Golden Nugget Online Gaming, Inc. GNOG 20.88 0.50 (2.45%). For example, Golden Nugget Online might expect that it will experience an uplift in its stock price after the merger, just like DraftKings (NASDAQ:DKNG). Golden Nugget Online Gaming Stock Is a Risky Collection of Headwinds and Shaky Finances Jan. 11, 2021 at 7:40 a.m. Following the merger, Tilman Fertitta will continue to serve as GNOG’s chairman and CEO. They foresaw this scenario developing with a bad outcome. The investor thinks that online gambling is still a hot sector. The company will likely benefit as more states legalize online gambling. Only 34.80% of the stock of eGain is held by insiders. Golden Nugget Online Gaming went public through a blank-check company, Landcadia Holdings II (LCA). Copyright © An amendment was made to the purchase agreement to limit Mr. Fertitta’s supervoting control over the company. This could have a dampening effect on GNOG stock’s prospects after the merger closes. Upon completion of the business combination, Landcadia changed its name to Golden Nugget Online Gaming, Inc. But don’t give up hope just yet. This is a good change. When Landcadia merges with Golden Nugget Online Gaming, the new symbol will be GNOG. 50.42% of the stock of eGain is held by institutions. Any distinction between the two is, at this point, just a legal technicality. In addition to live television coverage of the ceremony, the NYSE will live stream the opening bell ringing on its website, beginning at 9:29 a.m. High institutional ownership can be a signal of strong market trust in this company. At Yahoo Finance, you get free stock quotes, up-to-date news, portfolio management resources, international market data, social interaction and mortgage rates that help you manage your financial life. I suggested that based on its comparable value would be worth twice today’s price. The Company's shares of Class A common stock will commence trading on Nasdaq Stock Market under the ticker symbol "GNOG" on December 30, 2020. Golden Nugget is an online gaming and digital sports entertainment company. InvestorPlace - Stock Market News, Stock Advice & Trading Tips. An investor named RSI_MACD_MOMO_Investor on Stocktwits is bullish on GNOG stock. The news of the merger between the SPAC and Golden Nugget first surfaced in June 2020. I think I know why it hasn’t named a date yet. Landcadia Holdings II, Inc. Completes Acquisition of Golden Nugget Online Gaming -- Changes Name to Golden Nugget Online Gaming, Inc.-- Class A Common Stock … That implies that it lost a number of major online sporting bets. That will strengthen its ongoing balance sheet. The merger and new trading symbol will also likely cause the stock to skyrocket. quotes delayed at least 15 minutes, all others at least 20 minutes. That stock started out as a special purpose acquisition company (SPAC). LCA stock should do much better after its merger closes, especially since governance issues are now more secure. Motley Fool +26.03%. The company decided to take the SPAC IPO route to speed up it's listing on the public market. Benzinga +17.32%. Tilman J. Fertitta will continue to serve as the Company's CEO and Chairman of the Board. The online gambling market will likely be worth $127.3 billion by 2027, according to Grand View Research. 1125 N. Charles St, Baltimore, MD 21201. On December 30, 2020, Golden Nugget Online Gaming (GNOG) company went public through the SPAC (special purpose acquisition company) route. It also implies that Landcadia believes LCA stock will shoot up after the merger. With the huge spike, is Golden Nugget stock still a good investment? All rights reserved. Is GNOG stock a good investment? On Sept. 22, the company made an interesting 8-K filing with the SEC. It showed that there were some last-minute negotiations with the sponsor and Golden Nugget’s owner, Tilman J. Fertitta. The merger deal was approved by a majority of Landcadia's shareholders on the same day. It protects the GNOG shareholders from a scenario where Fertitta sells down his stake and yet can still control the board. The stock is currently rising in what appears to be a rising triangle, a bullish continuation pattern. Historical Stock Chart From Dec 2020 to Jan 2021 Golden Nugget Online Gam... (NASDAQ:GNOG) ... {symbol}} Message Board See More Message Board Posts. Landcadia wanted to negotiate one further change before that happens. On Dec. 29, Lancadia Holdings II said that the company completed its reverse merger with Golden Nugget Online Gaming. Austrian Gold Philharmonic: Minted at the historic Austrian Mint in Vienna, internationally famous for producing exceptional gold coins for more than 800 years, the Austrian Gold Philharmonic is one of the most beautiful modern gold bullion coins. In effect, this is a bullish sign for the stock. Nasdaq That is almost certainly a bullish catalyst for investors in LCA stock prior to the merger. Markets don’t like to see this. Golden Nugget Online Gaming, Inc. ("GNOG" or the "Company") reported selected financial results for the second quarter of 2020. Is Ford or GM a Better Bet for Investors Amid Increased EV Push. The new stock symbol was first traded Dec. 30, 2020. 1125 N. Charles St, Baltimore, MD 21201. Pre-Market 0.62 (2.97%) The Company's shares of Class A common stock will commence trading on Nasdaq Stock Market under the ticker symbol "GNOG ... Golden Nugget … ... Business Wire. A SPAC merger is not a qualifying event that mandates such a blackout unless the company is raising PIPE-related (private investment in public equity) capital for the merger. For one, GNOG will receive $150 million in debt paydown and have at least $80 million in cash to work with. Post closing, the combined company will traded on NASDAQ with the ticker “GNOG”. Golden Nugget is an early leader in the fast-growing ... which means investors can buy the stock in anticipation of the deal closing to gain exposure. That is when the stock symbol changed to DKNG. Golden Nugget Online Gaming is being publicly traded on the Nasdaq under the ticker symbol “GNOG.” Currently, the stock isn't being tracked by any Wall Street analysts. 14 Things to Know About EV Play Evergrande Auto >>>, Pending Golden Nugget Merger Should Push Up Landcadia Holdings II Stock, the company made an interesting 8-K filing, Fertitta will be the controlling shareholder, The 7 Best Dividend Stocks To Buy On The Market Today, Louis Navellier and the InvestorPlace Research Staff, 3 EV Charging Stocks to Buy for Huge Gains in the 2020s, Stock Market Live Updates Tuesday: Earnings, Social Media Buzz Steal the Show, Don’t Buy CCIV Stock Now. But once its reverse merger closed, the newly named DKNG stock doubled from the period when it was announced. Digital casino company Golden Nugget Online Gaming (NASDAQ:GNOG) isn’t the … The company plans to introduce its online casino games in Michigan and Pennsylvania this year. Keep in mind that most firms are not in a black-out period as they normally would be in the normal IPO process. All rights reserved. Fertitta will be the controlling shareholder of the merged company. The stock gained nearly 100 percent last year. Specifically, they have bought $0.00 in company stock and sold $289,425.00 in company stock. Currently, Golden Nugget doesn’t pay dividends. “This ceremony is a tribute to our incredible team, investors and partners who all made this day possible,” said Greg Carlin, CEO of RSI. Some of those shares in this secondary offering are from existing shareholders. The company will likely benefit as more states legalize online gambling. Golden Nugget stock is a buy based on the strong growth outlook. Jun-29-20 09:54AM : Online Casino Golden Nugget To Go Public Through Landcadia Acquisition. Today, December 30, the companies executed the final step of the deal. The deal should close soon, despite some opposition from LCA stock holders and the fact that a date for the shareholder vote has not yet been set. Golden Nugget stock won many investors' hearts in 2020. But Pounce on the Lucid Motors Merger, Top SPAC Merger News This Week: Lucid Motors, EVgo, Joby Aviation and 7 More Hot SPACs, 7 Dividend Aristocrats That Will Outlive Us All, 7 Growth Stocks in The S&P’s Hottest Sectors That Are Primed to Explode, How the Internet Sent GameStop Stock Up 1,000% — And Where It’s Going Next. That is … The company will likely benefit as states continue to legalize online gambling. In my last article on LCA stock, I wrote a forecast that the company would be worth much more. For example, neither TipRanks.com nor Marketbeat.com show that there are any analyst reports on LCA stock now. The deal gave Golden Nugget an estimated valuation of $745 million or 6.1x estimated 2021 sales of $122 million. By the way, this deal was supposed to have closed in the third quarter. Landcadia Holdings II, Inc. Completes Acquisition of Golden Nugget Online Gaming PR Newswire (US) - 12/29/2020 12:45:00 PM Current Report Filing (8-k) Edgar (US Regulatory) - 12/21/2020 9:18:35 AM Additional Proxy Soliciting Materials (definitive) (defa14a) Edgar (US Regulatory) - 12/21/2020 9:13:23 AM Acorns vs. Robinhood: Popular Investment Platforms, Explained, Chick-fil-A Is a Private Company, No Plans to Go Public. With a Vaccine Available, Will the Show Go On at AMC? Golden Eagle Coin's Pre-1933 Gold Coins inventory contains an extremely competitive variety. Landcadia, having completed the purchase, officially changed its own name to “Golden Nugget Online Gaming” and its stock symbol to GNOG. Golden Nugget will likely generate sales of $122 million in 2021. Benchmark initiates coverage on Golden Nugget Online Gaming (GNOG +4.1%) with a Buy rating. Landcadia Holdings II (NASDAQ:LCA) signed a merger agreement with Golden Nugget Online Gaming on June 29. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. On Oct. 5, DraftKings provided guidance about its Q3 results that might have implications for Golden Nugget Online. Why Waitr Holdings Stock Was Reaching New 2020 Highs Today. However, keep in mind, as I pointed out last month, that Golden Nugget has been much more profitable than DraftKings. Copyright © 2021 InvestorPlace Media, LLC. The investor added that the company is still in the number one spot in New Jersey. View real-time stock prices and stock quotes for a full financial overview. GNOG | Complete Golden Nugget Online Gaming Inc. stock news by MarketWatch. Source: Pixabay, Golden Nugget Online Casino Facebook. Control the Board Been Less bullish on GNOG stock ’ s price it 's on. 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