March 30, 2021, DraftKings announced its acquisition of the Vegas Stats & Information Network (VSiN), a Las Vegas-based broadcaster focusing on sports betting-oriented programming.
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How many shares of GNOG are there? Share Statistics
GNOG has 46.88 million shares outstanding. The number of shares has increased by 26.33% in one year.
How much is Golden Nugget? What is Golden Nugget Online Gaming’s stock price today? One share of GNOG stock can currently be purchased for approximately $6.00.
Is GNOG profitable?
In the last 12 months, GNOG had revenue of $128.24 million and earned 79.57 million in profits . Earnings per share was -$0.60.
…
Income Statement.
| Revenue | 128.24M |
|---|---|
| Net Income | 79.57M |
| EBITDA | 96.74M |
| EBIT | 96.49M |
| Earnings Per Share (EPS) | -$0.60 |
Is Golden Nugget a good investment? The analyst said he viewed Golden Nugget « as a compelling investment as its 2020 performance in the nascent, competitive NJ market (revenue of $91.1 million and Ebitda of $28.9 million) provides a framework for the future. »
Is Golden Nugget online gaming stock a buy?
3 Wall Street research analysts have issued « buy, » « hold, » and « sell » ratings for Golden Nugget Online Gaming in the last year. There are currently 2 hold ratings and 1 buy rating for the stock.
Is GNOG a buy? So, GNOG is a Moderate Buy. At $26, the average analyst price target suggests 92% upside potential.
Is DraftKings buying GNOG?
Under the terms of DraftKings and GNOG’s agreement, New Duke Holdco, a wholly owned subsidiary of DraftKings, will acquire (i) 100% of DraftKings, (ii) 100% of GNOG and (iii) the portion of GNOG’s operating subsidiary that is not currently owned by GNOG from Landry’s Fertitta.
Did DraftKings buy Golden Nugget?
DraftKings agreed to acquire Golden Nugget Online Gaming for $1.56 billion in stock. Golden Nugget Online shareholders will receive 0.356 DraftKings shares, which is a roughly 53% premium to Golden Nugget Online’s stock on Friday.
Who is bigger FanDuel or DraftKings? FanDuel is currently slightly bigger than DraftKings in terms of its share of the overall US online gambling market. However, DraftKings is growing quickly, and the DraftKings vs FanDuel sportsbook battle should range on for years.
How high will DKNG stock go? DraftKings Inc (NASDAQ:DKNG)
The 26 analysts offering 12-month price forecasts for DraftKings Inc have a median target of 31.50, with a high estimate of 79.00 and a low estimate of 18.00. The median estimate represents a +90.91% increase from the last price of 16.50.
How much is DraftKings net worth?
Robins and two friends created DraftKings in 2012 to provide an alternative to season-long fantasy football. Three years later, the company has raised $375 million in funding and boasts a valuation close to $1.5 billion.
Is Rush Street Interactive profitable? Revenue was $488.1 million during full year 2021, an increase of 75%, compared to $278.5 million during full year 2020. Net loss was $71.1 million during full year 2021, compared to a net loss of $131.6 million during full year 2020.
Is Golden Nugget a good buy?
So, GNOG is a Moderate Buy. At $26, the average analyst price target suggests 92% upside potential. (See Golden Nugget stock analysis on TipRanks) Concluding Views Golden Nugget stock has started to trend higher after bottoming out in March 2021.
Is GNOG a buy now? So, GNOG is a Moderate Buy.
Is Golden Nugget profitable?
Revenues jumped 224 percent to $934.5 million from $288 million a year ago. The earnings report comes ahead of a planned merger slated to take Golden Nugget and his restaurant empire public later this year.
Who is buying Golden Nugget? DraftKings buys Golden Nugget Online Gaming for US$1.56bn.